VANCOUVER, March 25, 2013 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLD) congratulates Sustainable Development
Technology Canada (SDTC) on the commitment received in the recently
released Budget 2013 of $325 million over eight years for investment in
Canadian cleantech companies.
John Sheridan, President and CEO of Ballard said, "The Government of
Canada, through SDTC, is doing important work to support development
and commercialization of Canada's cleantech sector, including a number
of projects that have involved Ballard. The projects with Ballard have
contributed to an enhanced competitive position for our
state-of-the-art clean energy fuel cell solutions in such international
markets such as Indonesia, China, Europe, South Africa and the United
To date, through its SD Tech FundTM SDTC has allocated $592 million to 245 clean technology projects,
leveraged by $1.5 billion primarily from industry. SDTC has a total
portfolio value of over $2 billion. These investments have been
bolstered by an additional $2.3 billion from the private sector in
follow-on financing into SDTC's more mature companies, leading to a 15
times leveraging of the Government's investment.
Ballard is currently supported by SDTC on two projects designed to
improve durability and further reduce lifecycle cost of products the
Company manufactures for use in the development stage Bus and
Distributed Generation markets.
About Ballard Power Systems
Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy
fuel cell products enabling optimized power systems for a range of
applications. Products deliver incomparable performance, durability and
versatility. To learn more about Ballard, please visit www.ballard.com.
This release contains forward-looking statements concerning product
development activities and projected outcomes. These forward-looking
statements reflect Ballard's current expectations as contemplated under
section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Any such
forward-looking statements are based on Ballard's assumptions relating
to its financial forecasts and expectations regarding its product
development efforts, manufacturing capacity, and market demand.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including general
economic and regulatory changes, detrimental reliance on third parties,
successfully achieving our business plans and achieving and sustaining
profitability. For a detailed discussion of these and other risk
factors that could affect Ballard's future performance, please refer to
Ballard's most recent Annual Information Form. Readers should not place
undue reliance on Ballard's forward-looking statements and Ballard
assumes no obligation to update or release any revisions to these
forward looking statements, other than as required under applicable
SOURCE: Ballard Power Systems Inc.
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