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   Technology StocksBallard Power -world leader zero-emission PEM fuel cells


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To: Jim who wrote (5734)5/24/2013 2:19:23 PM
From: Fishfinder
   of 5752
 
Well, 5years later and Now looking at good ole BLD once again.
Today anything Fuel Cell has ahd a fantatsic day; alll of em up 10-16%.
Was up??
I looked at BLD and well decided to place my bet.
Its looking like sales of all their products is on the cusp of good things to happen.
So I'm in for the long or the short of it; for now.

scot

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From: Fishfinder5/24/2013 3:50:36 PM
   of 5752
 
Well 6 times volume on BLD today.
NICE!!

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From: Savant6/14/2017 9:52:50 AM
   of 5752
 
Ballard receives fuel cell system order from FlyH2

Ballard Power Systems Inc (C:BLDP)
Shares Issued 174,749,630
Last Close 6/13/2017 $3.98
Tuesday June 13 2017 - News Release

Dr. Paul Osenar reports

BALLARD'S PROTONEX SUBSIDIARY RECEIVES FIRST ORDER FOR FUEL CELL SYSTEM TO POWER COMMERCIAL UAVS

Ballard Power Systems Inc.'s subsidiary, Protonex, has received an initial order for its fuel cell propulsion system, together with design services, from FlyH2 Aerospace, a South African-based developer of hydrogen-fuel-cell-powered unmanned aerial vehicles (UAVs) for commercial applications. For competitive reasons, commercial details of this order are confidential.

FlyH2 plans to integrate the Protonex fuel cell system into all three of its aircraft currently in the development pipeline, beginning with the UA Plant prototype drone, followed by its UA Alpha flagship aircraft. UA Plant is expected to be a 30 kilogram (66 lb.) fuel cell-powered agricultural utility aircraft with 9-hour flight endurance.

UA Alpha will be a long-range, long-endurance survey and reconnaissance aircraft designed to carry advanced sensors. Specifications include a wingspan of 8.2 meters (27 feet), maximum cruising altitude of 4,250 meters (14,000 feet) and flight distance of more than 600 kilometers (370 miles). Onboard sensors will survey environmental variables used in the management of fires, pollution, erosion, alien vegetation and plant diseases. In a similar development, FlyH2's third drone, the UA Gecko, is being designed to monitor physical infrastructure, including roads, bridges, pipelines and powerlines.

Dr. Paul Osenar, President of Protonex said, "FlyH2 has tremendous expertise in the design and development of drone systems, and recognizes the benefits offered by fuel cell propulsion. When combined with improved reliability and other advantages over internal combustion systems, fuel cells are proving to be a high value fit for UAVs. These will be the first civilian drones that we have powered, in addition to our work on military UAVs with several global aerospace customers."

Mark van Wyk, Co-Founder of FlyH2 Aerospace added, "Protonex systems bring with them unique new capabilities for our aircraft, allowing us to quickly fulfill our vision of producing high quality, rugged and reliable long-endurance electric unmanned aircraft."

A fuel cell propulsion system allows for endurances comparable to an internal combustion engine, but with several added benefits. These include silent operation, increased reliability, lower vibration and less maintenance. The total cost of ownership is also expected to be lower and the aircraft will only require one fuel stop per day for all-day operations.

In agriculture, the use of unmanned aerial vehicles rather than conventional piloted aircraft, which sometimes operate as low as 150 feet above the ground, reduces the risk to pilots and also avoids noise abatement issues. In addition, the enhanced reliability of fuel cell engines further protects people and property on the ground.

To support integration of the Protonex fuel cell propulsion system into its UA Plant aircraft, FlyH2 has partnered with Epsilon Engineering ("Epsilon"; www.epsilon-eng.com), a South African engineering and manufacturing services provider. Project work is partially funded by the Government of South Africa as well as the South African agriculture industry.

About Ballard Power Systems

Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in power and energy. To learn more about Ballard, please visit www.ballard.com.

