This was Ballard - posted two days ago.
Peter
..."17M Deal to Provide Fuel Cell Power Products for ~300 Buses in China by Charles Gross.....2 days ago"
BLDP
Ballard Power Systems (NASDAQ: BLDP) signed a new long-term license and supply agreement with an existing partner in China, Guangdong Synergy Hydrogen Power Technology Co., Ltd. ("Synergy"), to provide fuel cell Power Products and Technology Solutions in support of the planned deployment of approximately 300 fuel cell-powered buses in the cities of Foshan and Yunfu, China.
The deal has an estimated initial value of $17 million through 2016, with the opportunity for significant recurring royalties starting in 2017. The agreement includes supply and sale of fully-assembled fuel cell power modules, ready-to-assemble module kits, a technology license for localization of assembly, supply of proprietary fuel cell stacks and long-term recurring royalties leveraged to unit volumes of locally assembled modules.
"We are thrilled to have Ballard selected as the exclusive supplier of fuel cell technology for the largest ever global deployment of fuel cell buses," said Randy MacEwen, Ballard President and CEO. "The Foshan and Yunfu governments are demonstrating strong vision and leadership by championing a collaboration model that addresses mass transit needs, supports air quality initiatives and contributes to continued economic development."
Mr. Xu Guo, Vice Mayor of the City of Yunfu said, "We are moving the Cities of Foshan and Yunfu into the future by adopting clean, quiet and economical fuel cell buses. And, we are pleased to have a strong consortium of partners, including Ballard, Synergy and Feichi Bus."
Mr. Ma Dongsheng Frank, CEO of Synergy stated, "We selected Ballard, the global leader in fuel cell technology for buses, as our exclusive technology partner. Ballard's flexible approach in developing a partnership model along with leading technical solutions that address the unique needs and opportunities in the Chinese market has been impressive. We look forward to localizing assembly of Ballard fuel cell modules in Foshan / Yunfu to meet the fast-growing demand for clean energy buses in China."
Mr. Chen Xiaomin, Vice Chairman of Foshan Automobile Transportation Group Co., Ltd. added, "Foshan Automotive is a leader in the manufacture of clean energy buses in Guangdong Province. We see strong demand for low carbon solutions, and are excited by the opportunity to be first-to-market with a fuel cell bus offering. This deal represents a potential catalyst for further advancement and adoption of fuel cell buses in China."
