Ballard Acquires 100 Percent Ownership of the Company`s European Subsidiary

Vancouver, Canada / Hobro, Denmark - Ballard Power Systems announced today that it has purchased all shares in the Company`s European subsidiary held by Dansk Industri Invest A/S (previously Dantherm Air Handling A/S) for a nominal value. As a result, Ballard now owns 100 percent of the Company`s subsidiary in Europe, Ballard Power Systems Europe A/S (formerly Dantherm Power A/S).

Ballard held 57 percent of the shares in Ballard Power Systems Europe A/S before purchasing the remaining 43 percent of shares from Dansk Industri Invest A/S on January 5th, 2017. For a nominal payment Ballard acquired the remaining shares and obtained the cancellation of debt owed by Ballard Power Systems Europe A/S to Dansk Industri Invest A/S.

Source: IWR Online, 11 Jan 2017