F/B Kidl

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To: Savant who wrote (5738)9/14/2017 9:33:53 AM
From: kidl
1 Recommendation   of 5752
 
Hopefully you didn't lose patience like I did.

FP/wire say Ballard soars on fuel cell breakthrough

Ballard Power Systems Inc (C:BLDP)
Shares Issued 175,169,055
Last Close 9/13/2017 $5.72
Thursday September 14 2017 - In the News

The Financial Post reports in its Thursday edition that Ballard Power Systems surged to a three-year high after announcing a technology breakthrough that replaces most of the high-cost platinum used in earlier design. A Bloomberg dispatch to the Post says that Ballard soared $1.19 to close Wednesday at $5.72 in Toronto. Nisshinbo Holdings Inc., which has been working with Ballard on the project since 2013, enjoyed an equally strong day in Tokyo. High-cost precious metals in fuel cells have hindered broader adoption of the technology and Ballard has been working to eliminate as much platinum as possible from its products. The non-precious-metal-catalyst design, to be offered by the end of this year, reduces the amount of platinum by more than 80 per cent, Kevin Colbow, vice-president of technology, said in a statement late Tuesday. "Since platinum contributes 10 percent to 15 percent of the cost of a fuel cell stack today, we are very excited about the potential cost savings," Mr. Colbow said in the statement. Fuel cells convert hydrogen into electricity through a chemical reaction that relies on a catalyst, often platinum. Ballard is reducing the amount of platinum and using a lower-cost carbon alloy material.

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From: kidl11/2/2017 12:39:27 PM
   of 5752
 
Ballard Reports Q3 2017 Results

Canada NewsWire

VANCOUVER, Nov. 1, 2017

54% Revenue Growth, 32% Gross Margin and positive Adjusted EBITDA of $0.9M, with $60.1M ending Cash Reserves VANCOUVER, Nov. 1, 2017 /CNW/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced consolidated financial results for the third quarter ended September 30, 2017. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).

Randy MacEwen, President and CEO said, "In Q3, revenue improved 54% year-on-year to $31.9 million, gross margin was strong at 32%, and Adjusted EBITDA was positive $0.9 million. On a year-to-date basis in 2017, revenue has increased 48% to $81.0 million, gross margin has increased to 36%, and Adjusted EBITDA is positive $1.2 million. Moreover, for the trailing 12-month period Adjusted EBITDA was positive $3.0 million. Looking ahead, with an order backlog of $236.8 million, including an $82.4 million order book of expected deliveries over the subsequent 12-months, we are well positioned to deliver strong full-year 2017 results and to maintain our positive trajectory into 2018."

Mr. MacEwen continued, "Looking forward, a key business driver will continue to be the compelling value proposition offered by zero-emission fuel cell electric vehicles, or FCEVs, in numerous Heavy Duty Motive use cases. This is particularly true where vehicles must deal with long range or long hours of operation. In these situations FCEVs can deliver key financial and operational benefits while also addressing the limitations of a battery-only design, through extended range, rapid refueling and full route flexibility.

"As a result, we are seeing early adoption of fuel cell products for an expanding array of Heavy Duty FCEV applications, from mass transit buses to commercial trucks and trains. At the same time, fuel cell product adoption is also broadening globally, encompassing China, Europe, the U.S. and Japan. This growing product traction, combined with embedded optionality inherent in our Technology Solutions business – including opportunities in the automotive and drone markets – uniquely position Ballard to leverage the worldwide trend toward zero-emission transportation for the benefit of shareholders."

