- Ballard Power Systems (TSX:BLDP) has signed a long-term supply agreement with Solaris Bus & Coach for 1,000 hydrogen fuel cell engines, the largest order in Ballard’s history
- The 1,000 units will be composed of 80 per cent FCmove-HD 70 kW and 20 per cent FCmove-HD+ 100 kW engines
- Ballard manufactures zero-emission fuel cells for buses, commercial trucks, trains, marine vessels and stationary power
- Ballard Power stock has given back approximately 34 per cent year-over-year, but remains about flat over the past five years
Ballard Power Systems (TSX:BLDP) has signed a long-term supply agreement with Solaris Bus & Coach for 1,000 hydrogen fuel cell engines, the largest order in Ballard’s history.
Solaris, a leading European bus manufacturer, will deploy the engines in buses across the continent, with a focus on 22 cities where Solaris already operates buses powered by Ballard fuel cell engines.
The 1,000 units will be composed of 80 per cent FCmove-HD 70 kW and 20 per cent FCmove-HD+ 100 kW engines to address the 12-metre and 18-metre bus markets.
The supply agreement includes existing orders for 300 engines, the addition of after-market and extended warranty services to these orders, and a new supply commitment for 700 engines with after-market and extended warranty services. Initial deliveries are slated for later this year and will run through 2027.
“This landmark agreement embarks on the next phase of Ballard and Solaris’ partnership to accelerate fuel-cell bus adoption in Europe, leveraging Ballard’s proven product performance, as the energy transition gains momentum,” Randy MacEwen, Ballard Power Systems’ president and chief executive officer, said in a statement. “This agreement is a testament to our collaborative efforts with Solaris spanning over a decade in bringing safe, competitive, durable, zero-emission solutions to transit operators across Europe. We are on the road to achieving scaled deployment of fuel-cell buses, which is a critical lever to facilitate economies of scale and cost-down initiatives, driving improved economics and reduced emissions for fleet operators.”
“We are excited to continue our work with Ballard and further our progress in the rapidly growing European hydrogen fuel-cell bus market as fuel-cell vehicles become an increasingly significant share of our production mix,” added Javier Iriarte, Solaris’ chief executive officer. “Solaris has become a leader in deploying hydrogen technology in public transport and an experienced partner for European operators. To date, we have delivered nearly 200 hydrogen-powered buses and another over 500 units are in our orderbook for the next two years.”
Ballard manufactures zero-emission fuel cells for buses, commercial trucks, trains, marine vessels and stationary power.
Ballard Power Systems Inc. (TSX:BLDP) is up by 15.15 per cent, trading at C$4.34 per share as of 9:33 am ET. The stock has given back approximately 34 per cent year-over-year, but remains about flat over the past five years.
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