Ballard Announces Fuel Cell Engine Order Totaling Approximately 5 MW for Bus Market

Ballard Power Systems (NASDAQ:BLDP; TSX:BLDP) announced a multi-year supply agreement from Manufacturing Commercial Vehicles (‘MCV’, www.mcv-eg.com), a leading commercial vehicle manufacturer based in Egypt, for fuel cell engines totaling approximately 5 MW.

The supply agreement for 50 FCmove®-HD+ engines, and initial order of 35 units, represents the continued growth of the relationship with MCV which started in 2022 with fuel cell engine integration support and the first fuel cell engine order placed in 2023. Deliveries of the 50 engines are expected between 2025 and 2026 and will initially support projects in the EU.

“We are delighted with this order and the continued engagement with MCV,” said Oben Uluc, Vice President, Europe Sales & Marketing at Ballard. “In 2024 we took in 1,600 bus engines orders across 7 OEMs, and this agreement continues the momentum into 2025. As the fuel cell bus market continues to mature, we look forward to the use of Ballard fuel cell engines to decarbonize public transit across the globe.”

Today, Ballard powers more than 1,800 fuel cell buses worldwide, which have collectively logged over 200 million miles of operational service. Ballard’s fuel cell engines have demonstrated a 99% availability rate and zero reported safety incidents and offer an alternative to diesel engines without compromising on routes, capacity, availability, or refueling times.