Ballard and AUDI Sign Definitive Agreements Regarding Use of Industry-Leading High-Power Density Fuel Cell Stack for Vehicle Propulsion

Rhea-AI Summary

Ballard Power Systems (NASDAQ: BLDP) has entered definitive agreements with AUDI AG to expand its rights to use the FCgen®-HPS fuel cell stack. This high-performance stack, offering a volumetric power density of 4.3 kW/L, will be utilized in various applications, including commercial trucks and passenger vehicles. The stack features maximum power output of 140 kW, operation at temperatures up to 95°C, and cold weather capabilities down to -28°C. Ballard continues to push the boundaries of PEM fuel cell technology, aiming to bolster sustainable electrification of mobility.

Positive

• Definitive agreements signed with AUDI AG enhance Ballard's rights to utilize the FCgen®-HPS fuel cell stack.
• The FCgen®-HPS stack boasts a volumetric power density of 4.3 kW/L, indicating advanced technology.
• Features such as 140 kW maximum power output and high-temperature operation improve versatility and efficiency.

Negative

• None.

VANCOUVER, BC, Oct. 29, 2020 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that it has signed definitive agreements – in the form of Amendments to the existing Technology Development Agreement and a Patent License Agreement – with AUDI AG related to the non-binding Memorandum of Understanding previously announced in a press release on September 14, 2020, thereby expanding Ballard's right to use the FCgen^®-HPS product, a high-performance, zero-emission, proton exchange membrane (PEM) fuel cell stack in all applications, including commercial trucks and passenger cars. 

The FCgen^®-HPS fuel cell stack provides propulsion for a range of Light-, Medium- and Heavy-Duty vehicles in an industry-leading volumetric high-power density of 4.3 kilowatts per liter (4.3 kW/L). This marks another power density milestone for Ballard over the Company's decades of PEM fuel cell product innovation. The FCgen^®-HPS was fully designed and developed by Ballard to stringent automotive standards in the company's Technology Solutions program with AUDI AG.

In addition to its leading high-power density, the FCgen^®-HPS delivers a combination of impressive performance metrics, including:

• High power output: up to 140kW maximum power level, with scalability to multiple power blocks;
• High operating temperature: up to 95^oC maximum operating temperature, which allows for more efficient and smaller cooling systems; and
• Rugged cold weather capabilities: -28^oC freeze start capability with fast power ramp.

More information regarding the FCgen^®-HPS fuel cell stack is available here.   

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.

This release contains forward-looking statements concerning anticipated product performance and other characteristics. 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.

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SOURCE Ballard Power Systems Inc.

FAQ

What agreements did Ballard Power Systems sign with AUDI AG?

Ballard signed definitive agreements to expand its rights to use the FCgen®-HPS fuel cell stack.

What is the significance of the FCgen®-HPS fuel cell stack?

The FCgen®-HPS offers an industry-leading volumetric power density of 4.3 kW/L and exceptional performance metrics.

When was the announcement made regarding Ballard's agreements with AUDI AG?

The announcement was made on October 29, 2020.

What are the potential applications for the FCgen®-HPS fuel cell stack?

The fuel cell stack can be used in commercial trucks, passenger cars, and other vehicle types.

What are the operational capabilities of the FCgen®-HPS fuel cell stack?

It operates efficiently at temperatures up to 95°C and has cold weather capabilities down to -28°C.