HPS Home Power Solutions AG and Ballard Power Systems announce cooperation for energy self-sufficient private homes

Berlin, Germany, and Vancouver, Canada, 13 May 2019

HPS Home Power Solutions AG (HPS), the Berlin-based energy solutions provider for single-family homes which fulfils the need for energy independence, and Ballard Power Systems, Inc. (“Ballard”; NASDAQ: BLDP; TSX: BLDP), a leading global provider of innovative clean energy solutions, today announced a multi-year agreement under which Ballard will supply FCgen®-1020ACS air-cooled fuel cell stacks to Home Power Solutions to power its picea system. Ballard fuel cell stacks are an integral component of currently installed picea systems.

The agreement marks an important step towards commercialization and scaling-up in production of the picea system as it includes long-term supply, thus securing the supply chain and scalability to high volumes at superior quality. Including refurbishment and recycling of the fuel cell stacks, the agreement establishes a closed use-reuse cycle and is thus in line with HPS’ comprehensive mission for sustainability. For Ballard Power Systems, this collaboration with HPS enables access to the residential energy market and its high growth potential.

Jesper Themsen, President and CEO of Ballard Power Systems Europe A/S said,

“We are proud to become an HPS partner during the ramp-up of picea commercialization. In this crucial stage, HPS is the technology leader in independent energy supply for private residences. After several years of experience with Ballard fuel cell stacks, and based on this successful cooperation, HPS is now confirming its commitment to our clean energy product. Ballard and HPS share the same belief that clean electrical energy for residential applications is crucial. We are confident that, with our long-term partnership, we can make a difference in sustainable energy supply to private homes.”

“Ballard Power Systems has extensive fuel cell know-how and field experience that enables it to effectively deliver innovative clean energy solutions to customers. Ballard’s fuel cell stacks are a central component of the picea system, delivering zero-emission electrical power if integrated in our self-developed modules. We are very excited to have Ballard, the fuel cell technology leader, as our partner.”

commented Zeyad Abul-Ella, Managing Director and Founder of HPS Home Power Solutions AG.

“The Ballard Power Systems brand is widely recognized in the renewable energy sector. It is an important signal to our customers that we have secured long-term supply of Ballard products at the highest quality standards. This is central to our scale-up strategy that we are now setting into action with strong partners at our side.”

About HPS Home Power Solutions AG

HPS develops and produces systems for storing and using solar energy in single- and multi-family homes. HPS stands for safety, independence and sustainability in decentralized energy supply. The first system from HPS, picea, combines energy storage, heating support and indoor ventilation in one compact system. Thanks to its high-performance energy management system, picea is able to meet the complete electrical energy needs of a family home. In addition, all waste heat produced is used to provide the house with heat and hot water, thus lowering the cost of heating. Compared to commercially available battery solutions, picea has a hundred times more storage capacity with twice the output. picea is energy efficient and provides energy in all seasons. This allows picea to provide complete energy self-supply and independence from the grid. The energy produced by the photovoltaic installation on sunny days can either be used straightaway, or converted into hydrogen and stored. This energy is then made available at night or during the winter when there is little or no sunshine. The HPS system’s fuel cell converts the energy stored as hydrogen back into electrical energy and heat as needed. HPS is based in Berlin. For more information, please visit: www.homepowersolutions.de/en

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 challenges or address new business opportunities. To learn more about Ballard, please visit www.ballard.com

Contact HPS Home Power Solutions

Nils Boenigk (Public Affairs & Public Relations)
Tel.: +49 30 235914-704
Email: nbo@homepowersolutions.de

Contact Ballard Power Systems

Ballard Power Systems
Guy McAree, Director of Investor Relations Tel.: +1.604.412.7919
Email: guy.mcaree@ballard.com