VANCOUVER, BC, Dec. 5, 2024
/CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today
announced the signing of a new Long Term Supply Agreement ("LTSA")
with Canadian Pacific Kansas City ("CPKC") (TSX: CP) (NYSE: CP),
including the initial supply of 98 fuel cell engines for use in the
North American freight rail market. Each engine has a nameplate of
200 kW, totaling approximately 20 megawatts (MW) of fuel cell
power. Deliveries of all 98 engines are expected in 2025.
The LTSA builds on an existing partnership between Ballard and
CPKC, which started in 2021, and has included delivery of
approximately 10 MW of fuel cell engines to date and the successful
integration of Ballard fuel cell engines into hydrogen-powered
locomotives for regular switching and freight service applications
in Alberta, Canada. The fuel cell
engines purchased from Ballard will support the expansion of CPKC's
hydrogen locomotive program.
"We are thrilled with the opportunity to further develop our
strategic relationship with CPKC to decarbonize not only their
locomotive fleet but also participate in the electrification of
freight rail across North
America," said Randy MacEwen,
President and CEO of Ballard Power.
"This order represents a step forward in CPKC's decarbonization
vision and confidence in hydrogen fuel cells as a potential
long-term replacement of diesel engines, providing the
environmental benefits along with long range, fast refueling, heavy
payloads, and cold weather operation."
Prototype diesel freight locomotives retrofitted with hydrogen
fuel cells, hydrogen storage and battery packs have undergone
various testing at CPKC since 2022. CPKC currently has three
hydrogen locomotives in operation.
About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to
deliver fuel cell power for a sustainable planet. Ballard
zero-emission PEM fuel cells are enabling electrification of
mobility, including buses, commercial trucks, trains, marine
vessels, and stationary power. To learn more about Ballard, please
visit www.ballard.com.
This release contains forward-looking statements concerning
anticipated product performance and other characteristics, product
deliveries and deployments. These forward-looking statements
reflect Ballard's current expectations as contemplated under
section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Any such
forward-looking statements are based on Ballard's assumptions
relating to its financial forecasts and expectations regarding its
product development efforts, manufacturing capacity, and market
demand.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including
general economic and regulatory changes, detrimental reliance on
third parties, successfully achieving our business plans and
achieving and sustaining profitability. For a detailed discussion
of these and other risk factors that could affect Ballard's future
performance, please refer to Ballard's most recent Annual
Information Form. Readers should not place undue reliance on
Ballard's forward-looking statements and Ballard assumes no
obligation to update or release any revisions to these
forward-looking statements, other than as required under applicable
legislation.
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SOURCE Ballard Power Systems Inc.
