Chart and Ballard Successfully Test a Fuel Cell Powered by Liquid Hydrogen

ATLANTA and VANCOUVER, British Columbia, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Leveraging more than 90 years of combined hydrogen experience and collaborating under the heavy-duty hydrogen fuel system joint development MOU announced February 10, 2021, Chart Industries, Inc. (“Chart”) (NYSE: GTLS) and Ballard Power Systems (“Ballard”) (NASDAQ: BLDP; TSX: BLDP) have successfully tested a fuel cell powered by liquid hydrogen. For the test, a Ballard FCmove™ -HD fuel cell was paired with a Chart liquid onboard hydrogen (“HLH2”) vehicle fuel system (functionally identical to the one displayed at ACT Expo on September 1, 2021); this testing was conducted at Chart’s hydrogen test facility in Minnesota, USA.

The demonstration confirms that heavy-duty vehicles powered by Ballard fuel cells will be able to employ Chart HLH2 vehicle fuel systems that utilize liquid hydrogen as a fuel. Liquid hydrogen has a significant space, weight and range advantage compared with gaseous hydrogen, allowing for up to double the range without space claim and payload impacts, and simplified fueling infrastructure for heavy-duty mobility applications such as class-8 trucks, buses, rail, and marine. This recent work builds upon Chart’s previous fill, hold, and vaporization testing of the Chart HLH2 vehicle fuel system, and long-established credentials in LNG service for vehicle fuel systems (HLNG).

Building upon this success will be to identify applications in which liquid hydrogen has the potential to unlock long distance opportunities, such as truck, coach bus, off-road, rail and marine. The products tested as part of the work to date include Ballard’s FCmove™ and Chart’s LH2 tanks which would be suitable for such applications. Chart and Ballard are working to identify a demonstrator for the liquid hydrogen road testing which is anticipated to occur over the coming few months.

About Chart Industries, Inc.

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, passenger cars and forklift trucks. To learn more about Ballard, please visit www.ballard.com.

FORWARD LOOKING STATEMENTS

Certain statements made in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning Chart and Ballard’s business plans, including statements regarding objectives, future orders, business trends, fuel cell technology growth opportunities and the related commercialization opportunities using liquid hydrogen fuel systems, and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as "may," "will," "should," "could," "expects," "anticipates," "believes," "projects," "forecasts," “outlook,” “guidance,” "continue," “target,” or the negative of such terms or comparable terminology.

Forward-looking statements contained in this press release or in other statements made by Chart and Ballard are made based on management's expectations and beliefs concerning future events impacting the collaborative business venture of the two companies and are subject to uncertainties and factors relating to the their respective operations and business environment, all of which are difficult to predict and many of which are beyond either company’s control, that could cause the actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause the Chart and Ballard’s actual results to differ materially from those described in the forward-looking statements include: the ability of both parties to successfully implement and commercialize the heavy-duty hydrogen fuel system joint development; and market acceptance of this fuel system and other clean energy product offerings; continued volatility in raw materials and supply; and risks relating to the outbreak and continued uncertainty associated with the coronavirus (COVID-19) and the related disruptions to Chart and Ballard’s operations. The parties undertake no obligation to update or revise any forward-looking statement

Investor Relations Contact – Chart Industries:

Wade Suki, CFA
Director of Investor Relations
832-524-7489
wade.suki@chartindustries.com

Investor Relations Contact – Ballard Power Systems:

Kate Charlton
VP Investor Relations
+1.604.453.3939
Media@ballard.com
Investors@ballard.com