Q3 2017 Financial Highlights

(all comparisons are to Q3 2016 unless otherwise noted)

Revenue increased 54% to $31.9 million, reflecting growth in both Power Products and Technology Solutions. The Power Products platform generated revenue of $21.3 million, an increase of 45%: Heavy Duty Motive revenue was $17.8 million, an increase of 138% primarily from product shipments to fulfill orders in support of planned deployments of fuel cell electric vehicles in China; Portable Power revenue was $0.9 million in Q3, a decline of 72% primarily due to lower product shipments. The Q3 achievement of Milestone C in the U.S. Army Program of Record is expected to positively impact future product orders; Material Handling revenue was $2.0 million, a decline of 39% primarily due to lower stack shipments and a lower average selling price resulting from a shift in product mix; andTelecom Backup Power revenue was $0.6 million, a decline reflecting lower stack sales. The Technology Solutions platform generated revenue of $10.6 million, an increase of 78% primarily reflecting increased work on the stack joint venture, bus and tram programs in China. Gross margin was 32%, an improvement of 1-point primarily due to a favorable shift in product mix toward higher margin Technology Solutions and Heavy Duty Motive. Cash operating costs2 were $9.4 million, an increase of 11% due primarily to increased investment in research and product development related to next-generation products.

Adjusted EBITDA2 was $0.9 million in Q3, an improvement of $2.4 million or 158% primarily driven by higher revenue and higher gross margin. Net loss was ($1.0) million, an improvement of $3.2 million or 75%. Net loss per share was ($0.01), an improvement from ($0.03). Cash used by operating activities was ($7.7) million, an increase from ($0.5) million in Q3 2016, reflecting cash operating income of $0.6 million and a working capital change of ($8.3) million. The total change in working capital was driven by lower deferred revenue, as the Company fulfilled deliverables on certain contracts for which pre-payments had been received, as well as higher accounts receivable resulting from timing of revenue and related customer collections. Cash reserves were $60.1 million at September 30. Q3 2017 Highlights

Achieved an order backlog of $236.8 million as of September 30, representing the aggregate value of orders for which customers have made contractual commitments. Also achieved a 12-month order book of $82.4 million as of September 30, representing the aggregate value of that portion of the order backlog expected to be delivered in the subsequent 12-month period. Announced the opening of the FCvelocity®-9SSL fuel cell stack joint venture operation in the City of Yunfu, in China'sGuangdong Province, called Guangdong Synergy Ballard Hydrogen Power Co., Ltd. ("JVCo"). Fuel cell stacks manufactured by JVCo are expected to be used primarily in fuel cell engines assembled in China to provide propulsion power for zero-emission fuel cell electric buses and commercial vehicles. Accepted a Letter of Intent to provide FCveloCity®-HD 100-kilowatt fuel cell engines to power 8 ExquiCity tram-buses being built by Van Hool NV for delivery in Pau, France starting in the second half of 2019. A fuel cell electric bus operating in Transport for London's fuel cell bus fleet, powered by a Ballard FCveloCity®-HD6 engine, achieved a new durability record of more than 25,000 hours of revenue service with no significant maintenance to the fuel cell stack. Received a purchase order from Nisshinbo Holdings, a key Japanese partner, to engage in a Technology Solutions program that will assess the potential development of fuel cell stacks using a Non Precious Metal Catalyst for commercial material handling applications. Ballard subsidiary Protonex Technology Corporation announced that the U.S. Army Program Executive Office Soldier received signature approval for its Mobile Soldier Power Program of Record to full rate production status, commonly known as "Milestone C". The Program of Record includes a number of new devices, including Protonex' Squad Power Manager Kit and Vest Power Manager family. Q3 2017 Financial Summary




(Millions of U.S. dollars)

