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Ballard Power Systems (NASDAQ: BLDP) Strengthens Their Team

Ballard Power Systems Adds a New Board Member - the company has appointed Ms. Duy-Loan to the BOD and the company announced that it has signed an initial Equipment Sales Agreement with Zhuhai Yinlong Energy Group

Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) a company that provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs, has announced a new board member.

Effective February 1, 2017 the company has appointed Ms. Duy-Loan to the Board of Directors. A quick bibliography of her story, Le retired in 2015 as the first and only woman elected Senior Fellow at Texas Instruments Incorporated closing out her distinguished 33-year career at the market-leading organization. Le currently serves as a member of the board of directors at National Instruments and at eSilicon. She chairs the compensation committee at both companies.

On the appointment, Chairman Ian Bourne said, “Duy-Loan is highly accomplished and will bring a tremendous wealth of experience and insight to the Ballard board of directors. Her outstanding career at one of the world’s premier technology companies, including work in international markets, complements the capabilities of our board and continues the renewal process as Ballard seeks to leverage its market leadership, scale the business and move toward profitability.”

The new addition is a string of strong company announcements already this year. The company recently announced that it is the first fuel cell company to power buses for more than 6.2 million miles of revenue service, equivalent to circling the Earth 250 times at the equator. Ballard FCveloCity engines are powering more than 80 buses around the globe: 41 in Europe, including Belgium, Germany, Italy, the Netherlands, Norway, Scotland and the U.K.; 24 in the Cities of Foshan and Yunfu, China; 13 in the U.S.A., including the states of California, Massachusetts, Michigan and Ohio; 3 in Brazil; and 1 in India.

On January 19, the company’s subsidiary, Protonex, has received certification from the U.S. Government enabling its SPM-622 (Squad Power Manager) and VPM-402 (Vest Power Manager) products to be exported under the Commerce Department’s Export Administration Regulations. Essentially, these products can be sold to allied military partners as well as commercial customers without the need for an export license.

And just last week the company announced that it has signed an initial Equipment Sales Agreement with Zhuhai Yinlong Energy Group, a major Chinese manufacturer of battery electric buses, for 10 FCveloCity-MD 30-kilowatt fuel cell engines. Ballard plans to deliver the engines in 2017 for integration into Yinlong buses that will be deployed in Beijing. The company implies this is a strong milestone given the fact that many “Chinese cities suffer from a severe air pollution challenge, and it’s an important reason for the country’s move toward zero-emission mass transportation alternatives.”

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