Ballard Power Systems Inc. · TSX:BLDP
Ballard Power Systems — Investor Presentation (2023)
41 slides from Ballard Power Systems's investor presentation, 2023
Slide 1: Powering the Future of Rail with Hydrogen
Powering the Future of Rail with Hydrogen Name Title Date
Slide 2: Agenda
• What about Hydrogen? • Ballard Power Systems - Fuel Cell Innovator for over 40 years • Ballard Power Systems – your Agenda sustainable partner • From Road to Rail • Ballard Power Systems Rail Product Portfolio • Project examples and customer references
Slide 3: Hydrogen
Hydrogen
Slide 4: There is no climate solution without hydrogen
There is no climate solution without hydrogen ➢ 50 countries have developed hydrogen strategies, road maps or are supporting national projects ➢ Over 520 large scale green hydrogen projects announced to date ➢ Near 150 members in the Hydrogen Council globally since 2017
Slide 5: Hydrogen is key to the decarbonization of our economy
Hydrogen is key to the decarbonization of our economy • Hydrogen is the energy carrier to decarbonize multiple sectors and change the future industry • Supported by electrolyzing technology hydrogen is an important storage solution for renewable energy that cannot be distributed by the grid • Hydrog
Slide 6: Hydrogen is most competitive in heavy duty motive applications
Hydrogen is most competitive in heavy duty motive applications Our focus is on applications where hydrogen fuel cells have a clear advantage Buses & Coaches Trucks Trains Ships Fuel cell technology is essential to decarbonize the heavy duty transportation sector Our focus is on applications where hy
Slide 7: Hydrogen powered trains are poised to change the rail industry
Short refueling time Hydrogen powered trains are poised to change the rail industry Long range and route The environmental gains of flexibility electrification with performance and refueling time comparable to diesel Cost effective route electrification
Slide 8: Ballard Power Systems Fuel Cell Innovators for over 40 Years
Ballard Power Systems Fuel Cell Innovators for over 40 Years
Slide 9: Proven Performance Promise
Proven 44 years of fuel cell deployments in diverse applications bring experience, scale, service and lifecycle cost expertise advantages Performance Ballard Power Leading Fuel cell efficiency, Systems durability and reliability Products developed according to industry standards We are dedicated to
Slide 10: Ballard by the numbers
SALLARD’ Ballard by the numbers 28 years pllnasdaq 30 years tsk — 7TRAIN 8 SHIPS project /\\ >5.3 MILLION PRODUCTION MEAs >150 MILLION : SITES produced Kilometersin production capacity global footprint
Slide 11: Our global presence
Hobro, Ballard Motive Weifang, China Vancouver, Canada Denmark Our global Solutions (UK) Weichai Ballard JV Hy-Energy Bend, US presence Guangdong, China We are present in: Europe - China - North America We have global industrial partners to deliver world- leading fuel cell solutions Manufacturing or
Slide 12: We support our customers through their journey
We support our customers through their journey Consultancy Applications Engineering After-sales Manufacturing Training engineering services services • Over 40 years experience • FAT & SAT • Testing & certifications • Four global production • Fuel cell technology • On site support sites knowledge • C
Slide 13: From low to high level integration
We have a comprehensive range of fuel cell products to address multiple applications Product Line Specifically designed for the application From low to high level integration Fuel cell MEAs and bipolar plates components Buses, trucks, cars Air and liquid cooled Fuel cell stacks stacks Mobile (buses,
Slide 14: We are a vertically integrated manufacturer throughout the fuel cell value chain
We are a vertically integrated manufacturer throughout the fuel cell value chain We design, build and test proprietary core technology components to produce optimized fuel cell products for each application • Unit cell components (MEAs, plates…) • Fuel cell stacks • Balance of plant component integr
Slide 15: Product development continually focuses on meeting performance and lifecycle cost targets
Product development continually focuses on meeting performance and lifecycle cost targets Continually refining Customer Research in MEA material requirements Product end of MEA, bi-polar life strategy to plates and Modularization and improve stack advanced residual value manufacturing standardizatio
Slide 16: Ballard Power Systems your sustainable partner
Ballard Power Systems your sustainable partner
Slide 17: Why Ballard?
Because … We offer zero emission solutions - from stack supply to turnkey power solutions at MW scale Our technology is proven with over 1GW of fuel cell products shipped and serviced to date Why Ballard? Major top global partners have signed up and trust in our partnership We have a clear road map
Slide 18: To ensure sustainability is considered over the entire lifecycle of our products
>95% Precious metals are reclaimed during recycling To ensure sustainability is considered over the entire lifecycle of our products At Ballard we: Design our product to minimize carbon footprint Refurbish fuel cell stacks at the end of life Re-use graphite bipolar plates Reclaim 95% of the platinum
Slide 19: Sustainable power from a sustainable company
Reducing the evirnomental footprint of our operations Sustainable power from a sustainable Reducing our fuel company cell product carbon Ballard Environmental, Social footprint and Governance (ESG) Report 2021 https://www.ballard.com/about- ballard/our-sustainability Ballard to be net 2030 net zero
Slide 20: Ballard Power Systems your sustainable partner
Ballard Power Systems your sustainable partner
Slide 21: Why Fuel Cells and how does it work?
