VANCOUVER, BC and HOBRO,
Denmark, Feb. 23, 2022 /PRNewswire/ - Ballard Power
Systems (NASDAQ: BLDP) (TSX: BLDP) today announced with ABB (SIX
Swiss Ex: ABBN) – a leading global technology company that
energizes the transformation of society and industry to achieve a
more productive, sustainable future – that they have received a
groundbreaking approval in principle ("AiP") from leading
classification society DNV for a jointly developed fuel cell
concept capable of generating 3 megawatts, or 4,000 HP, of
electrical power. DNV is an international accredited registrar and
classification society headquartered in Høvik, Norway.
The AiP represents an important milestone in developing new
technology, as independent assessment of the concept confirms
feasibility of the design and no significant obstacles exist to
prevent the concept from being realized. With the AiP in place, the
jointly developed solution can be initiated with confidence that it
is eligible to receive final approval for application onboard a
wide range of vessels.
The high-power fuel cell unit is a flexible solution that will
support the energy needs of multi-megawatt scale vessels with
diverse use cases. For example, a cruise vessel operating in
coastal areas could either run entirely on zero-emission fuel cell
power or switch to it when operating in environmentally sensitive
areas or emission control zones, while a ferry with a regular
schedule and frequent bunkering opportunities could operate solely
on fuel cell power. For ocean going vessels, fuel cell power could
support auxiliary needs. The concept of the solution also envisions
the integration with an energy storage system.
"ABB's industry-leading experience in marine solutions and
Ballard's expertise in development and deployment of megawatt-scale
fuel cell systems for land-based use has proven to be the right
combination, enabling us to take the next step in our joint efforts
to make this technology available for larger vessels," said Jesper
Themsen, President and CEO of Ballard Power Systems Europe A/S.
"Securing an AiP offers a signpost to the maritime industry
regarding the potential of this truly transformative concept."
"This AiP is an important milestone in making high-power fuel
cells commercially available, and it underpins our commitment to
bring new levels of efficiency, reliability and sustainability to
the global shipping industry," said Juha
Koskela, Division President, ABB Marine & Ports. "As we
continue to pave the way towards decarbonizing shipping, we are
confident that vessel electrification, including fuel cell
technology, will play a pivotal role in helping the marine industry
achieve its environmental targets."
The successful development of this system concept builds on a
three-year collaboration between ABB and Ballard Power Systems, the
leading global provider of proton exchange membrane (PEM) fuel cell
solutions. As part of its strategy to develop alternative
emission-free technologies, ABB is already well advanced in
collaborative development of fuel cell systems for ships.
Considered among the most promising technologies available in terms
of greenhouse gas reduction, zero-emission hydrogen fuel cells are
already powering smaller vessels over short distances and the
technology is on the verge of being ready for installation on
larger ships.
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.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements concerning the
development and delivery of fuel cell products and ABB's use of
such products, and the benefits and anticipated market adoption of
them by ABB and others. 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 statements
are based on Ballard's assumptions relating to its financial
forecasts and expectations regarding its product development
efforts, manufacturing capacity, and market demand. For a detailed
discussion of the factors and assumptions that these statements are
based upon, and factors that could cause our actual results or
outcomes to differ materially, please refer to Ballard's most
recent management discussion & analysis. Other risks and
uncertainties that may cause Ballard's actual results to be
materially different include 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. These
forward-looking statements are provided to enable external
stakeholders to understand Ballard's expectations as at the date of
this release and may not be appropriate for other purposes. Readers
should not place undue reliance on these statements and Ballard
assumes no obligation to update or release any revisions to them,
other than as required under applicable legislation.
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SOURCE Ballard Power Systems Inc.