Ballard and Ford Sign Fuel Cell Engine Agreement
Ballard Power Systems Inc. (Vancouver, BC) announced that its Transportation Division has signed a three-year agreement valued at $69.1 million (US$43.9 million) with alliance partner Ford Motor Co. (Dearborn, MI). Under the terms of the agreement, Ballard will supply Ford with fuel cell engines and related engineering and support services.
"This $69.1 million order for the development of fuel cell engines is in addition to Ford's September order of $34.5 million, and brings Ford's total recent orders to over $100.0 million," said Firoz Rasul, chairman and CEO. "This new order is further confirmation of Ford's commitment to Ballard and to the commercialization of fuel cell vehicles."
"We are proud to be an integral part of Ford's fuel cell vehicle program," said Andreas Truckenbrodt, Ballard's vice president, transportation. "This is the first order under our 20-year exclusive purchase agreement with Ford for fuel cell engines."