Why Fuel Cells and how does it work? PEM Fuel Cells • help the transition away from fossil fuels • create zero emissions • generate reliable DC power when required • are highly efficient • support various duty cycle applications • Provide rapid ramp-up/down to follow load
Slide 22: Fuel cell systems are scalable to a variety of routes and applications
Fuel cell systems are scalable to a variety of routes and applications Passenger Locomotive Shunter Tram © Canadian Pacific Rail © Pesa © Siemens Mobility GmbH • 400kW fuel cell • 1.2MW fuel cell • From 170kW+ • 400kW fuel cell power demand power demand fuel cell power power demand demand • Workload
Slide 23: Zero emission: nearly any train route
ZERO EMISSION Lower CAPEX on non- electrified tracks Nearly any train route served by diesel trains can be served by a hydrail train Flexibility and range • No requirement for overhead catenary infrastructure and power substations • Enables gradual electrification (one train at the time) aligned wit
Slide 24: Cost effective route electrification
Cost effective route electrification “The hydrogen train is already more competitive than electric catenary for a use case with relatively long distance and low frequency.” Hydrogen Council, 2020
Slide 25: Ballard Power Systems Rail Product Portfolio
Ballard Power Systems Rail Product Portfolio
Slide 26: A dedicated portfolio of products for heavy duty mobility
A dedicated portfolio of products for heavy duty mobility Bus & Truck Marine & Rail -XD+ 200kW 200 kW /240kW (2023) -HD+ 100kW (2025)
Slide 27: Product development focuses on meeting performance and lifecycle cost targets
Product development focuses on meeting performance and lifecycle cost targets Improved power density Simplify Reduced Battery & catalyst Powertrain loading integration Reduced lifecycle cost Improve stack Increased and BoP operating component temperature durability
Slide 28: FCrail-HD+ Module
FCrailTM-HD+ Module • 100kW building block fuel cell power modules • Multiple units installed in flexible configuration to meet power requirements • Designed and tested to rail-specific standards • Proven fuel cell stack durability (over 30,000h in FC bus application service)
Slide 29: Project examples and customer references
Project examples and customer references
Slide 30: Trains powered by Ballard
Trains powered by Ballard © Siemens Mobility GmbH • Ballard to Power Sierra Northern Railway Switching Locomotive in California • Ballard Announces Order for Modules to Power Scotland’s First Fuel Cell-Powered Train • Ballard to Power Talgo Fuel Cell Passenger Train in European Trial, Ahead of Plann
Slide 31: Case Study: Foshan Gaoming Hydrogen Tram Line
Case Study: Foshan Gaoming Hydrogen Tram Line Rolling Stock OEM CRRC Qingdao Sifang Application 5 fuel cell trams Region Gaoming District, Foshan City, China Ballard product FCveloCity®-XD, 200kW Start of operation December 2019 Max. passenger capacity 394 Max. Range per refueling 125km Total kilome
Slide 32: Case Study: Siemens Mireo Plus H
Case Study: Siemens Mireo Plus H Rolling Stock OEM Siemens Rail Platform Mireo Plus H Application passenger train Region Berlin-Brandenburg (D) Ballard product 2 x FCrailTM-XD+ SE, 400kW Planned start of operation: December 2024
Slide 33: Case Study: CP Rail Hydrogen Locomotive Program
Case Study: CP Rail Hydrogen Locomotive Program Rolling Stock OEM CP Rail Locomotive Platform converting diesel-electric powertrains to hydrogen-electric powertrains Application line-haul freight locomotive Region Alberta, Canada Ballard product 6 x FCwave™, 1.2MW Timeline 2021 - 2022 © Canadian Pac
Slide 34: Case Study: PESA Shunting Locomotive
Case Study: PESA Shunting Locomotive Rolling Stock OEM PESA Locomotive Platform SM42-6Dn locomotive Application Shunting locomotive Region Płock ,Poland Ballard product 2 x FCveloCity™-HD85, 170kW Timeline August 2022 – April 2023
Slide 35: Case Study: Stadler Flirt H2 first hydrogen train in the US
Case Study: Stadler Flirt H2 first hydrogentrain in the US Rolling Stock OEM Stadler Rail Platform Flirt H2 Application passenger train Region San Bernardino, CA (USA) Ballard product 6 x FCrailTM-HD+, 600kW Timeline 2023 - 2024
Slide 36: Thank you
Here for life Ballard.com
Slide 37: Additional Slides
Additional Slides • Infographic Hydrogen Fuel Cell vs. Diesel • Ballard region North America • Ballard region Europe • Ballard region China
Slide 38: Hydrogen Fuel Cell vs. Diesel Technology
Hydrogen Fuel Cell vs. Diesel Technology COMPARABLE OPERATIONS COMARISON OF EFFICIENCIES Comparison of efficiencies for a fuel cell system and internal combustion engine. Source: IBZ.
Slide 39: Ballard in North America
Strong Presence • Corporate headquarters located in Vancouver with R&D and manufacturing facilities Ballard in • R&D office and US manufacturing facilities in Bend, OR North America Strong Market Focus Location of corporate headquarters • Fuel cell buses deployed in 6 transit systems • 100+ fuel cel
Slide 40: Ballard in Europe
• Ballard Power Systems Europe A/S located in Hobro, Denmark • Location of Ballard’s Marine Center of Excellence and Critical Communication Infrastructure Center of Excellence • Manufacturing capacity of 60 MW/year Ballard in Europe • Local manufacturing of Ballard’s fuel cell products for marine in
Slide 41: Ballard in China
Strong Presence • 2 operating platforms including wholly- owned China command center and one Ballard in China manufacturing joint venture, with over 350 staff Technology powering >30% of all fuel cell buses and trucks in China Strong Market Focus • Local manufacturing of FCvelocity®- 9SSL, FCvelocit