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Earnings call transcript - 3/1/18

Ballard Signs Service Contract Extension With Daimler For Hamburg Fuel Cell Buses

7/28/08- VANCOUVER, BRITISH COLUMBIA (NASDAQ: BLDP) today announced that it has signed a two-year service agreement with Daimler AG, under which Ballard will continue providing a full service support package for fuel cell systems on six Mercedes-Benz Citaro buses. This is the third service contract awarded to Ballard for these buses, which are currently used in revenue producing service in the city of Hamburg, Germany.

 "The Hamburg Citaro bus service contract is a significant milestone for our work in the fuel cell bus arena," said John Sheridan, Ballard's President and CEO. "These Hamburg vehicles are the largest fleet of fuel cell buses in operation anywhere today, and 2010 will be the fleet's eighth year of operation - the longest of any fuel cell bus fleet to date. This is positive evidence of the reliability of our fuel cell bus products."

The Hamburg buses are powered by Ballard-designed P5 fuel cell engines. Two of Ballard's Mark902 HD fuel cell modules, with a total power output of 300 kW's, are installed on the roof of each bus together with other equipment needed to manage the entire fuel cell system. Ballard will provide a number of services in support of all fuel cell components, including: repair and logistics; provision of spare parts, as needed; plus remote and on-site technical services. Each bus is also equipped with a hydrogen fuel storage tank and the city of Hamburg maintains a central fueling facility for the fleet.

Fuel cell buses offer a number of advantages over diesel buses, including: zero tail pipe emissions; significant reduction in greenhouse gas emissions on a well-to-wheels basis; reduced future operating cost; high level of reliability; noise reduction; and improved performance.

Ballard fuel cell modules have provided power for buses in revenue service across 15 cities in 12 countries around the world. These buses have traveled over 2.0 million kilometers (1.2 million miles) and have carried in excess of 7 million passengers. The company is currently developing a next-generation fuel cell bus module, called HD6, which will be supplied for the BC Transit 2010 Olympic Bus Program and the London Bus Program.

Hamburg is a fuel cell demonstration centre under the German government's National Innovation Programme (NIP). Goals of the NIP are to generate environmental benefits through reduced (or zero) emissions, increase energy supply through the use of various sources of hydrogen and achieve economic growth by means of innovative and sustainable technologies.

Ballard Power Systems and ACME Group Sign Multi-Year Fuel Cell Supply Agreement for Wireless Telecom Backup Power Solution
May 8, 2008

VANCOUVER, BRITISH COLUMBIA (NASDAQ: BLDP), a world leader in clean energy fuel cell products, today announced that it has signed a multi-year supply agreement with an affiliate of the ACME Group (ACME), a leading provider of telecommunications infrastructure solutions in India, to provide fuel cells for backup power in the wireless telecom market.

The supply agreement imposes mutual exclusivity on both companies for the India wireless telecom backup power market through 2010, subject to certain conditions. Although the agreement does not specify minimum volumes, in order to maintain its right to exclusivity, ACME must order at least 22.7 megawatts (MW) of fuel cell products through 2010, specifically 0.1 MW, 3.3 MW and 19.3 MW in 2008, 2009 and 2010, respectively. Ballard will supply the company's existing Mark1020(TM) ACS fuel cell product as well as a new liquid-cooled reformate-capable fuel cell product currently in development, in sizes ranging from the sub-kilowatt level to 7 kilowatts. ACME will begin systems design work immediately to integrate Ballard's fuel cell products for trials beginning in early 2009, with initial deployments planned later that year.

John Sheridan, President and CEO of Ballard, said, "The need for extended runtime capability throughout wireless networks in India is acute, given the unreliable electricity grid in that country combined with the tremendous growth rate in telecom services. This agreement with ACME, a highly capable and knowledgeable partner with a leading share of the India telecom infrastructure solutions market, positions Ballard with a strong lead customer. The agreement will help accelerate fuel cell product adoption."

Fuel cell-powered systems offer more reliable and cleaner backup power alternatives than incumbent technologies. This is valuable in India where many towns and cities experience an average of four to six hours of daily power outages. While Ballard's Mark1020 ACS fuel cell product is commercially available today, an additional liquid-cooled fuel cell product capable of operating with reformed fuel will maximize the size of the addressable market.

