- Ballard Power Systems has announced a new long-term agreement to supply fuel cell engines to NFI Group Inc. for its buses.
- As part of the long-term supply agreement, NFI has placed its first purchase order under the deal for a minimum of 100 FCmove-HD+ modules for planned delivery in 2024
- The modules will primarily be produced in Ballard’s Bend, Oregon, facility with Buy America compliance
- Shares of Ballard Power Systems were down C$0.14 to C$4.70 as of 11:59 am ET
Ballard Power Systems (TSX:BLDP; NASDAQ:BLDP) has announced a new long-term agreement to supply fuel cell engines to NFI Group Inc. (TSX:NFI) for its buses.
As part of the long-term supply agreement (LTSA), NFI has placed its first purchase order under the deal for a minimum of 100 FCmove-HD+ modules for planned delivery in 2024. The modules will primarily be produced in Ballard’s Bend, Oregon, facility with Buy America compliance and will power New Flyer buses’ next generation Xcelsior CHARGE FC hydrogen fuel cell buses for deployment across the United States and Canada, including California, Manitoba, Nevada, New York, Ohio and Pennsylvania.
“This agreement is the next step in our multi-decade partnership with Ballard and a key component in advancing our leading fuel cell bus offerings,” David White, NFI executive vice president, supply management, said in a statement. “By working with Ballard across numerous bus products in multiple jurisdictions, we have been able to leverage best practices and generate design, engineering and sourcing synergies. With growing demand for fuel cell buses, we are excited to continue this partnership as we drive the transition to zero-emission transportation.”
According to a news release, the agreement is a new phase in an established partnership between Ballard and NFI. The LTSA is focused on deployment-level volumes of fuel cell-powered buses across all of NFI’s major brands including New Flyer, Alexander Dennis and MCI.
“We are proud NFI (and subsidiaries New Flyer, Alexander Dennis, and MCI) has chosen Ballard as their committed partner for the next phase of growth in the fuel cell bus market,” David Mucciacciaro, Ballard chief commercial officer, said in a statement. “We believe New Flyer is well positioned to deliver deployment scale volumes of fuel cell buses, particularly in the US market, where operators increasingly prefer hydrogen fuel cell powered buses for their range, short refueling times, high-availability, and cost-effective infrastructure requirements.”
Ballard Power Systems‘ 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, and stationary power.
NFI Group Inc. is a Canada-based independent global bus and coach manufacturer and a leader in electric mass mobility solutions in North America and Europe.
Shares of Ballard Power Systems were down C$0.14 to C$4.70 and shares of NFI Group were down C$.20, trading at C$13.26 as of 11:59 am ET.
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