Three months ended Sept. 30,

Nine months ended Sept. 30,


2017

2016

% Change

2017

2016

% Change

GROWTH







Fuel Cell Products & Services Revenue:1








Heavy Duty Motive

$17.8

$7.5

138%

$37.1

$15.5

140%


Portable Power

$0.9

$3.0

-72%

$3.0

$8.5

-65%


Material Handling

$2.0

$3.3

-39%

$6.2

$9.9

-37%


Backup Power

$0.6

$0.8

-30%

$1.2

$2.8

-56%


Sub-Total

$21.3

$14.6

45%

$47.5

$36.7

30%


Technology Solutions

$10.6

$6.0

78%

$33.5

$17.9

87%

Total Fuel Cell Products & Services Revenue

$31.9

$20.6

54%

$81.0

$54.6

48%

PROFITABILITY







Gross Margin $

$10.2

$6.4

58%

$29.0

$14.8

95%

Gross Margin %

32%

31%

1-point

36%

27%

9-points

Operating Expenses

$11.1

$10.2

9%

$33.3

$33.3

0%

Cash Operating Costs2

$9.4

$8.4

11%

$27.8

$26.2

6%

Adjusted EBITDA2

$0.9

($1.5)

158%

$1.2

($11.6)

111%

Net Income (Loss)3

($1.0)

($4.2)

75%

($5.2)

($20.0)

74%

Earnings Per Share

($0.01)

($0.03)

67%

($0.03)

($0.13)

77%

Adjusted Net Loss2

($1.0)

($4.2)

76%

($4.3)

($18.4)

77%

Adjusted Net Loss Per Share2

($0.01)

($0.03)

67%

($0.02)

($0.12)

83%

CASH







Cash Used by Operating Activities:








Cash Operating Income (Loss)

$0.6

($2.4)

123%

$0.8

($13.5)

106%


Working Capital Changes

($8.3)

$1.9

-530%

($9.8)

$1.7

-695%


Cash Used By Operating Activities

($7.7)

($0.5)

-1,507%

($9.0)

($11.9)

24%

Cash Reserves

$60.1

$68.1

-12%






For a more detailed discussion of Ballard Power Systems' third quarter 2017 results, please see the company's financial statements and management's discussion & analysis, which are available at www.ballard.com/investors, www.sedar.com and www.sec.gov/edgar.shtml.

Conference Call
Ballard will hold a conference call on Thursday, November 2, 2017 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review its third quarter 2017 operating results. The live call can be accessed by dialing +1.604.638.5340. Alternatively, a live audio and slide webcast can be accessed through a link on Ballard's homepage ( www.ballard.com). Following the call, the audio webcast and presentation materials will be archived in the 'Investor Presentations and Events' area of the 'Investors' section of Ballard's website ( www.ballard.com/investors).

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From: kidl11/8/2017 9:55:40 AM
   of 5752
 
Ballard Power System's Rapidly Growing Heavy Duty Sector

Nov. 8, 2017 9:20 AM ET

Summary

Ballard Power has 3 key Heavy Duty Markets (US, Europe, and China).

US and Europe are still in the developmental stages, but if the projections are correct. The future is bright.

China is by far the most important sector in 2017 and is the main reason Ballard's heavy duty sector is relevant today.

More:

seekingalpha.com


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From: kidl11/14/2017 8:30:41 AM
   of 5752
 
Ballard and Siemens Sign $9M Multi-Year Development Agreement For Fuel Cell Engine to Power Cutting-Edge Mireo Commuter TrainCanada NewsWire

VANCOUVER and MUNICH, Germany, Nov. 14, 2017

VANCOUVER and MUNICH, Germany, Nov. 14, 2017 /CNW/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a Development Agreement with Siemens AG ("Siemens"; www.siemens.com) for the development of a zero-emission fuel cell engine to power Siemens' Mireo light rail train. The Development Agreement has a contemplated value of approximately $9.0 million to Ballard.



Under the terms of the Development Agreement, Ballard will develop a 200 kilowatt fuel cell engine for integration into Siemens' new Mireo train platform. Mireo is a modular commuter train platform designed for speeds of up to 160 kilometers per hour (100 miles per hour). Thanks to lightweight design, energy-efficient components and intelligent onboard network management, the Mireo will consume up to 25% less energy than trains with similar passenger capacity. Initial deployments of the fuel cell-powered Mireo train are planned for 2021.

