Deal underscores growing global demand for clean energy buses
First S.American order will help advance commercialization of fuel cell
VANCOUVER, Jan. 5 /CNW/ - Ballard Power Systems (TSX: BLD; NASDAQ: BLDP)
today announced a contract to supply three fuel cell power modules to
Tuttotrasporti (www.tuttotrasporti.com.br; TUTTO), the largest Brazilian integrator of hybrid transit buses.
Ballard's fuel cell modules are intended for use in zero-emission buses
operated by transit agencies in Brazil.
"This contract is a further indicator of growing demand for clean fuel
cell-powered buses," said Michael Goldstein, Ballard's Chief Commercial
Officer. "Brazil has 350,000 transit buses in operation today and is
the third largest bus manufacturer globally. We are very pleased to
extend our partnership with a leading integrator in TUTTO, operating in
the important South American market."
Under Brazil's National Plan on Climate Change - a set of
inter-ministerial programs designed to cut emissions in the
transportation, forestry, industrial and energy sectors - the
government has committed to significant use of zero-emission transit
technology. Initiatives will be implemented during the lead-up to the
2014 World Cup and 2016 Summer Olympic Games being held in Brazil, and
In Brazil's largest city, Sao Paulo, greenhouse gas emissions are
approximately 3 million tons annually, 85% of which is generated by
vehicles. As a result, clean energy transportation is a high priority
under the National Plan on Climate Change.
Agenor Boff, President of Tuttotrasporti said, "We see a sizable
opportunity for zero-emission fuel cell buses in our target market. My
company's prior experience has confirmed Ballard's leadership in
delivering the highest value in fuel cell power modules available
TUTTO has integrated more than 125,000 vehicles in the truck, transit
and intercity transportation markets during the company's 20-year
history. Ballard and TUTTO previously partnered on the development of a
fuel cell bus under a UNDP / EMTU (United Nations Development Programme
/ Empresa Metropolitana de Transportes Urbanos) program. The bus has
now been operational in Sao Paulo for over one year.
Increased volumes of fuel cell-powered buses are expected to support
cost and price reductions through scale economies, enabling fuel cell
solutions to compete more effectively with incumbent transit
About Ballard Power Systems
Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) provides clean energy
fuel cell products enabling optimized power systems for a range of
applications. To learn more about Ballard, please visit www.ballard.com.
This release contains forward-looking statements, including expected
product deliveries, market growth, competitiveness and customer product
deployments, which are provided to enable external stakeholders to
understand Ballard's expectations as at the date of this release and
may not be appropriate for other purposes. These forward-looking
statements are based on the beliefs and assumptions of Ballard's
management and 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. Such
assumptions relate to Ballard's financial forecasts and expectations
regarding its product development efforts, manufacturing capacity, and
market demand, and include matters such as generating new sales,
producing, delivering and selling the expected number of units, and
controlling its costs.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including, without
limitation, the condition of the global economy, the rate of mass
adoption of its products, product development delays, changing
environmental regulations, its ability to attract and retain business
partners and customers, its access to funding, increased competition,
its ability to protect its intellectual property, changes in its
customers' requirements, foreign exchange impacts on its net monetary
assets and its ability to provide the capital required for product
development, operations and marketing. For a detailed discussion of
these risk factors and other risk factors that could affect Ballard's
future performance, please refer to Ballard's most recent Annual
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.
SOURCE Ballard Power Systems Inc.
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