Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a non-binding Memorandum of Understanding (MOU) with Global Energy Ventures (ASX: GEV; www.gev.com) – a provider of integrated compressed shipping solutions for the transportation of energy to regional markets, headquartered in Australia – for the development of a new fuel cell-powered ship, called C-H2 Ship, designed to transport compressed green hydrogen.

The power required for a small-scale demonstration of the C-H2 Ship is expected to be under 10 megawatts (MW). At full scale, the C-H2 Ship will have a propulsion power requirement of approximately 26MW, and a containment system for storage of 2,000 tons of compressed green hydrogen.

GEV will be responsible for design approvals, development, financing, and operation of C-H2 Ship, along with integration of the required power system. Ballard will be responsible for design of the fuel cell system for the C-H2 Ship, based on its FCwave^TM technology, and will assist GEV with integration of the fuel cell system into the vessel’s design. Ballard’s FCwave^TM system will obtain its hydrogen fuel from the compressed green hydrogen stored onboard and transported by the vessel.

Martin Carolan, Executive Director of Global Energy Ventures said, “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 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.”

Rob Campbell, Ballard Chief Commercial Officer noted, “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.”