Ballard Power Systems Inc. announced that more than 270 of the company's ElectraGen fuel cell backup power systems have now been deployed in 16 Caribbean and Latin American (CALA) telecom networks. All of these commercial deployments leverage systems that utilize liquid methanol fuel, a readily available and abundant feedstock in the region. Ballard has 138 of its ElectraGen-ME methanol-fuelled systems deployed in the Caribbean - including countries such as Puerto Rico, Jamaica, the Bahamas, St Lucia, Montserrat and Trinidad & Tobago - 114 systems deployed in Mexico as well as 20 systems deployed in Chile, Guatemala and Argentina. In addition, a number of trials are currently underway with other carriers. In the CALA Region, electric grids are susceptible to power disruptions due to natural disasters and extreme weather conditions. As a result, telecom networks are vulnerable to frequent grid outages, impacting continuity of service to subscribers. This reality is putting a higher focus on the need for extended duration backup power solutions. In these situations, lead-acid batteries and diesel generators are not necessarily a practical or financially attractive means of providing backup power, whereas fuel cell systems can offer a reliable, economic alternative - in addition to being a clean energy solution. Elevated temperatures throughout the CALA Region and proximity to the ocean also present challenging operational conditions that impact life expectancy of traditional backup power solutions, such as lead-acid batteries and diesel generators. ElectraGen fuel cell systems, on the other hand, are built on reliable technology that delivers predictable performance across a wide range of climates - including tropical conditions - while also virtually eliminating emissions and noise, and minimizing maintenance. In addition, fuel cell systems are putting an end to pilferage, a common issue involving diesel fuel and batteries in many areas. The company's ElectraGen methanol-fuelled systems are particularly well suited for 'extended runtime' backup power needs. These systems are designed for high reliability, long life and minimal preventive maintenance. They include a fuel reformer that converts HydroPlus into hydrogen gas to power the fuel cell.

Ballard Power Systems Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company announced product and service revenues of $12,335,000 compared to $10,079,000 for the same period a year ago. Loss from operating activities was $7,289,000 compared to $8,659,000 for the same period a year ago. Net loss from continuing operations for period was $8,370,000 compared to $8,746,000 for the same period a year ago. Net loss for period was $8,412,000 or $0.09 per basic and diluted share compared to $8,529,000 or $0.10 per basic and diluted share for the same period a year ago. Net loss attributable to the company from continuing operations was $7,936,000 or $0.09 per basic and diluted share compared to $8,660,000 or $0.10 per basic and diluted share for the same period a year ago. Cash used by operating activities was $6,998,000 compared to $15,065,000 for the same period a year ago. Additions to property, plant and equipment was $29,000 compared to $135,000 for the same period a year ago. The $0.7 million reduction in net loss for the first quarter of 2013 was driven by the improvement in adjusted EBITDA of $1.7 million, partially offset by a $1.2 million charge to finance income (loss) as a result of the settlement of the TPC obligation. Adjusted LBITDA was $4.648 million compared to $6.370 million a year ago. Normalized net loss was $6.7 million compared to $8.7 million a year ago. Normalized net loss per share was $0.07 compared to $0.10 a year ago. Revenue was up 22% year-over-year led by Telecom Backup Power and Engineering Services. Cash used by operating activities improved 54% due primarily to the lower working capital requirements of $7.9 million. The company has confirmed full year of 2013 guidance for revenue growth in excess of 30% (or at least $56.8 million from $43.7 million in 2012) and improvement in Adjusted EBTIDA in excess of 50% from 2012 (or lower than adjusted LBITDA $11.1 million from adjusted LBITDA $22.1 million in 2012). Similar to prior years and consistent with revenue and adjusted EBITDA performance expectations for the year and the resulting impacts on gross margin and working capital, the company expects cash used in operating activities in 2013 to be materially higher in the first and second quarters of 2013, as compared to the third and fourth quarters of 2013. Cash used in operating activities in the first two quarters of 2013 is expected to be negatively impacted by the buildup of inventory to support higher product shipments in the third and fourth quarters, and by the timing of revenues and the related customer collections which are also skewed towards the last half of the year. The company expects cash used to decline significantly through 2013. The company now sees break-even EBITDA achievable with the lower level or revenue in the mid to high $80 million range. For the quarter ended March 31, 2013, the company announced impairment loss on property, plant and equipment of $50,000.

Ballard Power Systems Inc. at its AGM to be held June 4, 2013, proposed amendment to the corporation’s articles of incorporation to consolidate its issued and outstanding shares on the basis of a ratio within the range of one post-consolidation share for every three pre-consolidation shares to one post-consolidation Share for every seven pre-consolidation shares, with the ratio to be selected and implemented by the board of directors in its sole discretion.