Ballard Power Systems Inc. expects to supply over half the fuel cells for a demonstration program between the U.S. government and major automakers.
“That’s a huge opportunity for us,” Stephen Kukucha, Ballard’s director of external affairs, said in an interview. “We’ve delivered the technology to the automakers and they are now going to roll out the demonstration fleets to the locations and cities where they are demonstrating.”
The U.S. government announcement came just a day after Ballard committed to offering commercially viable fuel cell stack technology for hydrogen-powered vehicles by 2010.
Ballard shares (TSX:BLD) rose about 7% on the news.
General Motors Corp. and DaimlerChrysler AG reported yesterday that they have signed agreements with the U.S. Department of Energy to develop hydrogen fuel cell vehicles over the next five years.
GM plans to build a fleet of 40 hydrogen fuel vehicles and will spend $44 million to distribute them in Washington, New York, California and Michigan. The Energy Department will also contribute $44 million.
DaimlerChrysler, will invest more than $70 million in the partnership. The company will place fuel cell vehicles with consumers who will give feedback on their performance. The company said it already is testing 100 fuel cell vehicles in various locations around the world.
“If our research program is successful, it is not unreasonable to think that we could be approaching commercialization and mass marketing of these kinds of vehicles in maybe 15 years,” Energy Secretary Samuel Bodman said at the National Hydrogen Association’s annual conference in Washington.
GM, the world’s largest automaker, also announced that Shell Hydrogen LLC will set up five hydrogen refuelling stations in Washington, New York, California and along the Eastern seaboard.
Investors have been waiting years to reap the financial rewards for their investments in the technology being offered by Ballard, which has lost $450 million US in the last three years alone.
Loading...