Ballard signs $11M deal for fuel cell bus program in China
Azure to buy licences and FCvelocity-HD7 power modules.
Grand Mao, Azure chairman (left) and John Sheridan, Ballard president and CEO sign an MOU in May to supply fuel cells and licences for their use for zero emission buses in China. Photo: Ballard Power Systems Inc.
SHANGHAI, China — Ballard Power Systems Inc. has signed multi-year definitive agreements to support Azure Hydrogen’s zero emission fuel cell buses for the China market.
Azure, a Beijing based international clean tech company, plans to partner with Chinese bus manufacturers in a phased development program using Ballard’s fuel cell technology.
Ballard, based in Vancouver, will provide a licence, equipment and engineering services for the assembly of its FCvelocity-HD7 bus power modules by Azure in China. Once this assembly capability is established, Azure will assemble modules with fuel cell stacks supplied exclusively by Ballard.
The value of the contract over the initial 12-months of the first phase will be $11 million, but Ballard said if the bus program progresses as Azure plans, there will be more revenue generated by licences.
“We see significant market opportunity for the deployment of clean energy fuel cell bus fleets in China, where they will have a direct positive impact on the severe air quality problem in our major cities,” said Ronald Lee, CEO of Azure Hydrogen.
The FCvelocity-HD7 is the next-generation of Ballard’s fuel cell power module, designed specifically for integration into bus applications.