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Ballard Power Systems Announces $264 Million Order Backlog
Friday, September 22, 2017Company Profile | Follow Company
Burnaby, BC, September 22, 2017--(T-Net)--Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) announced today that the Company has achieved an Order Backlog of $263.5 million as of June 30th, 2017, representing the aggregate value of orders for which customers have made contractual commitments.
In addition, Ballard is announcing that it achieved a 12-month Order Book of $97.2 million as of June 30th, 2017, representing the aggregate value of that portion of the Order Backlog the Company expects to deliver in the subsequent 12-month period.
Mr. Randy MacEwen, Ballard President and CEO said, “We are very pleased to report strong Order Backlog and 12-month Order Book numbers, which underscore Ballard's positive and continuing growth trajectory. Moving forward, we intend to provide updates to our Order Backlog and rolling 12-month Order Book numbers on a quarterly basis, consistent with our ongoing approach to providing financial and operational transparency.”
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.
Forward-looking Statements
This release contains forward-looking statements concerning anticipated product performance, customer benefits and market demand for our products. 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 legislation.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. The Ballard Common Shares have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Further Information
Guy McAree +1.604.412.7919, media@ballard.com or investors@ballard.com
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