| Ballard Power Systems - BLD.t provides clean energy solutions enabling optimized power systems for a range of applications. Ballard offers smarter solutions for a clean energy future. |  |
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Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced at a public event in Jinan, Shandong Province, China that it has entered into a strategic collaboration with Weichai Power Co., Ltd. (“Weichai”; http://en.weichaipower.com/), which includes (i) a substantial equity investment by Weichai in Ballard of approximately $163 million, representing a 19.9% interest in the company and reflecting a price based on a 15% premium to the 30-day VWAP, (ii) establishment of a joint venture (“JV”) to support China’s burgeoning Fuel Cell Electric Vehicle (“FCEV”) market, (iii) a $90 million technology transfer program to the JV related to Ballard’s next-generation LCS fuel cell stack and power modules for bus, commercial truck and forklift applications in China, and (iv) a commitment by Weichai to build and supply at least 2,000 fuel cell modules for commercial vehicles in China, as announced by Weichai today.
    
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