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BLDP: The Rapid Global Commercial Deployment of Fuel Cell Systems

IN FOCUS: BALLARD POWER SYSTEMS, ITS GROWTH STRATEGY AND THE RAPID GLOBAL COMMERCIAL DEPLOYMENT OF FUEL CELL SYSTEMS.

The alphaDIRECT Insight

We believe that the underlying strengthening of the fuel cell business is reflected in Ballard’s record revenue year and strong 2017 year-end results. The Company achieved positive adjusted EBITDA for a full fiscal year and we believe Ballard is well positioned to satisfy the growing global interest and increased demand for fuel cell-powered transportation applications. In our view, Ballard is poised at the intersection of three global megatrends, namely, decarbonization, air quality, and electrification of transport which are all part of the global movement toward significantly reducing or even eliminating internal combustion engines from urban centers. In vehicle use cases where customers require long range, rapid refueling and full route flexibility, fuel cells offer a compelling value proposition. We believe that fuel cells offer a viable customer solution in the near- and mid-term timeframe for a growing range of heavy and medium duty vehicles. Additionally, Ballard anticipates growth in global markets like China, Europe and North America over the medium term.

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