news - The SiLLC Assembly

Ballard announces global manufacturing strategy, including plan to invest $130 million in MEA manufacturing facility and R&D center in Shanghai, China

VANCOUVER, BC and SHANGHAI, Sept. 30, 2022 – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced today its strategy ‘local for local’ where it plans to deepen its global manufacturing footprint in Europe, the United States and China to support global market demand growth through 2030. As part of this strategy, Ballard has entered into an investment agreement with the Government of Anting in Shanghai’s Jiading District to establish its new China headquarters, membrane electrode assembly (MEA) manufacturing facility and R&D center at a site strategically located at the Jiading Hydrogen Port, located in one of China’s leading automotive industry clusters.

Ballard plans to invest approximately $130 million over the next three years, which will enable annual production capacity at the new MEA production facility of approximately 13 million MEAs, which will supply approximately 20,000 engines. Ballard expects to be able to achieve significant capacity expansion of this facility in future phases with much lower capital requirements. The facility will also include space to assemble approximately 600 engines annually to support the production and sale of Ballard engines in the rail, marine, off-road and stationary markets in China, as well as for certain export markets.

In 2021, Ballard completed its MEA manufacturing expansion in Canada, which is critical as the MEA is the core technology and limiting factor for Ballard’s global fuel cell engine production capabilities. With the new MEA capacity coming online in China, Ballard now expects its global MEA capacity to support total demand requirements through the second half of the decade.

This investment is expected to reduce MEA manufacturing costs, align with China’s fuel cell value chain localization policy, and position Ballard more strongly in the hydrogen fuel cell demonstration cluster regions and for the post-subsidy market.

The facility is planned to be in operation in 2025 to meet expected market demand in China, including from the Weichai-Ballard Joint Venture (WBJV) for the bus, truck and forklift markets, as well as other opportunities outside the WBJV scope. The annual production capacity of the Weichai-Ballard joint venture facility located in Weifang, Shandong is approximately 40,000 stacks and 20,000 engines.

“Our global manufacturing vision for 2030 is to have scaled ‘local for local’ manufacturing of leading fuel cell engines and components in our core regional markets of Europe, North America and China to support future industry growth patterns and volumes across our verticals. In the case of China, we already have volume manufacturing capacity for fuel cell engines, bipolar plates and stack assembly at our WBJV. With our continued high conviction on long-term scaled adoption in China of fuel cell electric vehicles for medium- and heavy-duty motive applications, we are now addressing long-term capacity in that market for our proprietary MEAs,” said Randy MacEwen, Ballard’s Chief Executive Officer. “We believe China is a market headed for a significant demand break-out as hydrogen infrastructure scales over the coming years and as our new MEA production facility comes online.”

“To be competitive in China requires investment in China,” commented Alfred Wong, Ballard China CEO. “This new MEA manufacturing facility will significantly reduce MEA production costs, improve China market access and meet long-term market demand, including providing MEA supply to our Weichai-Ballard JV. We are thrilled to be partnering with Anting, Jiading District, which has quickly become a key hydrogen technology hub in China.”

Ballard will also be setting up an R&D and innovation center at the same site. The center will be focused on MEA research to achieve key corporate technical advancements, support cost reduction initiatives, and engage the emerging China local supply chain for fuel cell materials and components.

Ballard also announced today that it has signed a non-binding memorandum of understanding with Weichai Power whereby Weichai Power plans to make an equity investment for 2% of Ballard’s new MEA manufacturing company.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning planned operations expansion in China, related investments, product cost and market impacts, and anticipated implementation timeline. These forward-looking statements reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard’s assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard’s actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard’s future performance, please refer to Ballard’s most recent Annual Information Form. 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, other than as required under applicable legislation.

SOURCE Ballard Power Systems Inc.

************************

Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

Deutsche Rohstoff AG: Further joint development with Occidental

USD 75 million additional investments in 2023 and 2024
Positive impact on 2023 forecast
First-time forecast for 2024 assumes Group sales and EBITDA above EUR 100 million

Mannheim. Salt Creek Oil & Gas, a wholly owned subsidiary of Deutsche Rohstoff AG (FRA: DR0), has entered into another joint development agreement with Occidental (NYSE: OXY) in the Powder River Basin/Wyoming. The development is expected to drill 15 additional wells and commence production in 2023 (5 wells) and 2024 (10 wells). The investment volume for Salt Creek totals USD 75 million.

For 2024, the Executive Board expects group sales above EUR 120 million and EBITDA above EUR 100 million. The investments are expected to increase group revenue by approximately EUR 10 million in 2023. This forecast will be specified in the coming months. It is based on an oil price of USD 75, a gas price of USD 4 and a EUR/USD exchange rate of 1.12. Possible drilling programs that are not part of the existing forecast for 2023 are not yet included in this estimate.

For the definition of the term EBITDA, we refer to the homepage of Deutsche Rohstoff AG at www.rohstoff.de/apm/.

Information and Explanation of the Issuer to this announcement:

In February, Salt Creek had already announced a first joint venture with Occidental with an initial investment volume of USD 65 million. The total announced cooperation with Occidental thus amounts to USD 140 million investment in the development of 31 horizontal wells. The first six wells began production in September. A further ten wells will follow in the first half of 2023.

The expanded cooperation with Occidental ensures that the Company not only expects EBITDA of well over EUR 100 million in 2022 and 2023, but that the foundation has already been laid for EBITDA of over EUR 100 million in 2024. Growth potential from further possible development projects in the Group are not included in the forecast for 2023 and especially 2024.

Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold and tungsten round off the portfolio. Further information is available at www.rohstoff.de

Contact

Deutsche Rohstoff AG

Phone +49 621 490 817 0

************************

Valour Inc. Announces $5 Million Private Placement

TORONTO, Oct. 11, 2022 – Valour Inc. (the “Company” or “Valour“) (NEO: DEFI) (GR: RMJR) (OTCQB: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, is pleased to announce a non-brokered private placement financing of up to 25,000,000 units (a “Unit“) at a price of $0.20 per Unit for gross proceeds of up to $5,000,000 (the “Offering“). Each Unit will consist of one common share of the Company and one half of a common share purchase warrant (each whole warrant, a “Warrant“), entitling the holder of a Warrant to acquire one additional common share of Valour at an exercise price of $0.30 for a period of 24 months from issuance.

Closing of the Offering is expected to occur on or about October 25, 2022. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of NEO Exchange approval.

In connection with the Offering, a finder’s fee may be payable in line with the policies of the NEO Exchange. Valour intends to use the proceeds of the Offering for general corporate purposes.

About Valour

Valour Inc. is a technology company bridging the gap between traditional capital markets and decentralized finance. Our mission is to expand investor access to industry-leading decentralized technologies which we believe lie at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation and build and invest in new technologies and ventures in order to provide trusted, diversified exposure across the decentralized finance ecosystem. For more information or to subscribe to receive company updates and financial information, visit https://valour.com

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the Offering; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by Valour and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of DeFi and cryptocurrency sector; rules and regulations with respect to DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE Valour, Inc.

For further information: Investor Relations: Dave Gentry, RedChip Companies Inc., 1-800-RED-CHIP (733-2447), 407-491-4498,

************************