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Heavy Duty Mobility: Ballard Power Signs MoU for H2 Solutions

Vancouver, Canada / Atlanta, USA - Ballard Power Systems has signed a non-binding memorandum of understanding (MoU) with Chart Industries Inc. for the joint development of integrated hydrogen on-board power solutions for heavy-duty mobility in the transportation sector.

These include a fuel cell engine with onboard liquid hydrogen (“LH2”) storage and vaporization for the transportation industry.

The MoU focuses on system solutions for buses, trucks, rail and marine vessels. Both Ballard and Chart have a long history of supplying hydrogen solutions and equipment to the industry. Through the collaboration, the two industrial companies aim to accelerate the use of hydrogen in heavy-duty transport applications that require long range, rapid refueling and low total vehicle cost of ownership. Chart Industries is a leading global manufacturer of equipment for industrial gases and the clean energy industry.

Liquid hydrogen is well suited for the transportation industry, according to Ballard Power, because its higher density, lower pressure and ease of refueling via a liquid hydrogen pump help larger mobile equipment travel longer distances, similar to what is possible today with diesel fuel.

Under the agreement, Chart Industries will bring to the collaboration, among other things, its liquid hydrogen expertise from liquefaction plant to storage, refueling and onboard tanks, as well as its extensive experience with LNG tanks for trucks. The company will also contribute an existing prototype liquid hydrogen onboard tank design for vehicles, as well as its interface expertise in connecting fuel and vehicles. Ballard Power's responsibilities include supplying the fuel cell modules and systems. In addition, Ballard will provide its expertise from fuel cell mobility experience with over 70 million km of vehicle operation and fuel cell test facilities in British Columbia, Canada and Denmark.

Ballard Power's share price has peaked at around 90 percent since the beginning of the year, marking its year-to-date high of €34.8 on February 09. Since the announcement of the capital increase, the share price has declined. In today's trading, Ballard Power's RENIXX share price is down 5.8 percent at 25.12 euros (Feb. 18, 2021, 4:50 p.m., Stuttgart Stock Exchange).

Source: IWR Online, 18 Feb 2021