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Ballard announces $40 million in DOE grants to support build-out of industry-leading integrated fuel cell production Gigafactory in Rockwall, Texas
Ballard announces $40 million in DOE grants to support build-out of industry-leading integrated f...
About this update from Ballard Power Systems Inc.
[{"type":"text","content":"\n \n \n \n Ballard announces $40 million in DOE grants to support build-out of industry-leading integrated fuel cell production Gigafactory in Rockwall, Texas\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC and\n \n ROCKWALL, Texas\n \n \n ,\n \n \n March 14, 2024\n \n \n /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced it has received notification from the Hydrogen and Fuel Cell Technologies Office within the U.S. Department of Energy (DOE) that Ballard's applications for two grants totaling\n \n US$40 million\n \n under the\n \n Clean Hydrogen Electrolysis, Manufacturing, and Recycling Program\n \n have been selected and recommended for negotiation of financial awards. The grants will support Ballard's construction and build-out of an integrated fuel cell production Gigafactory based in\n \n Rockwall, Texas\n \n .\n \n \n \n \n \n \n \n \n \n Ballard plans for the new facility, dubbed\n \n Ballard Rockwall Giga\n \n 1, to be located on a parcel of 22 acres of industrial land within the Rockwall Technology Park in\n \n Rockwall, Texas\n \n . In Phase I, Ballard plans to invest approximately\n \n US$160 million\n \n (net of the\n \n US$40 million\n \n in expected DOE grants) from 2024 through the end of 2027 to build and commission a new manufacturing facility with annual production capacity of 8 million membrane electrode assemblies (MEAs), 8 million bipolar plates, 20,000 fuel cell stacks, and up to 20,000 fuel cell engines per year, or the equivalent of 3 gigawatts of fuel cells. The land acquisition rights and facility design provide Ballard with optionality for additional future phases at the Rockwall site. Future phases are expected to further increase production scaling and capacity expansion with much lower capital requirements.\n \n \n The facility represents the next stage of Ballard's 'local for local' and advanced manufacturing strategy. Ballard expects to make a final investment decision on this facility later in 2024, pending completion of customary conditions, including nece...