VANCOUVER, CANADA and NUREMBERG, GERMANY – Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) congratulates Siemens AG today (“Siemens”; www.siemens.com), following its receipt of the Center for Transport and Logistics Neuer Adler e.V. (CNA) “Intelligence for Transport and Logistics” innovation award, which was presented by Ilse Aigner, Bavaria’s Minister of Construction and Transport.
Ballard announced in November 2017 that we had signed a multi-year Development Agreement with Siemens for development of a 200 kilowatt fuel cell engine to power the Mireo train, with a contemplated value of $9 million to Ballard. In February 2018 Siemens received €12 million in funding for the Mireo program from the Federal Ministry of Transport and Digital Infrastructure (BMVI) through the “National Innovation Program Hydrogen and Fuel Cell Technology”.
Sabrina Soussan, CEO of Siemens Mobility was presented with the CNA innovation award this month by Ilsa Aigner, Bavaria Minister of Construction and Transport at a ceremony in Nuremberg, Germany. During the ceremony, Minister Aigner commented, “We want to retire the diesel engine in rail transport as soon as possible. This will avoid exhaust gases and reduce rail noise. I will do my utmost to ensure that this vehicle also receives its baptism-by-fire in Bahnland Bavaria.”
Mireo is a modular commuter train platform designed for speeds of up to 160 kilometers per hour (100 miles per hour). Thanks to lightweight design, energy-efficient components and intelligent onboard network management, the Mireo will consume up to 25% less energy than trains with similar passenger capacity. In addition, hydrogen-powered trains such as the Mireo offer advantages over traditional electrification solutions, including reduced infrastructure costs and minimal environmental impact. Initial deployments of the fuel cell-powered Mireo train are planned for 2021.
Siemens is the largest industrial manufacturing company in Europe, headquartered in Munich, Germany and with offices around the globe. Siemens has more than 350,000 employees worldwide and the Company generated revenue in excess of €79 billion (US$94 billion) in 2016.
About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs. To learn more about Ballard, please visit www.ballard.com.