Further to the MOU announced on
May 28, Ballard Power Systems BLDP today announced
the signing of multi-year definitive agreements to support Azure
Hydrogen's (Azure's) zero emission fuel cell bus program for the China
market. Azure plans to partner with Chinese bus manufacturers in a
phased development program for deployment of zero emission fuel cell
buses in China, utilizing Ballard's world leading fuel cell technology.
For the first phase of the program, Ballard has agreed to provide a
license, associated equipment and Engineering Services to enable
assembly of FCvelocity®-HD7 bus power modules by Azure in China. As per the agreements, once
this assembly capability is established, Azure will assemble modules
with fuel cell stacks to be supplied exclusively by Ballard.
The expected value of the contract to Ballard over the initial 12-months
of the first phase will be approximately $11 million, related to the
license for module assembly together with associated equipment and
services. If Azure's China bus program progresses as planned, the
contract will generate value beyond the $11 million license revenue,
commensurate with the volume of fuel cell stacks to be ordered.
The signing of the agreements took place at the World
See full press release
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