Ballard Signs Supply Agreement with H2 Logic A/S for Materials Handling Market

VANCOUVER, BRITISH COLUMBIA, Jan 15 (MARKET WIRE) --
Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) today announced it has
signed a two-year supply agreement with Danish system integrator H2 Logic
A/S, to supply fuel cells for products developed for the materials
handling market.

"This agreement with H2 Logic is evidence of the growing interest in fuel
cell-powered forklift solutions," said Mike Rosenberg, Ballard's
Director, Materials Handling. "Ballard continues to build a solid set of
customer relationships in the materials handling space. This is our first
strategic relationship with a European system integrator actively engaged
in this market. While volumes under this supply agreement will be small
initially, we see strong growth potential with H2 Logic."

Under the agreement, H2 Logic will purchase Mark9 SSL(TM) and Mark1020
ACS(TM) fuel cell products from Ballard and integrate these into fuel
cell hybrid systems targeted for various materials handling vehicles such
as forklifts for warehouses and distributions centers.

"Ballard's technology has proven itself in terms of performance,
reliability and ease of integration," said Mikael Sloth, Business
Development Manager at H2 Logic. "We are excited to develop and
commercialize H2 Logic's next generation of fuel cell hybrid systems for
materials handling with Ballard as a strategic supplier."

About Ballard Power Systems

Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) is recognized as a world
leader in the design, development, manufacture and sale of zero-emission
hydrogen fuel cells. Ballard's mission is to make fuel cells a commercial
reality. To learn more about what Ballard is doing with Power to Change
the World(R), visit www.ballard.com.

About H2 Logic A/S

H2 Logic is a world leading developer of Motive Power Solutions
consisting of a Fuel Cell Hybrid System and a supporting Hydrogen
Refueling that can satisfy the need of motive power in various transport
applications. www.h2logic.com.

This release contains forward-looking statements that are based on the
beliefs and assumptions of Ballard's management and reflect Ballard's
current expectations as contemplated under section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities and Exchange
Act of 1934, as amended. Such assumptions relate to our financial
forecasts and expectations regarding our product development efforts,
manufacturing capacity, and market demand. These statements involve risks
and uncertainties that may cause our actual results to be materially
different, including, without limitation, the rate of mass adoption of
our products, product development delays, changing environmental
regulations, our ability to attract and retain business partners and
customers, our access to funding, increased competition, our ability to
protect our intellectual property, changes in our customers'
requirements, and our ability to provide the capital required for product
development, operations and marketing. 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. For a detailed discussion of the risk factors that could
affect Ballard's future performance, please refer to our most recent
Annual Information Form.

For further information, or to arrange an interview with a Ballard
spokesperson, please call Rebecca Young at 604-454-0900. Ballard, the
Ballard logo, Power to Change the World and Mark 9 SSL are registered
trademarks of Ballard Power Systems Inc.

Contacts:
Ballard Power Systems Inc.
Rebecca Young
(604) 454-0900
(604) 412-4700 (FAX)
Website: www.ballard.com

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