Ballard Power Systems Grant Applications Selected by U.S. Department of Energy
By Adriano Marchese
Ballard Power Systems said Thursday that its grants for $40 million in funding have been selected by the U.S. Department of Energy to support the construction of its hydrogen fuel cell factory in Texas.
The Canadian fuel cell products manufacturer said that its two grant applications under the Clean Hydrogen Electrolysis, Manufacturing and Recycling Program have been selected and recommended for negotiation of financial awards by the department.
The $40 million in total grants are made up of $30 million to advanced proton exchange membrane electrode assemblies and automated stack assembly, and $10 million to for a flexible graphite bipolar plate manufacturing line.
The expected grants will support the company's construction and build-out of an integrated fuel cell production gigafactory based in Rockwall, which is currently in the planning phase.
Ballard currently has plans to invest $160 million, net of the expected grants, starting this year until the end of 2027 to build and commission the new factory.
The company said it plans to make a final investment decision for this facility later in the year, which will require necessary approvals and negotiation of final awards with the DOE.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 14, 2024 09:13 ET (13:13 GMT)
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