Ballard Power Systems (NASDAQ: BLDP), a leading producer of fuel cells, has signed a letter of intent with Ford Trucks to supply a fuel cell system for the development of a hydrogen-powered vehicle prototype. The agreement includes an initial order for 2 FCmove™-XD 120 kW fuel cell engines, scheduled for delivery in 2023.

The 120 kW FCmove-XDTM fuel cell engines will be integrated into Ford Trucks' F-MAX 44-ton long-haul tractor truck, which will be manufactured in Turkey. The goal is to commence European Ten-T corridor demonstrations in 2025 as part of the European Union's Horizon Europe ZEFES project, aimed at accelerating the adoption of Zero Emission Vehicles for long-distance heavy transport.

David Mucciacciaro, Ballard Chief Commercial Officer stated: "Ford Trucks is an important 'platform' win for Ballard and a key partner for our high growth potential truck vertical.”

Ford Trucks' Vice President Emrah Duman added: “We are thrilled to be working with Ballard on this critical project. This long-term relationship will generate enormous value in the future.”

Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power.

Shares of Ballard Power Systems trade on the NASDAQ under the ticker symbol BLPD.