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Ballard announces MOU with Adani for hydrogen fuel cells in India
Ballard announces MOU with Adani for hydrogen fuel cells in India Canada NewsWi...
About this update from Ballard Power Systems Inc.
[{"type":"text","content":"\n \n \n \n Ballard announces MOU with Adani for hydrogen fuel cells in India\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\n \n and AHMEDABAD,\n \n India\n \n ,\n \n Feb. 22, 2022\n \n /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced today it has signed a non-binding Memorandum of Understanding (\"MOU\") with the Adani Group (\"Adani Group\"; NSE: ADANIENT) to evaluate a joint investment case for the commercialization of fuel cells in various mobility and industrial applications in\n \n India\n \n . Under the MOU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in\n \n India\n \n .\n \n \n \n \n \n \n \n \n \n Adani Group, founded in 1988, is the largest and fastest-growing portfolio of diversified businesses in\n \n India\n \n , with a current market capitalization of approximately\n \n US$150 billion\n \n , comprising of seven publicly listed companies with businesses spanning power generation and distribution, renewable energy, gas and infrastructure, logistics (seaport, airports, shipping, and rail), mining and resources, and other sectors. Adani Group is the largest solar power developer in the world and has a goal to be the world's largest renewable energy company by 2030. Adani Group has committed to investing\n \n US$70 billion\n \n in solar, wind and hydrogen value chains over the next decade as part of its commitment to global action on climate change.\n \n \n Hydrogen is increasingly viewed as a critical medium for the decarbonization of energy, industry, and mobility. Adani Group aims to be one of the largest green hydrogen producers in the world through accelerated investment in renewable energy. Efforts under this MOU will be anchored by Adani New Industries Limited, the newly formed subsidiary of Adani Enterprises, focused on generation of green hydrogen, including downstream products, green electricity generation, manufacture of electrolyzers and wind turbines, among others.\n \n \n \"Green hydrogen is the f...