Ballard Launches Next-Generation High Performance Fuel Cell Power Module for Mass Transit Applications

Ballard Power Systems announces the commercial launch of our FCvelocity®-HD7, our next-generation heavy duty fuel cell power module for use in mass transit applications. This module was introduced last week at the UITP World Congress and Exhibition in Milan, Italy.

June 16, 2015

VANCOUVER, CANADA - Ballard Power Systems announces the commercial launch of our FCvelocity®-HD7, our next-generation heavy duty fuel cell power module for use in mass transit applications. This module was introduced last week at the UITP World Congress and Exhibition in Milan, Italy.

Ballard's high performance FCvelocity®-HD modules have demonstrated high reliability while clocking millions of kilometers on the road in bus fleets around the world. This 7th generation heavy duty module offers:

The FCvelocity®-HD7 heavy duty zero emission fuel cell power module offers superior performance based on our proprietary fuel cell stack technology, demonstrating unmatched fuel efficiency and durability.

The simplified and scalable design means the module can be integrated into multiple transportation applications from medium-duty trucks to light rail, and the modular design of the air and cooling systems allows for flexible and simpler integration into the vehicle drive train.

Cost Reduction
The new FCvelocity®-HD7 power module features a reduced parts count, simplified design and lower parasitic load. Key components are manufactured with our high-volume production processes, thereby reducing capital cost of the module and maintenance costs associated with parts replacement over the life of the product.

The FCvelocity®-HD7 is the preferred option for OEM's and system integrators looking to reliably deploy fuel cell technology because of Ballard's unmatched experience in the field:
•>30 years' experience with transit applications
•>150 FCvelocity®-HD modules through 7 generations of product design
•Ballard has worked with 10 different system integrators and OEMs to power over 100 buses in 20 cities worldwide
•Ballard powered buses have travelled 7.5M kms and have transported >10 million passengers in revenue service

Currently offered at 100 kilowatts gross power, the module is designed to be scalable, allowing for higher or lower power output, depending on the requirements of the application.

"We are experiencing an increasing volume of fuel cell module deployments in transit applications in key markets, including Europe, USA and China," said Steve Karaffa, Ballard's Chief Commercial Officer. "And, this next-generation product further strengthens the value proposition for customers, offering a low risk and versatile solution for system integrators, backed up by Ballard's unmatched expertise and experience."

Market applications for the FCvelocity®-HD7 are expected to include transit buses and light rail trams - for which the module has already been tested and validated with customers - as well as other transit operations having higher power requirements. Ballard has already received confirmed orders for more than 30 HD7 modules from various bus or light rail customers to be shipped in 2015.

About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) provides clean, innovative energy solutions that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs. To learn more about Ballard, please visit

Some of the statements contained in this release are forward-looking statements regarding product attributes and value propositions for customers, and market growth expectations, within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws, such as statements that describe the anticipated offering of securities under the Company's Prospectus and registration statement and Supplement, and the anticipated use of proceeds from the Offering. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature inherently involve unknown risks, uncertainties, assumptions and other factors well beyond the Company's ability to control or predict. Actual events, results and developments may differ materially from those contemplated by such forward-looking statements. Material factors that could cause actual events to differ materially from those described in such forwarding-looking statements include risks related to the Company's condition requiring anticipated use of proceeds to change, timing of, and ability to obtain, required regulatory approvals, and general economic and regulatory changes.

These forward-looking statements represent the Company's views as of the date of this release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statements.

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