Siemens Announces Receipt of Funding For Fuel Cell Train Development Program With Ballard

Ballard Power Systems congratulates Siemens AG today, following its announcement of the receipt of approximately €12 million in funding to support the development of a zero-emission fuel cell light rail train called Mireo.

VANCOUVER, CANADA and MUNICH, GERMANY - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) congratulates Siemens AG today ("Siemens"; www.siemens.com), following its announcement of the receipt of approximately €12 million in funding to support the development of a zero-emission fuel cell light rail train called Mireo.


Ballard announced on November 14th, 2017 that we had signed a multi-year Development Agreement with Siemens for development of a 200 kilowatt fuel cell engine to power the Mireo train, with a contemplated value of $9 million to Ballard.

Siemens Mireo with captionMireo is a modular commuter train platform designed for speeds of up to 160 kilometers per hour (100 miles per hour). Thanks to lightweight design, energy-efficient components and intelligent onboard network management, the Mireo will consume up to 25% less energy than trains with similar passenger capacity. In addition, hydrogen-powered trains such as the Mireo offer advantages over traditional electrification solutions, including reduced infrastructure costs and minimal environmental impact. Initial deployments of the fuel cell-powered Mireo train are planned for 2021.

The long-term goal of the collaboration between Siemens and Ballard is the development of a modular, scalable traction construction system using fuel cells, integrated into the Mireo train platform. In this way, Mireo can flexibly serve a variety of applications - both battery-electric and trolley-less, with the help of hydrogen-powered vehicles.

Rheinisch-Wesfälische Technische Hochshule Aachen (RWTH) is a partner of the program. Siemens and RWTH Aachen University are funded under the program by the Federal Ministry of Transport and Digital Infrastructure (BMVI) through the "National Innovation Program Hydrogen and Fuel Cell Technology". The program is coordinated by the NOW GmbH National Organization for Hydrogen and Fuel Cell Technology.

Siemens is the largest industrial manufacturing company in Europe, headquartered in Munich, Germany and with offices around the globe. Siemens has more than 350,000 employees worldwide and the Company generated revenue in excess of €79 billion (USD$94 billion) in 2016.

About Ballard Power Systems

Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) provides clean energy products 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 www.ballard.com.

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