Sabrina Soussan, CEO of the Mobility Division at Siemens said, "Our cooperation with Ballard is a decisive step towards replacing diesel-powered rail vehicles with emissions-free vehicles in the long term interests of sustainable and climate-friendly mobility. We want to be able to offer our customers flexible train solutions for various suburban routes, which vary according to regional conditions and technical possibilities."

Randy MacEwen, Ballard President and CEO added, "We are seeing rapid market demand growing for clean energy fuel cell technology in a range of Heavy Duty Motive applications, including trains, trams, transit buses and commercial trucks. This Development Agreement with Siemens, a major industrial conglomerate and leading global train OEM, is a testament to the overall value proposition offered by Ballard's fuel cell technology in a demanding use case and duty cycle. In this application, fuel cells enable electrification with range, without the need for costly catenary wire infrastructure."

Siemens is the largest industrial manufacturing company in Europe, headquartered in Munich, Germany and with offices around the globe. Siemens has more than 350,000 employees worldwide and the Company generated revenue in excess of €79 billion (USD$94 billion) in 2016.

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From: kidl12/7/2017 11:38:18 AM
   of 5752
 
New Fuel Cell Engine Facility Commissioned in Shanghai Canada NewsWire

VANCOUVER and SHANGHAI, China, Dec. 6, 2017

Shanghai Edrive, division of Broad-Ocean, is the first facility for Chinese produced Ballard fuel cell modules Ceremony attended by the Honourable Catherine McKenna, Canada's Minister of Environment and Climate Change VANCOUVER and SHANGHAI, China, Dec. 6, 2017 /CNW/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that a subsidiary of strategic partner Zhongshan Broad-Ocean Motor Co., Ltd. ("Broad-Ocean"; www.broad-ocean.com/en/index.html) – called Shanghai Edrive Co. Ltd. ("Shanghai Edrive") – has commissioned its fuel cell engine manufacturing facility located in the City of Shanghai, China. Shanghai Edrive will assemble Ballard FCveloCity® 30-kilowatt (kW) and 85kW fuel cell engines at the facility under a technology transfer, licensing and supply arrangement between Ballard and Broad-Ocean that closed earlier this year. Broad-Ocean also plans to assemble Ballard-designed engines at facilities in Hubei and Shandong Provinces.



An opening ceremony held today at the Shanghai Edrive facility was attended by the Honourable Catherine McKenna, Canada's Minister of Environment and Climate Change and Mr. Ma Xingfa, Vice Chairman of the Shanghai Municipal Government Science and Technology Committee, along with Mr. Gong Jun, CEO of Shanghai Edrive and Mr. Alfred Wong, Managing Director of Guangzhou Ballard Power Systems Co., Ltd.

Minister McKenna noted, "Clean fuels reduce carbon pollution and help improve air quality. That's why Canada supports innovative businesses like Vancouver-based Ballard. Its fuel cells, which are used for electric buses, facilitate affordable zero-emission transportation. Ballard is commercializing and exporting clean energy solutions that are in demand here in China, and around the globe."

Randy MacEwen, Ballard President and CEO said, "Commissioning of Shanghai Edrive's facility is an important step in our strategy to localize production in China, as the market for fuel cell-powered heavy duty applications – including buses and commercial trucks – heats up in China. And, this timing dovetails with the recent roll-out of the Shanghai Fuel Cell Vehicle Development Plan, a ground-breaking initiative for large-scale vehicle deployment. The Plan includes annual production targets of 3,000 fuel cell electric vehicles by 2020 and 30,000 fuel cell electric vehicles by 2025."

Mr. MacEwen continued, "We are thrilled to have Broad-Ocean as a key partner to accelerate the adoption of fuel cell-powered heavy-duty vehicles in China. Broad Ocean has manufacturing scale, supply chain muscle, operations excellence, bus and commercial vehicle OEM relationships, and a strong balance sheet. Ballard will also benefit from Broad-Ocean's demand pull-through of fuel cell vehicles for use in its own new energy vehicle leasing business."

