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


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From: kidl5/1/2018 9:06:41 AM
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Ballard Receives Purchase Order for 40 Fuel Cell Modules to Power Van Hool Buses in Germany

PR Newswire

VANCOUVER and KONINGSHOOIKT, Belgium, May 1, 2018

VANCOUVER and KONINGSHOOIKT, Belgium, May 1, 2018 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced it has received a purchase order from Van Hool NV ("Van Hool"; vanhool.be, a bus OEM partner in Belgium, for 40 FCveloCity®-HD fuel cell modules to power buses under the Joint Initiative for hydrogen Vehicles across Europe ("JIVE") funding programs. The purchase order is further to Ballard's announcement of a Letter of Intent, which was issued on February 28, 2018.

Ballard expects to make initial shipments of the FCveloCity®-HD 85 kilowatt modules later in 2018, with initial deliveries of buses expected in 2019. Van Hool plans to deploy 30 buses with the Regionalverkehr Köln GmbH transit agency in Cologne, Germany, and the remaining 10 buses with WSW mobil GmbH transit agency in Wuppertal, Germany.

"This is the largest order ever for fuel cell buses in Europe and will be the first deployments under the JIVE I program," said Rob Campbell, Ballard Chief Commercial Officer. "Transit buses are an excellent example of a strong fit for fuel cell technology, which is able to meet the key requirements of long range, rapid refueling, heavy payload and full route flexibility. We are excited to see the growing interest in Europe for the use of our zero-emission power products."

Europe's JIVE funding programs are intended to pave the way to commercialization of fuel cell electric buses by coordinating procurement activities to unlock economies-of-scale and reduce costs as well as supporting new hydrogen refueling stations. The JIVE I program targets deployment of 139 fuel cell buses in 9 locations and the JIVE II program targets a further deployment of 152 buses in 14 locations – for a total of 291 fuel cell buses to be deployed in European cities.

Results of the JIVE programs are expected to demonstrate the technical readiness of fuel cell buses to bus operators and the economic viability of hydrogen as a zero-emission bus fuel to policy makers. These programs are supported by a total of €57 million in grants from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU).

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From: kidl8/29/2018 8:26:42 AM
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Ballard Signs Historic Strategic Collaboration With Weichai Power, Advancing China Strategy

Canada NewsWire

VANCOUVER and JINAN and WEIFANG, China, Aug. 29, 2018

  • Equity investment of approximately $163M from Weichai, at 15% premium; Weichai to be Ballard's largest shareholder
  • Deal includes $90M technology transfer, Joint Venture establishment, Weichai commitment for at least 2,000 fuel cell commercial vehicles
  • Broad-Ocean Motors to increase holdings to retain 9.9% ownership for additional proceeds of approximately $20M
VANCOUVER and JINAN and WEIFANG, China, Aug. 29, 2018 /CNW/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced at a public event in Jinan, Shandong Province, China that it has entered into a strategic collaboration with Weichai Power Co., Ltd. ("Weichai"; en.weichaipower.com, which includes (i) a substantial equity investment by Weichai in Ballard of approximately $163 million, representing a 19.9% interest in the company and reflecting a price based on a 15% premium to the 30-day VWAP, (ii) establishment of a joint venture ("JV") to support China's burgeoning Fuel Cell Electric Vehicle ("FCEV") market, (iii) a $90 million technology transfer program to the JV related to Ballard's next-generation LCS fuel cell stack and power modules for bus, commercial truck and forklift applications in China, and (iv) a commitment by Weichai to build and supply at least 2,000 fuel cell modules for commercial vehicles in China, as announced by Weichai today.

In addition, Zhongshan Broad-Ocean Motor Co., Ltd. ("Broad-Ocean"; www.broad-ocean.com/en/index.html) – a current Ballard strategic investor and Chinese partner – has agreed to invest a further approximately $20 million at the same 15% premium to maintain its 9.9% ownership position in Ballard. As a result, the Weichai and Broad-Ocean equity investments in Ballard will total approximately $183 million.

All the foregoing transactions are expected to close in Q4 2018, subject to completion of definitive agreements, regulatory approvals and other customary closing conditions.

