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Last updated on April 23, 2014 at 12:31 EDT

Ballard Signs MOU With Tata Motors To Power Clean Fuel Cell Bus Demonstrations In India

January 27, 2012
        --  12 fuel cell stacks to power buses in multiple cities

VANCOUVER, Jan. 27, 2012 /PRNewswire/ – Ballard Power Systems (TSX: BLD)
(NASDAQ: BLDP) has announced signing of a non-binding Memorandum of
Understanding (MOU) with Tata Motors (India) for 12 FCvelocity(TM)-1100 fuel cell stacks. These stacks are expected to power zero-emission
buses planned for demonstration in various Indian cities. Delivery to
Tata Motors is planned for 2012 and 2013, in-line with that Company’s
plans.

Tata Motors, one of the world’s largest bus OEM’s, displayed the first
fuel cell bus built in India at “Auto Expo 2012″ held in New Delhi
January 6-11, 2012. The bus is powered with a Ballard FCvelocity(TM)-1100 fuel cell stack, previously delivered to Tata Motors in 2011.

Mr. P.M. Telang, Managing Director (India Operations) at Tata Motors
said, “We strive to be leaders in the use of technology, while
maintaining very high standards of product quality. Working with
technology companies such as Ballard only strengthens our ability to
design and market the wheels of a greener world here in India.”

Tata Motors is part of the Tata Group, a pioneer in India’s automotive
industry, and has previous bus system integration experience working
with Ballard fuel cell products. Tata Motors’ plan to supply fuel cell
buses for testing and demonstration in revenue service is supported by
the Government of India’s Department of Scientific and Industrial
Research under the Technology Development & Demonstration Programme.

John Sheridan, Ballard’s President and CEO said, “We are very pleased to
have signed this MOU with India’s premier bus manufacturer for Tata’s
upcoming zero-emission bus testing program. This is additional
validation of the mature state of our products and of the growing
global market for clean energy transit buses.”

Ballard FCvelocity(TM)-1100 fuel cell stacks are based on a design that is ideal for use in
heavy duty vehicles. FCvelocity(TM)-1100 fuel cell stack technology is at the heart of the Company’s FCvelocity(TM)-HD6 fuel cell module, a “plug and play” power solution used by bus
OEM’s around the world.

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 market
adoption for our products.  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