Mr. Gong Jun, Shanghai Edrive CEO added, "We anticipate significant demand for zero-emission fuel cell electric buses and commercial trucks in key Chinese cities, including Shanghai. We are excited to collaborate with Shanghai to support implementation of the Shanghai Fuel Cell Vehicle Development Plan. Our company has already started production of Ballard-designed fuel cell engines and we expect to scale our manufacturing operation through 2018."

Shanghai Edrive's fuel cell engine manufacturing facility is over 50,000 square feet and has a capacity to manufacture and test several thousand engines annually. Ballard has provided training to Shanghai Edrive to ensure consistent manufacturing build quality and engine performance.

Each fuel cell engine assembled by Shanghai Edrive will utilize FCvelocity®-9SSL fuel cell stacks manufactured by Guangdong Synergy Ballard Hydrogen Power Co., Ltd., a joint venture owned by Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd. ("Synergy") and Ballard in the City of Yunfu in China'sGuangdong Province. The joint venture manufacturing facility was commissioned in September 2017.

Shanghai Edrive was founded in 2008 as a manufacturer of electric drive systems and motor controllers for use in a variety of electric vehicles and has been a subsidiary of Broad-Ocean since 2016.

On August 18, 2016 Broad-Ocean became Ballard's largest shareholder following an investment of $28.3 million in Ballard common shares, representing approximately 9.9% of Ballard's outstanding common shares following the transaction. During 2017 Broad-Ocean has manufactured over 70 million motors to power small and specialized electric machinery for electric vehicles (EVs), including buses, commercial vehicles and passenger vehicles, and for heating, ventilation and air conditioning (HVAC).

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From: kidl2/14/2018 10:14:18 AM
   of 5752
 
Ballard Announces Planned Deployment of 500 Fuel Cell Commercial Trucks in Shanghai

PR Newswire

VANCOUVER and SHANGHAI, Feb. 13, 2018

500 licensed trucks highlight progress in the adoption of Ballard fuel cell technology in China's transportation sector Expected to be world's largest deployment of fuel cell commercial trucks VANCOUVER and SHANGHAI, Feb. 13, 2018 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced the planned deployment of 500 licensed fuel cell electric commercial trucks – all using Ballard fuel cell stack technology – in Shanghai, China.



Each of the 500 Dongfeng Special Vehicle trucks is now licensed, plated and powered by a 30 kilowatt fuel cell engine that was designed and integrated by Shanghai Reinventing Fire Technology Company Limited ("Re-Fire"), featuring Ballard FCvelocity®-9SSL proton exchange membrane (PEM) fuel cell stacks.

Each box van truck is manufactured by Dongfeng Special Vehicle Co. Ltd., measures 6.4 meters (21 feet) in length, can carry a load of 3.2 tons and has an expected range of more than 330 kilometers (205 miles). The trucks will be operated by Shanghai Sinotran New Energy Automobile Operation Co., Ltd., a newly established fuel cell electric vehicle operator, and are expected to be used primarily for intra-city deliveries of goods.

Ballard and Re-Fire have entered into a collaboration agreement under which Re-Fire has agreed to use Ballard-designed fuel cell stacks in its fuel cell engines. Ballard's FCvelocity®-9SSL stacks are now being manufactured and are available from Guangdong Synergy Ballard Hydrogen Power Co., Ltd., Ballard's joint venture in Yunfu, Guangdong Province.

"Re-Fire has developed a leading position as a system integrator in the fast-moving Chinese fuel cell transportation market," said Randy MacEwen, Ballard President and CEO. "We are pleased to be collaborating with Re-Fire as we drive market adoption of fuel cell electric vehicles – or FCEVs – incorporating Ballard fuel cell technology. We believe this is the largest planned deployment of fuel cell-powered trucks anywhere in the world. It is not surprising that this is happening in Shanghai given that city's leadership in the commercial adoption of FCEVs."

