VANCOUVER, Feb. 21, 2018 /PRNewswire/ - Ballard Power
Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has
received a follow-on purchase order from Nisshinbo Holdings
("Nisshinbo"; www.nisshinbo.co.jp/english/), an Environmental and
Energy company, to progress a previously announced Technology
Solutions program to the next stage.
As per Ballard's September 12,
2017 press release, Technology Solutions work resulted in
the incorporation of Nisshinbo's Non Precious Metal Catalyst (NPMC)
into the world's first NPMC-based proton exchange membrane (PEM)
fuel cell product, the 30 watt FCgen®-1040 fuel cell
stack, which was made available for commercial sale in
late-2017.
A subsequent Technology Solutions program was announced in
Ballard's September 18, 2017 press
release to assess the potential for development of NPMC-based fuel
cell stacks for use in commercial material handling applications.
Blue chip brands such as Walmart and Amazon have demonstrated the
strong value proposition offered by current fuel cell-powered
forklift trucks operating in high-throughput distribution
centers.
With successful completion of the assessment, the next stage
announced today will focus on certain performance and power density
enhancements to support development of low cost NPMC-based fuel
cell stacks for material handling
applications.
"Our goal for this multi-year Technology Solutions program is to
expand the serviceable addressable market for fuel cell-powered
forklifts and accelerate market adoption through the
commercialization of leading air-cooled and liquid-cooled fuel cell
stacks that deliver against market requirements at the lowest
possible cost," said Dr. Kevin
Colbow, Ballard's Vice President – Technology and Product
Development. "NPMC-based stacks represent a step-change in PEM fuel
cell technology by dramatically reducing the amount of platinum
that is needed. And, since platinum currently contributes 10-to-15%
of the cost of a fuel cell stack, NPMC technology offers the
potential for meaningful cost savings."
Nisshinbo is an "Environmental and Energy Company" Group
providing low-carbon, optimized products across a range of business
lines, including chemicals, precision instruments, electronics,
automotive brakes and textiles. Nisshinbo has been a long-time
leading global supplier of carbon plates used in the construction
of PEM fuel cells for various market applications. Nisshinbo has
been a strategic supplier of compression molded bipolar flow field
carbon plates to Ballard for over 20 years. In November 2015, Nisshinbo also became a strategic
equity investor in Ballard.
About Ballard Power Systems
Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) provides clean energy products that
reduce customer costs and risks, and helps customers solve
difficult technical and business challenges in their fuel cell
programs. To learn more about Ballard, please visit
www.ballard.com.
This release contains forward-looking statements concerning
anticipated development results and impacts on our products. 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.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The Ballard
Common Shares have not been registered under the United States
Securities Act of 1933, as amended, or the securities laws of any
other jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
SOURCE Ballard Power Systems Inc.