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Ballard Power Systems Inc
Symbol	BLD
Shares Issued	132,059,075
Close 2014-10-14	C$ 3.10
Market Cap	C$ 409,383,133
Recent Sedar Documents

Ballard to provide Latvian bus operator with FCvelocity

2014-10-15 19:45 ET - News Release

Grant Subject: Ballard Signs MOU with Rigas Satiksme and Skoda Electric For CleanTrolley Bus Program VANCOUVER, CANADA - Today Ballard announced the signing of a non-binding Memorandum of Understanding (MOU) with Rigas Satiksme, a Latvian transit bus operator, and Škoda Electric (Škoda), a leading Czech Republic bus and tram manufacturer, in relation to a hydrogen fuel cell-powered trolley bus development and deployment program called "Hy-Trolley", for the city of Riga, Latvia. Rigas Satiksme provides public transportation services throughout Riga, the capital of Latvia, including operation of more than 250 trolley buses, 116 trams and 415 diesel buses. Growth in the city has made expansion of the catenary network that supports the trolley bus fleet impractical. As a result, some trolley buses operate with diesel generators for a portion of their route, adversely affecting air quality. Replacement of diesel generators with clean energy power modules supplied by Ballard will eliminate emissions from the trolley buses. "We are concerned about air quality in Riga and are searching for ways to improve it," said Leons Bemhens, CEO of Rigas Satiksme. "We are confident that this proposal with Skoda and Ballard can be an important part of the solution." Under the Hy-Trolley program, Škoda and Ballard will undertake a feasibility study and product evaluation, followed by potential replacement of up to 27 diesel generators on existing trolley buses with Ballard's next-generation FCvelocity®-HD7 fuel cell power module in the 2016 timeframe. The Ballard module features reduced parts count - including fewer moving parts - integrated air compressor and coolant pump along with reduced parasitic load. Ladislav Sobotka, CTO and Board Member of Škoda said, "Škoda is very happy to be working with Ballard on this exciting opportunity to provide a zero-emission solution for an important customer." Škoda is focused on manufacturing vehicles for public transportation and railways and has a long history of developing and manufacturing low-floor trams, trolley buses and hybrid vehicles for ecological public transport in European cities. Larry Stapleton, Ballard Vice President of Global Sales added, "Ballard has extensive experience with heavy-duty fuel cell modules. We are excited to have this opportunity to work on the Hy-Trolley program with Rigas and Škoda for delivery of clean transportation in Riga using our leading-edge product solution." About Ballard Power Systems Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products deliver incomparable performance, durability and versatility. To learn more about Ballard, please visit www.ballard.com. This Market Update contains forward-looking statements concerning anticipated supply relationships, market demand and growth. 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 Market Update 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. Find out more at www.ballard.com Follow us on social media at http://www.ballard.com/about-ballard/newsroom/social-media.aspx To unsubscribe from this distribution, please use the URL below: http://ir-messaging.thomsonone.com/MessagingWeb/Unsubscribe.aspx?ContId=92368179&CompId=76046&Confirm=60c1bffd36caf07a2324c16f34442ce5 ----- File: 06_Skoda MU.pdf allard Signs Ba S M MOU with w gas Sat Rig tiksme and koda Electric For Sk ean Tro F Cle us Prog olley Bu gram VANCOUVE V ER, CANAD DA � Today nnounced y Ballard an the signing t n g of a non-binding g Memoran ndum of Understanding (MOU) with U w Rigas Satiksme, a Latvian transit bus operator, and t a Skoda), a Skoda Electric (S leading Czec ch Republic bus and tra am manufacturer, in relation to a hydrogen r n fuel cell-p olley bus powered tro development and dep d ployment program cal lled "Hy- Trolley", for the city of Riga, Latvia T a. Rigas Satiks R sme provide ansportation es public tra n services throughout Riga, the capital of t o Latvia, including operation of o f more thann 250 trolleey buses, 116 trams Baallard's nextgeneration and 415 die a esel buses. Growth in h n the city has made � expansion of e o the caten nary networ rk that