Mr. Robin Lin, Re-Fire CEO noted, "Fuel cell electric commercial trucks represent a large and attractive market opportunity in China, particularly where user requirements favor long range, heavy payloads and fast refueling. Ballard is the premier global PEM fuel cell technology company, so using Ballard-designed fuel cell stacks in our engines was an easy decision."

Mr. Lin concluded, "With the integration work completed in late-2017, and all 500 commercial trucks having received green license plates for new energy vehicles in Shanghai, we are now preparing for vehicle launch. We expect to deploy all 500 trucks in 2018, subject to parallel activities, including appropriate scaling of fueling infrastructure and our service platform."

In 2017, the Science and Technology Commission of Shanghai, the Shanghai Municipal Commission of Economy and Information and the Shanghai Municipal Development & Reform Commission launched the "Shanghai Fuel Cell Vehicle Development Plan", a ground-breaking Plan calling for the annual production of 3,000 FCEVs by 2020.

Two recently-constructed hydrogen refueling stations are currently operating in Shanghai, with two additional stations planned for completion in the first half of 2018. As per the "Shanghai Fuel Cell Vehicle Development Plan", a total of 5-to-10 hydrogen fueling stations are planned by 2020.

China is forecasted to account for approximately 42% of global production of medium- and heavy-duty trucks in 2020, or approximately 1.1 million units, according to LMC Automotive.

About Shanghai Reinventing Fire Technology Company Limited ("Re-Fire")
Re-Fire is recognized as an integration leader in the fuel cell industry, offering innovative proprietary fuel cell engine products and state-of-the-art fuel cell powertrain solutions to OEM customers and end users. To learn more about Re-Fire, please visit re-fire.com.

About Dongfeng Special Vehicle Company Limited
Founded in 1969, Dongfeng Special Vehicle Co., Ltd. is a special purpose vehicle manufacturer located in China in Shiyan in Hubei Province, China. A member of the Dongfeng group of companies, it manufactures dump trucks, box van trucks, truck mounted loader cranes, wing van trucks, and other vehicles under the Dongfeng brand name. To learn more, please visit dftq.net.

About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated deployment of vehicles incorporating our products. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. The Ballard Common Shares have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE Ballard Power Systems Inc.


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From: kidl2/14/2018 8:06:52 PM
   of 5752
 
Ballard Wins $4.2M Program to Develop Next-Gen Air-Cooled Fuel Cell Stack For Forklift Trucks

PR Newswire

VANCOUVER, Feb. 14, 2018

  • Ultra-high durability stack expected to enable significant cost reduction in Class 3 lift trucks powered by fuel cells
VANCOUVER, Feb. 14, 2018 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a Technology Solutions program with an unnamed strategic customer to develop a next generation air-cooled fuel cell stack. The multi-year program has an initial value to Ballard of approximately $4.2 million.



A key objective of the Technology Solutions program is to design and validate an ultra-high durability, high performance air-cooled fuel cell stack for uses in a number of target market applications, including certain material handling applications, with a target operating lifetime of 20,000 hours. A key market opportunity will be the integration of the next generation stacks into fuel cell systems for class 3 lift trucks, such as pallet jacks, deployed in high throughput distribution centers and warehouse operations. Other potential applications include systems for stationary continuous and backup power.

Dr. Kevin Colbow, Ballard Vice President – Technology and Product Development said, "We are excited to win this innovative development program with an important strategic partner. We believe an air-cooled fuel cell stack with 20,000 hours of operating lifetime in demanding operating conditions will be industry leading. This next generation stack is expected to significantly reduce the total cost of ownership for fuel-cell powered Class 3 lift trucks, thereby increasing the value proposition and serviceable addressable market."

About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated development results and impacts on our products. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. The Ballard Common Shares have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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