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Last updated on April 21, 2014 at 1:20 EDT

Ballard Signs LOI To Power 25 Clean Energy Hydrogen Fuel Cell Buses in Sao Paulo, Brazil

December 27, 2011

VANCOUVER, Dec. 27, 2011 /PRNewswire/ – Ballard Power Systems has signed a
Letter of Intent (LOI) with The City of Sao Paulo, Brazil for 25 FCvelocity(TM)-HD6 fuel cell modules to power 25 buses in that city. Delivery of the
modules is planned for 2012. A final agreement with The City of Sao
Paulo is now in negotiation.

Silvano Pozzi, Ballard’s Director – Brazil Market Development said, “We
are very pleased with The City of Sao Paulo’s intention to deploy an
initial fleet of 25 clean energy buses.”

John Sheridan, the Company’s President and CEO added, “In combination
with our recently announced supply agreement for 21 modules to power
buses in Europe, this points to significant progress toward
commercialization of zero-emission fuel cell buses in 2012.”

Brazil’s National Plan on Climate Change is a set of inter-ministerial
programs designed to cut emissions in the transportation, forestry,
industrial and energy sectors. Under the plan the Brazilian government
has committed to significant use of zero-emission transit technology.
Initiatives will be implemented during the lead-up to the 2014 World
Cup and 2016 Summer Olympic Games being held in that country, and
beyond.

Sao Paulo is Brazil’s largest city, generating significant emissions of
particulate matter together with 3 million tons of greenhouse gases
annually, 85% of which are created by vehicles. As a result, clean
energy transportation is a high priority for the city, which has
established a goal of reducing fossil fuel use within the bus fleet by
at least 10% annually over the next several years.

Ballard’s sixth generation FCvelocity(TM)-HD6 fuel cell module features a control unit which interfaces with a
system controller to make it a “plug-and-play” product for any fuel
cell or hybrid fuel cell bus platform. The module also offers
significant advances in durability, power density and fuel efficiency
compared to earlier generation products.

About Ballard Power Systems
Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy
fuel cell products enabling optimized power systems for a range of
applications. Products are based on proprietary esencia(TM) technology, ensuring incomparable performance, durability and
versatility. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated
government funding, customer commitments and product shipments.  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.

Further Information
Public Relations: Guy McAree, +1.604.412.7919, media@ballard.com
Investor Relations: Lori Rozali, +1.604.412.3195, investors@ballard.com

SOURCE Ballard Power Systems Inc.


Source: PR Newswire