Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) held an Investor and Analyst Day on October 1st in New York City, hosting numerous investors and research analysts in person and online through a webcast. Key executives and external keynote speakers delivered informative presentations underscoring Ballard’s position to capitalize on the large scale potential of commercial fuel cell applications.
Prior to this event, Ballard announced important commercial transactions that were discussed during the course of the Investor and Analyst Day.
- Fuel Cell Buses in China – Sept. 25: A long-term license and supply agreement with an existing partner in China to provide fuel cell Power Products and Technology Solutions in support of the planned deployment of approximately 300 fuel cell-powered buses in the cities of Foshan and Yunfu. The transaction has an estimated initial value of $17 million through 2016, with the opportunity for significant recurring royalties starting in 2017.
- Fuel Cell Trams in China – Sept. 28: A joint development agreement and a supply agreement to develop and commercialize a fuel cell engine specifically designed for integration into low floor trams manufactured by a major Chinese rolling stock manufacturer. The agreements include 2016 delivery of 10 customized power modules and have an initial value expected to be approximately $6 million.
- Telecom Backup Power Modules in India – Sept. 30: A purchase order was received from Aditya Birla Group for 50 ElectraGenTM-H2 direct hydrogen modules that will be deployed in the Idea Cellular telecom network in India.
- Close of Protonex Acquisition – Oct. 1: Ballard’s acquisition of Protonex Technology Corporation (www.protonex.com) successfully closed.
A summary of the Investor and Analyst Day presentations follows. A replay of the webcast, along with all presentation material, is available at the Company’s website – www.ballard.com/investors.
About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs.