Ballard Power Systems Strengthens Strategic Alliance With Quantron AG and Gets Order for 140 Fuel Cell Engines
Ballard Power Systems announced a minority equity investment in Quantron AG to expedite fuel cell truck deployment. Quantron will use Ballard's investment proceeds to develop its truck fuel cell vehicle platforms as part of a 50-million-euro fundraising round.
Quantron committed to purchasing 140 FCmoveTM modules totalling approximately 17MW as part of the strategic agreement, with an option to purchase an additional 50 units. The fuel cell modules are expected to be delivered in 2023 and 2024.
Quantron's zero-emission fuel cell electric vehicle platforms will incorporate Ballard fuel cell products for various truck applications in Europe and the United States. Quantron's initial market focus is Germany, where they will showcase their new 44T fuel cell truck at IAA Transportation 2022.
Randy MacEwen, CEO of Ballard Power Systems, said:
"We are seeing growing global demand and policy support for zero-emission transport as companies strive to reach decarbonization targets. This collaboration accelerates our entry into the European truck market and aims to have Quantron’s initial hydrogen-powered, zero-emission trucks on the road in the next 18 months."
Andreas Haller, founder and Chairman of Quantron AG said:
"Quantron is thrilled to advance our strategic partnership with Ballard. We see compelling mobility use cases where fuel cell engines are the most suitable zero emission solution, given the power and range requirements of the application."
Michael Perschke, CEO of Quantron AG added:
“We want to offer our customers the best solution possible, and our continued collaboration with Ballard allows us to advance our environmentally friendly offerings to meet our customers’ needs, including range, payload, and refuelling time, with an increasingly competitive total cost of ownership.”
Source: Ballard Power Systems