Ballard Power Systems announced a minority equity investment in Quantron AG to accelerate fuel cell truck adoption.
As part of Quantron’s financing round of up to €50 million, Ballard’s investment proceeds will be used by Quantron to develop their truck fuel cell vehicle platforms under the terms of a Joint Development Agreement. Ballard will be the exclusive fuel cell supplier to Quantron for these platforms.
As part of the strategic partnership, Quantron committed to purchasing 140 FCmoveTM modules totalling approximately 17MW, with an option to buy an additional 50 units. The fuel cell modules are expected to be delivered in 2023 and 2024.
The zero-emission fuel cell electric vehicle platforms developed by Quantron will integrate Ballard fuel cell products for various truck applications in Europe and the US. Quantron’s initial market focus is Germany, where its new 44T fuel cell truck will be unveiled at IAA Transportation 2022.
Randy MacEwen, CEO of Ballard Power Systems, said, “We are seeing growing global demand and policy support for zero-emission transport as companies strive to reach decarbonization targets. This collaboration accelerates our entry into the European truck market and aims to have Quantron’s initial hydrogen-powered, zero-emission trucks on the road in the next 18 months.”
Andreas Haller, founder and Chairman of Quantron AG, said, “We see compelling mobility use cases where fuel cell engines are the most suitable zero emission solution, given the power and range requirements of the application.”
Michael Perschke, CEO of Quantron AG, added, “We want to offer our customers the best solution possible, and our continued collaboration with Ballard allows us to advance our environmentally friendly offerings to meet our customers’ needs, including range, payload, and refuelling time, with an increasingly competitive total cost of ownership.”