EQS Group-Ad-hoc: Leclanché SA / Key word(s): Miscellaneous/Miscellaneous Leclanché to Provide Advanced Battery Technology for Canadian Pacific's Hydrogen-powered Locomotive Project - Leclanche to supply its proprietary lithium-ion batteries and energy management software to be integrated with the fuel cell modules - The breakthrough project is an entry into the freight-rail market that includes more than 45,000 diesel locomotives in North America and G5 European countries - Testing will take place along Canadian Pacific's rail network in Canada
YVERDON-LES-BAINS, Switzerland and ANDERSON, Indiana, 11 May 2021 - Leclanché SA (SIX: LECN) will provide its proprietary battery technology to Canadian Pacific (TSX: CP) (NYSE: CP) for its innovative Hydrogen Locomotive Program. The CP hydrogen-powered locomotive pioneering project, first announced in December 2020, will retrofit a line-haul diesel freight locomotive with hydrogen fuel cells and Leclanché's European manufactured lithium-ion batteries to power the locomotive's electric traction motors. Leclanché will also provide its proprietary energy management software for optimum integration. The project is designed to evaluate the combined technologies' readiness for the freight rail sector. Once the locomotive is operational, CP will conduct rail service trials and qualification testing. CP operates a 21,000-km (13,000-mile) rail network across Canada and the U.S. that serves deep-water ports on the Atlantic and Pacific Oceans. The market for freight rail is large and growing across the world. In 2018, year-over-year, Canada's freight rail sector's workload, measured by gross ton-miles, increased by 6.2%, and increased 10.1% compared with the five-year average. The distance travelled by Canada's freight trains, measured by freight train-miles, increased by 5.4% to 68.6 million in 2018 versus 2017. "Leclanché is pleased to have been chosen by Canadian Pacific for inclusion in its hydrogen locomotive, zero emission freight train program," said Anil Srivastava, CEO, Leclanché. "This project further expands our addressable market to include electrification of the freight rail sector representing a major global opportunity for the reduction of greenhouse gases." "Our battery systems and energy management software solution significantly increase the total energy efficiency compared to standalone fuel cell modules, reducing the total cost of ownership. In addition to North America, we are currently looking at the freight train market in Europe, Australia, Brazil and South Africa - all of which are ideally suited for the transformation of their current diesel stock," said Srivastava. SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units. You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results. Contacts
End of ad hoc announcement |
Language: | English |
Company: | Leclanché SA |
Av. des Sports 42 | |
1400 Yverdon-les-Bains | |
Switzerland | |
Phone: | +41 (24) 424 65-00 |
Fax: | +41 (24) 424 65-20 |
E-mail: | investors@leclanche.com |
Internet: | www.leclanche.com |
ISIN: | CH0110303119, CH0016271550 |
Valor: | A1CUUB, 812950 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1194591 |
End of Announcement | EQS Group News Service |
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1194591 11-May-2021 CET/CEST