VANCOUVER, May 10, 2017 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) today announced that the Company's Vice
President and Chief Financial Officer – Mr. Tony Guglielmin – has been selected as the
winner in the Transformation Agent category of the "2017 BC
CFO Awards".
Business in Vancouver and the
Chartered Professional Accountants of British Columbia have partnered to select
winners in a number of categories for this 7th annual
series of awards – further details are available at this website:
https://www.biv.com/events/event/468/date/2017/6/2/. Mr. Guglielmin
and winners in other categories will be honored at a gala event
being held at The Fairmont Waterfront Hotel in Vancouver on the evening of Thursday, June 1st.
"We are extremely proud to see Tony's hard work and
accomplishments formally recognized by his peers in the finance and
accounting profession," noted Randy
MacEwen, Ballard President
and CEO. "Our Company has undergone significant transformation over
the past 18 months, representing tremendous progress that would not
have been possible without Tony's financial, transactional and
organizational leadership in the CFO role. Also, Tony has
consistently ensured a high degree of integrity and transparency in
Ballard's approach to investor communications, including financial
reporting."
Tony Guglielmin said, "With our
talented and innovative team, leading technology and products,
unique market experience, recognized brand and strong balance
sheet, Ballard is the global leader in the hydrogen fuel cell
industry and is at the forefront in the growing clean energy space.
We are continuing our journey with compelling customer value
propositions, exciting growth trends and improving financial
results. I want to thank the entire team at Ballard for their
collective hard work and commitment to our important mission."
Over the past 18 months, Mr. Guglielmin was instrumental in the
delivery of a number of key transactions and developments at
Ballard, including:
- The acquisition of Protonex Technologies, a leading provider of
portable power managers for the U.S. military.
- $5.0 million strategic investment
by Nisshinbo Holdings, a long-time Japanese supplier of bipolar
plates.
- The strategic sale of the methanol Backup Power business for up
to $6.1 million.
- The implementation of more than $6.0
million in annualized cost savings as a result of a
rationalization program.
- $28.3 million strategic
investment by Broad-Ocean Motor, a leading Chinese manufacturer of
motors for electric vehicles, and an estimated $25 million technology transfer transaction to
enable Broad-Ocean Motor to manufacture Ballard modules in three
Chinese cities.
- Closing of a technology transfer, licensing, supply and joint
venture agreement transaction to localize fuel cell stack
manufacturing in China with
Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd., with
an estimated revenue value to Ballard of $170 million over 5 years.
- Strong 2016 financial results, including: 51% year-on-year
revenue growth; 10-point year-on-year improvement in gross margin;
record positive Adjusted EBITDA of $1.8
million in Q4; 81% increase in cash reserves to $72.6 million at year-end.
- The implementation of an ERP (Enterprise Resource Planning)
system.
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.
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.
SOURCE Ballard Power Systems Inc.