VANCOUVER, April 28, 2017 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a
follow-on Technology Solutions contract with an unnamed leading
global automotive OEM, further to the contract extension signed and
announced on July 20, 2016. Under the
new contract extension, Ballard will continue to provide expertise
in proton exchange membrane (PEM) fuel cell technology to advance
the customer's membrane electrode assembly (MEA) development
program related to future versions of its engine for fuel cell
vehicles.
"We continue to see increased levels of fuel cell activity from
major OEMs throughout the global automotive industry," said
Randy MacEwen, Ballard's President
and Chief Executive Officer. "At Ballard, we are uniquely
positioned to offer these companies bundled Technology Solutions
with access to our leading intellectual capital and intellectual
property focused on PEM fuel cell technology. These opportunities
provide high value to our customers and long-term embedded
optionality for Ballard shareholders."
Dr. Kevin Colbow, Ballard's Vice
President, Technology and Product Development added, "This latest
follow-on contract reflects our customer's satisfaction with the
measured progress we have made during the 2014-16 period to provide
compelling solutions for challenging technical issues. This next
phase of our collaboration with this partner sets a clear roadmap
for Ballard technology being integrated into future generations of
their fuel cell vehicle platforms."
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
market demand for our products and services. 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.