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Ballard Progresses Licensing Strategy Through Telecom Backup Power Agreement in China

Source From: BALLARD POWER Systems

Rugao, China – Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) today announced the signing of a definitive agreement with Azure Hydrogen (Azure) in relation to an assembly license for Telecom Backup Power systems for the China market. The agreement has a value of approximately $6 million over the 2014-15 period.

In addition to the payment for the assembly license, under the agreement Ballard will be the exclusive supplier of subsystems – including FCgen™-1020ACS air-cooled fuel cell stacks and fuel processors – and will receive a royalty payment for each Telecom Backup Power system sold in China, should Azure successfully execute its Business Plan and achieve volume commitments.

Licensing of Ballard’s deep portfolio of fuel cell intellectual property (IP) and fundamental know-how, including the recently acquired IP portfolio of United Technologies Corporation which encompasses approximately 800 PEM fuel cell patents, is a key element of the Company’s three-level business model, along with product sales and Engineering Services.

Fuel cell systems provide highly reliable backup power solutions for wireless telecom operators at an attractive lifecycle cost. Ballard’s ElectraGen™ portfolio of fuel cell power generation systems, fuelled by either direct hydrogen or methanol, are particularly well suitable for extended duration runtime applications. These compact, scalable systems offer significant financial and environmental advantages in comparison to the alternatives of lead acid batteries or diesel generators.

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