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Ballard Power Systems Inc
Symbol BLDP
Shares Issued 297,561,659
Close 2021-06-24 C$ 22.07
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Ballard Power plans to rebrand; will keep same name

2021-06-24 17:36 ET - News Release

Mr. Randy MacEwen reports

BALLARD ANNOUNCES REBRANDING AS INDUSTRY ENTERS NEXT PHASE OF DEVELOPMENT

Ballard Power Systems Inc. is planning a rebrand to reflect the next phase of the company's journey as a global provider of zero-emission fuel-cell technology. The hydrogen and fuel-cell industry has reached an important inflection point with scaled commercialization expected over the next decade. With a leading position in the fuel-cell industry, Ballard is forecasting significant growth and development through 2030.

"Since the company's founding in 1979, Ballard has been dedicated to zero-emission energy," said Randy MacEwen, president and chief executive officer. "And, now the global transition to clean energy is clearly under way. With over 30 countries having announced hydrogen strategies, there is a strong commitment globally that hydrogen will play a critical role in the decarbonization of energy, mobility and industry. We are particularly excited with the expected volume adoption of hydrogen fuel cells to decarbonize hard-to-abate mobility sectors, including bus, truck, train and marine applications. As we enter a new era with a growing opportunity set and investment, it is timely for a brand refresh."

The rebranding includes a redesign of the company's logo, tag line, website and communication tools. Ballard's new logo is familiar but refreshed. The sense of forward motion reflects the company's ability to advance and innovate while holding to the values that brought it to where it is today. The new tag line, here for life, has multiple dimensions. To society and all the company's stakeholders, here for life reflects the company's vision to deliver fuel-cell power for a sustainable planet. It connotes Ballard's purpose to decarbonize mobility to mitigate the existential threat of climate change and pass on to the next generation a more livable planet. To customers, here for life also means that the company supports you through your entire customer journey with Ballard. The company has your back and it stands behind its products and service. And it is designing products and services to address the total life cycle of your fuel-cell vehicles. For employees, here for life also forms part of the company's employee value proposition as Ballard seeks to improve the life of each employee with a challenging, rewarding and flexible career, and a respect for diversity.

Nicolas Pocard, vice-president, marketing and strategic partnerships, added: "With this rebranding launch, we are bringing a fresh look to who we are and everything we believe in and do. At Ballard, we deliver field-proven fuel-cell technology, and we do it with a focus on our customers. Our customers can rely on us as a trusted, knowledgeable partner with decades of innovation, expertise and experience in implementing fuel-cell solutions. We are focused on innovative and valuable fuel-cell technologies with products designed to last and offer a low total life cycle cost with zero emissions. Ballard is here for life."

Ballard PEM fuel-cell technology provides zero-emission power to commercial vehicles that have travelled an industry-leading total of more than 88 million kilometres in more than 20 countries. This includes more than 3,500 fuel-cell electric buses and commercial trucks currently in operation.

About Ballard Power Systems Inc.

Ballard Power's vision is to deliver fuel-cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, passenger cars and forklift trucks.

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