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Investor Presentaiton

36 PEM differentiated amongst other fuel cell technologies1 Proton Exchange Membrane (PEM) • Primary applications: transportation, stationary & back-up power • • Advantages: high power density, low operating temp (50-100°C), durable, quick start, compact Challenges: sensitivity to fuel impurity • Fuel: hydrogen Solid Oxide • Primary applications: stationary power • . Advantages: high efficiency, fuel flexibility Challenges: high operating temp (500-1,000°C), slow start up, large footprint, not necessarily zero-emissions (fuel dependent), sensitive to load variation • Fuel: natural gas, syn gas, hydrogen Small footprint (if hydrogen is used) PEM Solid Oxide Alkaline × Low operating temp High efficiency ✓ Quick start-up Alkaline Cell durability Primary applications: aerospace, back-up power Fuel • Advantages: low operating temp (90-100°C), quick start, electrolyte management flexibility × • Challenges: sensitive to CO2 on fuel and sir • Fuel: hydrogen Complexity/ Fabrication 1 See Slide Notes BALLARD™
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