February 3, 2021

The Canadian company Ballard Power Systems signs a Memorandum of Understanding with Global Energy Ventures (GEV), provider of integrated compressed maritime transport solutions for the transport of energy to regional markets based in Australia for the development of a new ship with fuel cell. fuel, called C-H2 Ship, designed to carry compressed green hydrogen.

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

GEV will be responsible for the approval of the design, development, financing and operation of the C-H2 vessel, as well as the integration of the necessary power system. Ballard will be responsible for the design of the fuel cell system for the C-H2 Ship, based on its FCwaveTM technology, and will help GEV integrate the fuel cell system into the ship's design. Ballard's FCwaveTM system will source its hydrogen fuel from compressed green hydrogen stored on board and transported by the ship.

"This MOU is an important step in our development of the company's C-H2 vessel, as hydrogen fuel cells are now at the forefront of zero-emission technologies for shipping. We look forward to working with Ballard in the development of the C-H2 Ship's fuel cell system and power requirements, in line with our program to develop a compressed hydrogen maritime transportation solution at scale."

Martin Carolan, CEO of Global Energy Ventures,

"Hydrogen and fuel cell technology offer a compelling path to decarbonizing the maritime sector, one of the key medium and heavy motor applications for which our products offer a particularly strong value proposition. Working with Global Energy Ventures "It will allow us to advance the integration of the megawatt-scale hydrogen fuel cell and its storage on board a large maritime vessel. We look forward to collaborating with GEV on the visionary C-H2 vessel."

Rob Campbell, Ballard Chief Commercial Officer