VANCOUVER, CANADA and SHIJIAZHUANG, CHINA
– Ballard’s FCveloCity®
-HD fuel cell module has successfully powered another urban tram, this one designed and built by Tangshan Railway Vehicle Co. Ltd. (TRC) in China’s Hebei Province. TRC is part of CRRC, the largest heavy duty vehicle manufacturer in that country. Previously, in March 2015, a tram built by CSR Qingdao Sifang Company, a Chinese rolling stock manufacturer based in Qingdao, Shandong Province and powered by Ballard was also demonstrated.
The Ballard FCveloCity®
-HD power module used in TRC’s demonstration tram is an earlier generation module that has been generally used to power buses. In November, 2015 Ballard announced that it had signed a definitive agreement with TRC for development of a new fuel cell module designed to meet the specific requirements of tram or Modern Ground Rail Transit Equipment applications – that fuel cell module development program, representing an important step toward a commercial product, is now underway, and is progressing on track and on time.
Randy MacEwen, Ballard’s President and CEO said, “The growing need for mass transit solutions in China, together with acknowledgement of the severe air quality issues, certainly makes fuel cell-powered trams an intriguing market opportunity. The interest being shown by China’s tram OEMs represents a strong signal and Ballard is well positioned to address this opportunity.”
The tram just demonstrated by TRC, and pictured above, is powered by an FCveloCity®
-HD module along with supercapacitors – making this the first of its kind anywhere in the world.
About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) 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 Market Update contains forward-looking statements concerning anticipated market demand for 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.
Further Information: Guy McAree +1.604.412.7919, email@example.com