GEV signs MOU with Ballard Power to develop fuel cell powered C-H2 ship

February 4, 2021

Global Energy Ventures, is pleased to provide an update on the development of a new compressed hydrogen ship (C-H2 Ship) and supply chain to transport the zero-carbon fuel of the future.

HIGHLIGHTS:

GEV and Ballard Power Systems Inc. (Ballard) have executed a Memorandum of Understanding (MOU) to design and develop a hydrogen fuel cell system for GEV’s C-H2 Ship.
GEV and Ballard will work to power the C-H2 Ship using Compressed Hydrogen from its storage tanks, providing a zero-emission marine transport supply chain.
Ballard will be responsible for the design of the fuel cell system (FC System), utilising its FC Wave Technology and to assist GEV with the integration of the FC System into the design of the C-H2 Ship.
Both parties will work collaboratively to complete a final design and procure all necessary approvals, and full costing for the C-H2 Ship, utilising a Ballard FC System.
Listed on the TSX and NASDAQ, Ballard is headquartered in Toronto, and is a global leader in the development of clean energy products that includes FC Systems for the marine sector, with 6 hydrogen fuel cell-powered vessel projects currently underway.

Martin Carolan, Executive Director commented: “This MOU is a significant step in our development of the Company’s C-H2 Ship, with hydrogen fuel cells now at the forefront of zero-emission technologies for shipping. We look forward to working with Ballard Power Systems on the development of the C-H2 Ship’s fuel cell system and power requirements in line with our development program for a compressed shipping solution for hydrogen marine transport at scale. GEV will provide regular updates as the activities planned under the MOU progresses through the course of 2021.”

Ballard’s Rob Campbell, Chief Commercial Officer commented: “Hydrogen and fuel cell technology provide a compelling path for the decarbonization of the maritime sector, one of the key Medium- and Heavy-Duty Motive applications for which our products offer a particularly strong value proposition. Working with Global Energy Ventures will allow us to advance megawatt-scale hydrogen fuel cell and storage integration on board a large marine vessel. We are looking forward to collaborating with GEV on the visionary C-H2 Ship.”