Ballard Power Systems Inc (BLDP)

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Before we discuss our 2017 progress in detail along with our outlook, I want to briefly address the short seller report released on January 25th. We remained steadfast in our belief that Ballard is uniquely positioned to capitalize on the global trend towards zero emission transportation and unique value proposition offered by fuel cell electric vehicles or FCEVs.

Nothing we have seen in the short seller report fundamentally changes are positive outlook for this business. Let me repeat that nothing. We want to be very clear we do not agree with many of the short seller report assertions some of which are demonstrably false nor do we agree with many opinions expressed in the short seller report.

More importantly, we will not be distracted instead we’ll continue to focus on building a great company. We intend to continue demonstrating the strength of our strategy, our people, our partners and our business. Let our results speak for themselves as they clearly did in 2017 and as I expect they will in 2018. So let’s drive on.

We made important progress against our strategy in 2017. We continued advance our world leading technology and products. We made solid progress in the localization of Ballard designed stacks and modules in China and we strengthened our engagement with important customers in key market and continue to expand the range of FCEV applications.