VANCOUVER, BC, CANADA and SOUTHBOROUGH, MA, USA, Jan. 19, 2017 /PRNewswire/ - Ballard Power
Systems (NASDAQ: BLDP; TSX: BLDP) today announced that the
company's subsidiary, Protonex, has received certification from the
U.S. Government enabling its industry-leading SPM-622 (Squad Power
Manager) and VPM-402 (Vest Power Manager) products to be exported
under the Commerce Department's Export Administration Regulations,
classification EAR99. With this classification, these products can
be sold to allied military partners as well as commercial customers
without the need for an export license.
Protonex Power Manager products enable military personnel,
including Soldiers, Airmen and Marines, along with commercial users
such as mountain climbers and other extreme sports enthusiasts to
recharge GPS systems, laptops, night-vision goggles and virtually
any other portable equipment from any military or civilian energy
source. The Squad Power Manager is typically shared by 5-to-10
individuals while the Vest Power Manager is designed to be worn by
a single individual.
Approximately 5,000 Power Manager units have been deployed by
U.S. Special Operations Forces and dismounted infantry, with each
unit significantly reducing the battery weight required in the
field, while at the same time enhancing mission flexibility and
capability.
The U.S. Department of Commerce EAR99 designation permits
simplified and faster fulfillment of international purchase orders
rather than the alternative Department of State regulations, known
as ITAR (International Trafficking in Arms Regulations). As a
result, the EAR99 designation is expected to increase the
attractiveness of Protonex Power Manager products to prospective
customers outside the U.S. in both military and commercial
applications.
"We have achieved an important commercialization milestone for
our SPM and VPM products," said Ray
Summers, Protonex Director of Military Sales. "Special
Operations Forces across Europe,
for example, have seen the SPM and VPM in action with their
American counterparts. We expect this development to increase our
traction by opening select commercial market opportunities with the
international military community."
Protonex Power Manager products are available from the Protonex
website at www.protonex.com/shop-home and through U.S. Government
procurement channels, including the General Services
Administration.
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 product performance, customer benefits and market
demand for 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.