supports the FC velocity v HD77 bus module trolley bus fleet t f ctical. As a result, som imprac me trolley buses opera b esel generat ate with die tors for a portion p heir route, adversely a of th r quality. affecting air Replacement of diesel generators R an energy power mod s with clea dules suppl lied by Balllard will eliminate em e m the trolley buses. missions from "We are con " ncerned abo out air quality in Riga and a ways to imp are sea rching for w aid Leons prove it," sa Bemhens, CEO B C s Satiksme. "We are co of Rigas t this propo onfident that osal with Skoda and Ballard can be an impor b f the solution." rtant part of Under the Hy-Trolley U H p program, Sk koda and Ballard B undertake a feasibility will u y study and product evaluation, followed by e nt of up to 27 diesel generators on existing trolley y potential replacemen buses with Ballard's next-genera b ation FCvellocity�-HD7 7 fuel cell power mo he 2016 odule in th timeframe. The Ballard t d module feeatures reduced parts count � in ncluding few wer moving parts � sor and coolant pump along integrated air compress a educed para with re asitic load. Ladislav Sob L botka, CTO and Board Member of Skoda said, , "Skoda is very happy king with y to be work Ballard on th B y to provide a zero-emis his exciting opportunity on for an im ssion solutio stomer." mportant cus Skoda is foc S cused on manufacturing vehicles for f public tr on and railw ransportatio as a long ways and ha history of developing h d a and manufaacturing low ms, trolley buses and hybrid veh w-floor tram hicles for ecological pu e pean cities. ublic transport in Europ Larry Staple L eton, Ballard sident of Glo d Vice Pres obal Sales added, "Ballard has ex xperience xtensive ex with heavy- w c -duty fuel cell moduless. We are excited e have this op to h pportunity tto work on the Hy- Trolley program with Rigas and Sko T very of clea n transportation in Riga using our leading- oda for deliv edge produc e ct solution." About Balla A ard Power Systems Ballard Pow B wer Systems s (NASDAQ Q: BLDP)(TS SX: BLD) pprovides cleean energy fuel cell p products enabling op e ptimized pow wer systemms for a range of app Products de plications. P mparable eliver incom performance p rn more abo e, durability and versatility. To lear t www.ballard.com. out Ballard, please visit Contact: med C dia@ballard.com Page 1 of 2 ard.com www.balla B d Signs MOU with Ballard w igas Sa Ri e and atiksme S Skoda E Electric c For Cl lean Tr Bus Pro rolley B ogram This Market Update T U contains forward-llooking statements conce pated supply relationships erning anticip s, market demand and growth. d g Thesse forward-looking statemments reflect B Ballard's curr rent expectattions as conteemplated under section u S n 27A of the Securities Act t of 1933, as s amended, a and Section 221E of the Se hange Act ecurities Exch of 1934, as amended. Any o y such forwarrd-looking sta atements aree based on Ba mptions relat allard's assum ting to its financial forec f xpectations re casts and ex egarding its product deve elopment effoorts, manufa acturing capaacity, and market demand. m These statem T ments involvee risks and uncertainties u that may ca ause Ballard's actual res sults to be m materially different, inc d cluding geneeral economic and regu ulatory chan ges, detrimental relianc ce on third parties, successfully achieving s a our r business pla ans and achieeving and su ustaining proffitability. For a detailed discussion of these and other risk fa o ould affect Ballard's futur actors that co re performannce, please re rd's most efer to Ballar recent Annua r on Form. Re al Informatio eaders should d not place undue reliance on Balla ard's forwardd-looking statements and Ballard assumes no obligation s o to update or re elease any rrevisions to t these forward d looking statements, other s o der applicable than as required und e legislation. This Market Update T U does not constitute an offer to sell or thee solicitation of an offer tto buy securiities. The Ballard Comm B mon Shares have not been b registerred under thhe United St tates Securitties Act of 11933, as amended, or the securities laws of any a diction and m y other jurisd may not be of d in the Unite ffered or sold ed States absent registr a a ration or an applicable exe emption from n requirement m registration ts. Contact: me C d.com edia@ballard Page 2 of 2 ard.com www.balla