"Fuel cell backup power systems offer an excellent value proposition to telecom service providers," said Manoj Upadhyay, CEO of the ACME Group. "The quality of Ballard's fuel cell products gives us a strong foundation on which to build a leading fuel cell market position over the next few years."

The ACME Group is a leader in the field of innovative solutions for the wireless telecom industry, cold chain management systems, alternate energy and waste water treatment. To learn more about the Acme Group, visit

Raymond Corp and Ballard Power Sign Joint Development Agreement for Fuel Cell Lift Truck Research and Development
April 21, 2008 - 12:00 PM EDT

The Raymond Corporation, a leading North American manufacturer of materials handling solutions, has signed a joint development agreement with Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP), a world leader in zero-emission hydrogen fuel cells, to commence research on lift truck designs, with the goal of developing a prototype using the next-generation of Ballard's Mark9 SSL(TM) fuel cell product technology to power Raymond® lift trucks.

"Raymond is committed to demonstrating the advantages that hydrogen fuel cells can offer the materials handling industry," says James Malvaso, president and CEO for The Raymond Corporation. "This partnership will further enhance our research into fuel cell-powered lift trucks and help uncover additional value related to the merging of these technologies."

The Raymond Corporation began a three-year research program of hydrogen fuel cells in January 2007 by using Raymond's Greene manufacturing facility as a "living lab". The research includes using hydrogen fuel cell-powered Raymond® lift trucks in real applications including an indoor, fast-fill hydrogen refueling system.

Advantages of a fuel cell solution over batteries have been shown to include: increased uptime; consistent power; longer runtime; and elimination of battery storage. These advantages create tangible economic and operational benefits. In addition, fuel cells are a clean technology, producing zero emissions while removing the need to handle and dispose of lead acid batteries.

"We are pleased to partner with an important materials handling equipment manufacturer of Raymond's caliber," says John Sheridan, president and CEO of Ballard. "Raymond has a deep understanding of end-user needs, and we believe that a successful prototype could represent the first important step toward purpose-built fuel cell lift trucks."

Ballard and Heliocentris Sign Supply Agreement for Mark1020 ACS(TM) Fuel Cell Products
April 18, 2008 - 3:05 AM EDT

Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) today announced it has signed a supply agreement with German systems integrator Heliocentris Fuel Cells AG, under which Ballard will supply Mark1020 ACS(TM) air-cooled fuel cell products for integration by Heliocentris into demonstration and teaching systems for sale to educational institutions as well as for specialized commercial and industrial use.
William Foulds, Ballard's Vice President of Sales, stated, "Heliocentris' capability and experience in systems integration combined with their significant exposure to the post-secondary education market will help ensure a high-profile and successful presence for Ballard among the next generation of highly capable scientists and engineers."

Heliocentris will display its first prototype system incorporating the Mark1020 ACS(TM) fuel cell product at the 2008 Hannover Messe event. Fuel cell systems will be available from Heliocentris for purchase beginning fourth quarter of 2008. Heliocentris foresees the system being applicable for educational institutions as well as industrial niche applications. The three-year supply agreement is expected to generate a minimum of 350 Mark1020 ACS(TM) fuel cell units shipped to Heliocentris over the term of the agreement.

