VANCOUVER, BC, Dec. 16, 2020 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP) (TSX: BLDP) recognizes and applauds Canada's Federal Government and Canada's Minister of Natural Resources, the
Honourable Seamus O'Regan, for
today's launch of the Hydrogen Strategy for Canada (read here), a critical step
toward realizing the goal of carbon neutrality in Canada by 2050 as part of the global fight
against climate change.
Canada now joins 31 other
countries in recognizing the critical role of hydrogen in the
energy transition. With hydrogen as a keystone underpinning
Canada's Climate Action
Plan, a pathway is provided to decarbonize segments of the
economy that are otherwise difficult to abate. This includes Heavy-
and Medium-Duty Motive applications – such as transit buses,
commercial trucks, trains and marine vessels – that have a
disproportionately large impact on the emission of CO2
and particulate matter.
Propulsion power for these types of vehicles using zero-emission
fuel cell engines and hydrogen as the fuel is a proven approach
that not only advances carbon neutrality, but also generates
employment and economic expansion in the emerging renewable energy
sector of Canada's national
economy.
Randy MacEwen, Ballard President and CEO commented, "We are
excited by the ambitious framework laid out in the Hydrogen
Strategy for Canada, which
seeks to position Canada as a
global hydrogen leader and support Canada's path to net-zero carbon emissions by
2050. The strategy articulates a compelling vision for 2050, with
up to 30% of Canada's energy
delivered in the form of hydrogen, an established supply base of
low carbon intensity hydrogen delivered at competitive prices, over
five million fuel cell electric vehicles on Canadian roads, and a
nationwide hydrogen refueling network."
Mr. MacEwen continued, "The strategy represents a tremendous
business opportunity for Canada's
leading hydrogen and fuel cell technology and energy companies.
This includes Ballard, a British
Columbia based employer of over 900 skilled people, the vast
majority being located in Canada
and focused on research, development, engineering and product
manufacturing activities. As we supply leading fuel cell engines
for mobility applications in Canada and for global markets, we expect to
significantly grow our team and investments in Canada."
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, passenger cars and forklift trucks. To learn more about
Ballard, please visit www.ballard.com.
Important Cautions Regarding Forward-Looking
Statements
This release contains forward-looking statements regarding the
opportunities resulting from the announced strategy. 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 the
opinions and estimates of management as of the date hereof,
including 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.