UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
May 10, 2017
Commission File Number: 000-25270
| Ballard
Power Systems Inc. ——————————————————————————————————— |
| (Translation of registrant’s name into English) |
| Canada ——————————————————————————————————— |
| (Jurisdiction of incorporation or organization) |
| 9000
Glenlyon Parkway Burnaby, BC V5J 5J8 Canada |
| ——————————————————————————————————— (Address of principal executive office) |
| Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: ☐ Form 20-F ☒ Form 40-F |
| Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ |
| Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ |
| Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ☐ Yes ☒ No |
| If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a |
SIGNATURES
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
| Ballard Power Systems Inc. | ||
| Date: May 10, 2017 | By: | /s/
Tony Guglielmin |
| Name: | Tony Guglielmin | |
| Title: | Chief Financial Officer | |
EXHIBIT INDEX
Exhibit No. |
Description | |
| 99.1 | News Release Dated May 10, 2017 - Ballard CFO Recognized in Transformation Agent Category of the '2017 BC CFO Awards' |
Exhibit 99.1
Ballard CFO Recognized in Transformation Agent Category of the '2017 BC CFO Awards'
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.
View original content: http://www.newswire.ca/en/releases/archive/May2017/10/c3340.html
%CIK: 0001453015
For further information: Guy McAree +1.604.412.7919, media@ballard.com or investors@ballard.com
CO: Ballard Power Systems Inc.
CNW 17:00e 10-MAY-17