Ballard Power Systems Receives Purchase Order for 200 Fuel Cell Engines for New Flyer
Key Ideas
- Ballard Power Systems secures a purchase order to supply 200 fuel cell engines to New Flyer, boosting sustainability in the transportation sector.
- The order, part of a long-term agreement, represents a significant increase from the initial order and aims to power hydrogen fuel cell buses in the US.
- Shares of Ballard Power Systems and NFI Group Inc. rise amidst a gloomy market outlook, indicating investor confidence in the fuel cell technology sector.
Ballard Power Systems, a company focusing on fuel cell technology, recently announced a significant development in its partnership with New Flyer, a leading bus and coach manufacturer. The company has secured a purchase order to supply 200 fuel cell engines to New Flyer, a subsidiary of NFI Group Inc. This order, part of a long-term supply agreement, marks a milestone in the efforts to enhance sustainability in the transportation industry. The 200 fuel cell engines, accounting for approximately 20 MW of power, are set to be delivered in 2025 to power New Flyer's next-generation Xcelsior CHARGE FC™ hydrogen fuel cell buses in the United States. This order represents a doubling of the initial order of 100 engines announced earlier this year. The positive news surrounding this purchase order has resulted in a surge in the stock prices of Ballard Power Systems and NFI Group Inc., despite a generally negative market sentiment. Investors are showing confidence in the potential of hydrogen fuel cell technology to revolutionize the mass mobility sector in North America and Europe.
Topics
Public Transit
Renewable Energy
Sustainability
Stock Market
Electric Vehicles
Bus Manufacturing
Supply Agreement
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