Established in 2002 and with listings on the Hong Kong and Shenzhen stock exchanges, Weichai Power Co., Ltd. is a leading automotive and equipment manufacturer specializing in the production of powertrains, automobiles, intelligent logistics, automotive parts and components. In 2017 Weichai manufactured more than 617,000 engines, 149,000 heavy duty trucks and 200,000 forklift trucks, and generated total revenue of 151.57 billion RMB (approximately $22.7B), with an employee base of 74,474 people.

Subject to closing, the strategic collaboration announced today includes these key elements:

1)

Strategic Equity Investments – Weichai will purchase a sufficient number of Ballard shares so as to hold a 19.9% ownership position following the transaction (including completion of Broad-Ocean's share purchase), becoming Ballard's largest shareholder. This equity investment will generate approximately $163 million of gross proceeds to Ballard through the subscription and purchase of shares issued from treasury at a price per share of $3.54 based on a 15% premium to the 30-day VWAP (volume weighted average price) of $3.08.




Weichai's investment will be subject to 2-year "standstill" and resale restrictions (subject to customary exceptions). For so long as Weichai holds at least 15% of Ballard's outstanding shares, it will have the right to nominate two directors to Ballard's board of directors, and Ballard will expand its board from the current seven directors to nine directors after closing. Weichai has also agreed that, in the event of a third-party offer to buy Ballard, Weichai will have the right to make a superior proposal or otherwise must vote its shares in accordance with the Ballard board recommendation.




In addition, Broad-Ocean has agreed to purchase a sufficient number of Ballard shares so as to maintain its 9.9% ownership position (after completion of Weichai's purchase). This equity investment will be made at the same price per share as paid by Weichai and will generate approximately $20 million of gross proceeds to Ballard through the subscription and purchase of additional shares issued from treasury.




Proceeds are planned to be used for investment in Ballard's core fuel cell business and to support M&A transactions.



2)

Technology Transfer and China Joint Venture – Weichai and Ballard have agreed to form a joint venture company in Shandong Province, China, with Weichai and Ballard initially owning 51% and 49%, respectively. The JV will pay $90 million to Ballard under a technology transfer program for the exclusive rights to manufacture Ballard's next generation LCS fuel cell stack and certain LCS-based modules for the bus, commercial truck and forklift markets in China. The JV will exclusively purchase Membrane Electrode Assemblies (MEAs), a critical technology component of each fuel cell, from Ballard under a long-term supply agreement. Weichai and Ballard will fund pro rata shares of the JV based on a business plan that is currently under discussion. Weichai will hold three of five JV board seats and Ballard will hold two, with Ballard having certain shareholder protection provisions. Ballard will also retain an exclusive right to the transferred technologies outside China.




Broad-Ocean has also expressed an interest in acquiring a 10% ownership position in the JV, which would correspondingly reduce Ballard's ownership position. Discussions regarding this investment are currently underway between the parties.



3)

Fuel Cell Sales – Weichai separately announced today that it has agreed to supply a minimum of 2,000 fuel cell modules for commercial vehicles in China by 2021. This is the largest announced planned commercial fuel cell vehicle deployment in history globally. Specific terms related to the supply of fuel cell power modules for commercial vehicles, including scope, product mix, pricing and timing of shipments, are under discussion between Weichai and Ballard.




"Today marks an exciting and historic milestone on our roadmap to commercialize fuel cell vehicles, as we embark on a long-term collaboration with Weichai," said Randy MacEwen, Ballard President and CEO. "Ballard is thrilled to partner with Weichai, the world's largest manufacturer of diesel engines, with a corporate strategy to be China's leader in zero-emission fuel cell powertrains and FCEVs. Weichai brings considerable expertise in the traditional motive power business, including engine design, application engineering and powertrain integration, along with extensive customer relationships, deep knowledge of the China market, substantial operations scale, supply chain muscle and a solid balance sheet. Weichai together with its parent company is also well positioned with its portfolio of acquisitions and investments in leading bus, truck and material handling OEMs. In addition, Broad-Ocean's anticipated participation in this strategic collaboration, including its incremental investment in Ballard, is further validation of the exciting China market opportunities."

