VANCOUVER, BC and WEST PERTH, Australia, Feb. 3, 2021 /PRNewswire/ - Ballard Power Systems
(NASDAQ: BLDP) (TSX: BLDP) today announced that it has signed a
non-binding Memorandum of Understanding (MOU) with Global Energy
Ventures (ASX: GEV; www.gev.com) – a provider of integrated
compressed shipping solutions for the transportation of energy to
regional markets, headquartered in Australia – for the development of a new fuel
cell-powered ship, called C-H2 Ship, designed to transport
compressed green hydrogen.
The power required for a small-scale demonstration of the C-H2
Ship is expected to be under 10 megawatts (MW). At full scale, the
C-H2 Ship will have a propulsion power requirement of approximately
26MW, and a containment system for storage of 2,000 tons of
compressed green hydrogen.
GEV will be responsible for design approvals, development,
financing, and operation of C-H2 Ship, along with integration of
the required power system. Ballard will be responsible for design
of the fuel cell system for the C-H2 Ship, based on its
FCwaveTM technology, and will assist GEV with
integration of the fuel cell system into the vessel's design.
Ballard's FCwaveTM system will obtain its hydrogen
fuel from the compressed green hydrogen stored onboard and
transported by the vessel.
Martin Carolan, Executive
Director of Global Energy Ventures said, "This MOU is a significant
step in our development of the Company's C-H2 Ship, with hydrogen
fuel cells now at the forefront of zero-emission technologies for
shipping. We look forward to working with Ballard on the
development of the C-H2 Ship's fuel cell system and power
requirements in line with our development program for a compressed
shipping solution for hydrogen marine transport at scale."
Rob Campbell, Ballard Chief
Commercial Officer noted, "Hydrogen and fuel cell technology
provide a compelling path for the decarbonization of the maritime
sector, one of the key Medium- and Heavy-Duty Motive applications
for which our products offer a particularly strong value
proposition. Working with Global Energy Ventures will allow us to
advance megawatt-scale hydrogen fuel cell and storage integration
on board a large marine vessel. We are looking forward to
collaborating with GEV on the visionary C-H2 Ship."
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.
This release contains forward-looking statements concerning
anticipated product performance and other characteristics. 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ballard-signs-mou-with-global-energy-ventures-for-development-of-fuel-cell-powered-ship-301221739.html
SOURCE Ballard Power Systems Inc.