Market Updates

First Ballard-Powered Fuel Cell Bus Deployed in City of Yunfu, China

October 23, 2015

VANCOUVER, CANADA and YUNFU, CHINA – In June 2015 Ballard announced that we had signed definitive license and supply agreements with each of Nantong Zehe New Energy Technology Co., Ltd. (“Zehe”) and Guangdong Synergy Hydrogen Power Technology Co., Ltd. (“Synergy”) to provide fuel cell Power Products and Technology Solutions to support the planned deployment of an initial 33 fuel cell-powered buses in two Chinese cities. The deal has an estimated value of $10 million, the majority of which is expected to be recognized in 2015.

Ballard and Synergy have collaborated with electric bus manufacturer Foshan Feichi Automobile Manufacturing Co. Ltd. in the Cities of Foshan and Yunfu in Guangdong province. The municipal governments in the cities of Foshan and Yunfu plan to have the entire fuel cell bus fleet operating in revenue service in 2016.

The first of these buses was debuted at the opening ceremony of a government exhibition in the City of Yunfu on October 18th. Ballard CEO Randy MacEwen attended the opening ceremony, along with Chinese dignitaries that included Mr. Xu Guo, Vice Mayor of the City of Foshan and Yunfu, Mr. Ma Dongsheng Frank, CEO of Synergy and Mr.  Chen Xiaomin, General Manager of Foshan Feichi Automobile Manufacturing Company.

Mr. MacEwen said, “It is very exciting to see the first bus in this program being commissioned for the City of Foshan and to also see the tremendous enthusiasm among officials as well as the media and general public here in China. Ballard is delighted to be part of this important program to help in addressing China’s critical mass transportation needs with clean energy solution.”

Ballard’s FCvelocity®-HD7 90-kilowatt fuel cell power module, which is being used in the buses under this program, was launched in June 2015 and represents the Company’s seventh generation of bus power module. This is a zero-emission fuel cell product delivering outstanding performance and cost-effectiveness.

About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) 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.