Mr. MacEwen continued, "As strategic partners and shareholders, Weichai and Broad-Ocean are strongly aligned with the interests of Ballard's shareholders. The new JV will offer a compelling framework through which our next-generation LCS fuel cell stack and power modules will be successfully integrated into buses, commercial trucks and forklifts for the China market. Weichai's announced plan to deploy a minimum of 2,000 fuel cell commercial vehicles in China by 2021 is the largest commitment of commercial FCEVs to date globally. We believe this strategic collaboration will create an unparalleled ability to effectively address the Heavy and Medium Duty Motive markets in China with the most technologically advanced and competitively positioned fuel cell products, as we drive down costs and approach commercial scaling."

Mr. Tan Xuguang, Chairman and CEO of Weichai stated, "The transition in China to zero-emission vehicles is underway, and we expect fuel cells to play an important role in a variety of motive applications. Weichai, through our joint venture with Ballard, intends to be the leader in development of the Fuel Cell Electric Vehicle supply chain, by offering the most advanced fuel cell stacks and modules. Ballard is the global leader in PEM fuel cell technology and power products, and we envision a strong collaboration with formidable capabilities to address the large market in China for zero-emission buses, commercial trucks and material handling equipment."

Mr. Charles Lu, Chairman of Broad-Ocean added, "Weichai's visionary entry into the fuel cell industry and significant investment in Ballard are strong indicators of the future market potential. We are thrilled to deepen our strategic collaboration with Ballard and Weichai. We also plan to be a strategic customer of the joint venture."

Ballard is in ongoing discussions with existing partners in China to ensure continued support for products using current generation technology, and to facilitate a smooth future transition to products based on next-generation technology.

BMO Capital Markets acted as financial advisor to the Company in connection with this transaction.

Conference Call
Ballard will host a conference call to discuss this transaction on Wednesday, August 29, 2018 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). Interested investors can access the live conference call 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 Earnings, Interviews & Presentations area of the Investors section of Ballard's website ( www.ballard.com/investors).

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From: kidl9/19/2018 11:33:50 AM
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Ballard Unveils Next Generation Zero-Emission Fuel Cell Stack for Heavy Duty Motive Market

PR Newswire

VANCOUVER and HANNOVER, Germany, Sept. 19, 2018

Raising the bar with high performance & reduced cost VANCOUVER and HANNOVER, Germany, Sept. 19, 2018 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today unveiled its next-generation high performance liquid-cooled fuel cell stack, the FCgen®-LCS, at the IAA Commercial Vehicles Trade Fair and Convention being held this week in Hannover, Germany.



The FCgen®-LCS features important design and performance enhancements, while also offering an impressive reduction in total-cost-of-ownership. This stack will be a core technology component of Ballard's 8th-generation power module portfolio for use in Heavy Duty Motive applications – including buses, commercial trucks and trains – planned for initial launch in 2019, and other applications such as forklifts.

Randy MacEwen, Ballard President and CEO said, "We are laser focused on strengthening the customer value proposition in Heavy Duty Motive. With the unveiling of the FCgen®-LCS, we are once again raising the bar in the industry. The FCgen®-LCS is expected to offer attractive customer value based on significantly reduced capital and operating costs, ultra-high durability, improved power density, impressive freeze start capability, enhanced efficiency, packaging flexibility, and high performance in a broad range of climatic conditions and duty cycles. With today's unveiling of the FCgen®-LCS stack and next year's planned launch of LCS-based power modules, Ballard will remain the market leader in zero-emission PEM fuel cell power solutions for the Heavy Duty Motive market."

Dr. Kevin Colbow, Ballard's Vice President – Technology and Product Development added, "The Ballard brand is synonymous with PEM fuel cell technology leadership. Our long-standing investment in PEM fuel cell research and product development, together with more than 8 million miles of on-road bus experience with customers across a variety of operating conditions, has resulted in this next generation, high performance PEM fuel cell stack."

