Ballard And Consortium Partners Awarded U.S. FTA Funding For Deployment Of Fuel Cell Buses
VANCOUVER, Sept. 10, 2013 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) and its consortium partners have received approximately $6.7 million in funding from the U.S. Federal Transit Administration (FTA) under the National Fuel Cell Bus Program for the deployment of two next-generation fuel cell buses as well as for extended operation of two existing Ballard-powered buses. The awards were announced by Peter Rogoff, Federal Transit Administrator during a public event held at BAE Systems offices in Endicott, New York.
Ballard will deliver its next-generation fuel cell power module - the FCvelocity ®-HD7 - to BAE Systems for incorporation into its HybriDrive ® propulsion system, with the final bus assembly to be completed by ElDorado National. Two FCvelocity ®-HD7 power modules will be assembled in America and are expected to be delivered in 2014 in support of deployments with the Greater Cleveland Regional Transit Authority in Ohio and with Tompkins Consolidated Transit Authority in Ithaca, New York. The same bus platform is currently in operation with SunLine Transit Agency in Thousand Palms, California.
Paul Cass, Ballard Vice President of Operations said, "This FTA announcement will facilitate the introduction of our FCvelocity ®-HD7 to the U.S. market. We are delighted to work with our consortium partners - BAE and ElDorado - as we continue building on the success of the current bus configuration."
The FTA announcements also include funding to extend the operation of a Ballard-powered bus with Birmingham-Jefferson County Transit in Birmingham, Alabama and to test an existing ElDorado bus at the National Bus Testing Facility in Altoona, Pennsylvania. The programs are administered through the Center for Transportation and the Environment (CTE) and CALSTART, non-profit organizations focused on the implementation of clean transportation technology.Ballard has provided fuel cell modules to the National Fuel Cell Bus Program multiple times since its 2006 inception. FTA funding has enabled improvements in reliability, performance and durability of the Company's fuel cell power module, along with product cost reduction. As a result, Government and transit agencies benefit through deployment of zero-emission, clean energy transportation alternatives.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV