Ballard Receives $4M Strategic Investment From South Africa's Anglo American Platinum Limited

 Ballard Receives $4M Strategic Investment From South Africa's Anglo American
                               Platinum Limited

PR Newswire

VANCOUVER, March 3, 2013

VANCOUVER, March 3, 2013 /PRNewswire/ - Ballard Power Systems (NASDAQ:
BLDP)(TSX: BLD) has announced signing of a definitive agreement with Anglo
American Platinum Limited (www.angloplatinum.com), under which Anglo American
Platinum will invest $4 million in Ballard through its PGM Development Fund,
to support continued commercial advancement of the Company's fuel cell
products in target market applications.

Anglo American Platinum's interest in the growth of fuel cell market adoption
extends beyond the implications for platinum utilization, to the potential
transformational impact fuel cells could have on the economy in South Africa.

An example of this latter impact is the joint work currently underway between
Ballard and Anglo American Platinum on development of a prototype Home
Generator. This product is intended to address the need of many households in
remote rural communities for economical electric power. The Home Generator
will be built with Ballard fuel cells and run on readily available methanol
fuel, utilizing an integrated fuel reformer. Work on the fuel reformer will
also benefit Ballard's ElectraGen^TM methanol-fuelled systems, which provide
power solutions to the telecommunications industry.

Godfrey Oliphant, South Africa's Deputy Minister of Mineral Resources said,
"We are very pleased to see Anglo American Platinum's investment in Ballard
and their commitment to beneficiation of platinum in South Africa. Fuel
cell-based product deployments will be a positive catalyst for growth in
global platinum demand. South Africa is the leading producer of platinum and
innovations such as the Home Generator project move our country in a positive
direction towards participating actively in the application of Platinum Group
Metals in new technologies which will create important jobs for our economy."

"This strategic investment from Anglo American Platinum is a tremendous
demonstration of Anglo's commitment to fuel cells", said John Sheridan,
President and CEO of Ballard Power Systems. "Furthermore, the Home Generator
power system that we are jointly developing has the potential for profound
impacts in South Africa and elsewhere."

Andrew Hinkly, Executive Head - Commercial for Anglo American Platinum added,
"The agreement we have announced is a testament to our confidence in Ballard's
commercial and technical abilities as a fuel cell leader as well as our
partnership toward completion of the very important Home Generator work. This
program will enable our beneficiation strategy in Africa to create jobs in a
key growth sector for the economy."

Once Ballard has completed development of a prototype Home Generator system
meeting commercial product requirements, the companies will undertake further
field trials, potentially leading to the manufacture, distribution and support
of a commercial product for the African market.

The investment announced today takes the form of a 5-year non-interest bearing
convertible promissory note ("Note") issued by Ballard. The Note may be repaid
in the form of Ballard common shares and Anglo American Platinum has the
option of repayment on or before the loan maturity date. Any Ballard common
shares issued on conversion or repayment would be priced at a 20% discount to
the market price of the shares on the closing date of the transaction.
Completion of the transaction is subject to regulatory approvals, including
that of the Toronto Stock Exchange (TSX), with closing of the transaction
expected to occur on March 29.

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, market adoption for our products, the impact on those
markets and business development opportunities. 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.

Guy McAree +1.604.412.7919,media@ballard.com orinvestors@ballard.com

SOURCE Ballard Power Systems Inc.

Contact:

Guy McAree +1.604.412.7919,media@ballard.com orinvestors@ballard.com
 
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