Benefits of the FCgen®-LCS, compared to the current generation liquid-cooled fuel cell stack that it will replace, include:

Lower Cost – Expected 40% reduction in total-cost-of-ownership, achieved through various design and processing improvements, including: improved durability; lower catalyst loading; increased power density; improved unit cell performance; greater efficiency; and optimized high-volume MEA manufacturing processes. (The total-cost-of-ownership comparison is based on life cycle cost of a 50-kilowatt fuel cell stack operating for 50,000 hours with a single refurbishment.) Ultra-Long Durability – Planned operating lifetime of more than 30,000 hours – which exceeds the useful lifetime of many vehicles – made possible through improved MEA design and processing, as well as the use of reusable carbon bi-polar plates and molded compression hardware. High Power Density – 33% increase in power density, reducing physical stack size for a given amount of power, and thereby enabling tighter packaging into limited available space. Freeze Start Capability – Able to start in cold temperatures from -25oC (-13oF). Higher Tolerance to Operating Conditions – Higher performance attributes of the stack enable tolerance to a wider range of operating conditions, including: cold weather conditions and freeze start capabilities; operation at temperatures of up to 85oC (185oF), thereby reducing cooling requirements; and compatibility with high- and low-pressure operating conditions. Simplified Systems Integration – Several important features simplify systems integration requirements, including: compact design; flexible packaging from 20-to-220 cells; ports located at both ends of the stack provide easier access for fluids as well as the ability to mount the stack in several different orientations; and expanded vehicle integration flexibility for both air and cooling systems, enabled by the stack's expanded range of operating pressure, humidity and temperature. Sustainability – FCgen®-LCS features key sustainability design characteristics, including: higher efficiency; the use of reusable low-cost carbon plates and compression hardware; and the ability to recover catalyst material from MEAs. Ballard will be showcasing the FCgen®-LCS product in Hannover, Germany at the IAA Commercial Vehicles Trade Fair and Convention, September 19th-27th in Hall P11EG, booth 401-02. Further details, including contact information, can be found on the Company's website – www.ballard.com.

Ballard will continue to support the Company's existing customers where current generation FCvelocity®-9SSL fuel cell stack technology is used.

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From: kidl9/21/2018 10:53:22 AM
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Liebreich: Planes, Trains and Automobiles – the Electric Remake

Snip:

But, but, hydrogen!

At this point, I am sure any die-hard fans of hydrogen must be practically jumping out of their chairs. Because, yes, if you are talking about hybrid aviation options, hydrogen is one of the potential fuels that you could use. And, yes, you could use a fuel cell to convert it to electricity to replenish the on-board battery, though a turbine could work perfectly well too. While I continue to be scathing about the benefits of hydrogen for short-distance transport – anything under, say, 250 miles, whether by road, rail or air – longer-distances are where hydrogen might have a chance (as might biofuels).

Long-distance rail travel is another sector balanced between the benefits of electrification and hydrogen. With electrification of railway tracks costing as much as $2.5 million per mile, connecting up long-distance routes becomes prohibitively expensive. Hydrogen offers a potential way of reducing CO2 emissions and air pollution. In November 2017, Alstom signed a deal with the transport authority of Lower Saxony for 14 iLint hydrogen fuel cell trains, along with 30 years of maintenance and fuel, and the first train was certified for passenger use by the German Federal Railway Authority this summer.

However, hydrogen is not the only option (leaving aside the fact that if the hydrogen is generated from methane you might as well run the train on compressed natural gas, or CNG, as is occasionally done in India). Another way to eliminate emissions without electrifying the whole track would be for the train to carry a battery and recharge periodically en route, as proposed by Bombardier, U.K.-based start-up Vivarail and others. This might well end up cheaper and simpler than the hydrogen option, particularly for short and middle-distance routes.

For long-distance trucking, the electric rapid-charge concept is facing real competition from hydrogen. Feisty start-up Nikola is promoting a 1,000-mile hydrogen truck, for which it has 800 pre-orders from Anheuser-Busch. Call me skeptical until they have proven they can build vehicles, but most major truck manufacturers are also developing hydrogen concept trucks.

More:

about.bnef.com


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From: Chartgod5/22/2019 3:31:41 PM
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Hello? anyone home? 4.35/4.40 resistence?


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To: Chartgod who wrote (5751)5/22/2019 4:46:21 PM
From: Woody
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BLDP, according to my weekly it should test the 4.70 area before taking a rest. A close above 4.70 this week could set up a test of that old high at 5.93 .. fwiw. Oh and today is day 2 of the 3 day RSI > 95 .. fwiw.
Woody

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