Neuman & Esser, Ballard Invest in Quantron for Hydrogen-Based Mobility

Leading fuel cell expert Ballard Power Systems from Canada and the German hydrogen system specialist Neuman & Esser  have announced that they are investing in Quantron AG as part of a financing round totaling up to EUR 50 million.

With a company valuation of EUR 250 million, Neuman & Esser acquires a minority stake and also secures an option for further investment. Through this, the machine and plant manufacturer underscores its commitment to this strategic partnership.

Quantron said that Canada-based Ballard Power is also acquiring a minority stake in the single-digit million range and is additionally entering into a development cooperation with Quantron for the accelerated market launch of fuel cell vehicles with up to 4 vehicles over the next 12 months.

Quantron delves in battery and hydrogen electric commercial vehicles. With Quantron -as-a-Service (QaaS), it offers a 360-degree OEM-open ecosystem for its customers. The financing round serves to accelerate the development of further BEVs and FCEVs with a focus on Heavy Duty Trucks. The funding will also help further expand the QaaS ecosystem.

Quantron also said that the Hydrogen Alliance will provide customers with a 360-degree open platform that in future, in addition to zero-emission H2 vehicles.

Neuman & Esser focuses on hydrogen-related products and services to support customers in the decarbonisation of their energy or industrial systems and decentralised applications. A significant part of the product portfolio focuses on the generation and use of climate-neutral hydrogen.

Ballard Power Systems have also acquired a minority stake in Quantron AG to accelerate the introduction of fuel cell vehicles in Europe and the US. Ballard’s investment is intended to support the development of fuel cell vehicle platforms under a Joint Development Agreement (JDA). Ballard will be Quantron’s exclusive fuel cell supplier for these truck platforms.

Michael Perschke, CEO of Quantron, said, “However we don’t see ourself as a competitor to existing OEMs – but rather as an engineering and H2-fueling platform partner thus allowing the acceleration of hydrogen adoption as a source of energy for transportation with a focus on heavy duty and long distance transportation.”

“We know of course moving forward over the next years and decades that freight logistics will grow and GHG-emissions will therefore grow unless we have market value zero emission solutions,”, said Randy McEwen, CEO, Ballard.

Ballard Businesses in India  

Earlier this year, Ballard Power signed an MOU with India’s Adani Group to evaluate a joint investment case for the commercialization of fuel cells in various mobility and industrial applications in India.

In July, 2021, it received a purchase order for its 70-KW FCmoveTM-HD fuel cell modules from Tata Motors to power 15 of Tata’s zero-emission Fuel Cell Electric Buses as an initial order.

Ballard Power Systems has also announced that it has received a fuel cell module order from Medha Servo Drives – a contractor for the Indian Railways – to develop India’s first hydrogen powered trains.