"Ballard's technology has proven itself in terms of performance, reliability and ease of integration," said Dr. Henrik Colell, Chief Executive Officer of Heliocentris. "The Mark1020 ACS(TM) is the best choice for our next generation system platforms that will feature flexible integration into various applications and a wide operating temperature range."
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#3010  Sticky Note Ballard Fuel Cell Module to Power Hybrid UPS Diogenes of Sinope 03/20/18 09:30:21 AM
#2980  Sticky Note Earnings call transcript 3/1/18 XenaLives 03/02/18 07:41:32 AM
#3011   This was a nice change of pace. Closing icecreamman 03/20/18 06:02:29 PM
#3010   Ballard Fuel Cell Module to Power Hybrid UPS Diogenes of Sinope 03/20/18 09:30:21 AM
#3008   Audi Go to Produktion. lecker454 03/19/18 09:20:11 AM
#3007   BallardPower Fuelcells for Buses in Cologne & Wuppertal HeartOfGold 03/14/18 09:20:04 AM
#3006 Flanker100 03/14/18 06:59:27 AM
#3005 Flanker100 03/14/18 06:51:58 AM
#3003   Double Jackie, you might want to take your Shaft U2 03/09/18 02:12:06 PM
#3002   Ok send the dismissal then. DoubleJackie 03/08/18 03:16:35 PM
#3001   Worst case there will be one class action XenaLives 03/08/18 02:45:04 PM
#3000   Question for you briar. Do you think DoubleJackie 03/08/18 12:39:49 PM
#2999   How about short volume isn't that the same DoubleJackie 03/08/18 11:55:41 AM
#2998   Short Volume & Short Percent isn't the same briarhopper1 03/07/18 05:50:02 PM
#2997   Bad news. I just noticed they're is DoubleJackie 03/07/18 03:04:53 PM
#2996   Agreed massive manipulation going on here. This is DoubleJackie 03/07/18 01:14:55 PM
#2994   Exactly what number are you referring to as XenaLives 03/06/18 11:10:07 PM
#2993   Many investment firms are listing Ballard as a bagwa-john 03/06/18 10:00:19 PM
#2992   Short % is killing this right now. DoubleJackie 03/06/18 04:48:27 PM
#2991   I believe the article was sponsored by the XenaLives 03/02/18 11:31:21 AM
#2990   “We believe the ramp and demand pull through lecker454 03/02/18 11:23:52 AM
#2989   Does "Sponsored Content " mean the same as..."Paid Pump"? Jack_Bolander 03/02/18 11:08:19 AM
#2988   Honestly with the irrational duties our president is XenaLives 03/02/18 10:57:59 AM
#2987   Buses, Trains and Automobiles: The Hydrogen Economy Is lecker454 03/02/18 10:57:50 AM
#2986 lecker454 03/02/18 10:55:43 AM
#2985 lecker454 03/02/18 10:44:57 AM
#2984   In two years, say such days have been lecker454 03/02/18 10:39:06 AM
#2983   Great - XenaLives 03/02/18 10:08:39 AM
#2982   02 März, 2018 lecker454 03/02/18 10:03:26 AM
#2981   Very impressive - I thought NASDAQ's institutional interest XenaLives 03/02/18 08:27:46 AM
#2980   Earnings call transcript 3/1/18 XenaLives 03/02/18 07:41:32 AM
#2979   Here's the link for his remarks: briarhopper1 03/02/18 01:35:47 AM
#2978   Mercedes-Benz is launching lecker454 03/02/18 01:35:25 AM
#2977   Before we discuss our 2017 progress in detail lecker454 03/02/18 01:28:17 AM
#2976   bagwa-john - MMs are definitely in cahoots with briarhopper1 03/02/18 12:05:08 AM
#2975   Go read Randy's after market question and answers briarhopper1 03/01/18 11:45:12 PM
#2974   What is the value of 40 bus order? uksausage 03/01/18 10:41:45 PM
#2973   Redundant about the 40 busses. Why didn't that bagwa-john 03/01/18 10:09:08 PM
#2972   Here's my take. They said they would thats_my_wave_dude 03/01/18 07:55:12 PM
#2971   Sure I'll take $50 CDN for $39 US. DoubleJackie 03/01/18 03:39:48 PM
#2970   $50.. Canadian??? Great exchange rate. Jack_Bolander 03/01/18 03:31:34 PM
#2969   I trade on CDN exchange. BLDP. Like your DoubleJackie 03/01/18 12:25:21 PM
#2968   I'm thinking this will whipsaw soon. XenaLives 03/01/18 12:22:29 PM
#2967   Yes short term thinking is an issue but lecker454 03/01/18 12:20:56 PM
#2966   Best of luck to all of you....come talk lecker454 03/01/18 12:17:12 PM
#2965   stupidness of the short term crowds is alive lecker454 03/01/18 12:16:08 PM
#2964   Good time to grab more! DoubleJackie 03/01/18 11:45:06 AM
#2963   Ya I'm scratching my head here to. Very DoubleJackie 03/01/18 11:42:51 AM
#2962   I agree, cannot understand why they are down. uksausage 03/01/18 11:24:25 AM
#2960   Jesus christ this is ridiculous DoubleJackie 03/01/18 10:15:03 AM
#2959   Great earnings. I know people sell on news DoubleJackie 03/01/18 10:01:48 AM
#2958   Ballard Reports Record Q4 and Full Year 2017 Results DoubleJackie 03/01/18 09:59:09 AM