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Technology Stocks : Ballard Power (BLDPF) - The Holy Grail

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To: Kayaker who wrote (7)	3/16/1998 10:21:00 PM
From: Urlman	of 26

INDUSTRY REPORT:Ford and Mobil to Develop Fuel Cell Technology March 10, 1998 LENGTH: 245 words Ford Motor Company and Mobil Corporation last week announced a joint agreement to develop and integrate cleaner and more efficient fuel technologies. "We look forward to this alliance with Ford," said Lucio Noto, chairman and CEO of Mobil. "It offers great potential to develop new hydrocarbon-based fuels and power sources which could be of significant benefit to both the traveling public and the environment." The project will focus on the development of a commercially viable compact fuel processor for fuel cell- powered vehicles. Ford hopes the alliance will support existing fuel cell agreements with Daimler-Benz and Ballard Power Systems, and that both these partners will be involved. "We wanted to participate in the promising development of fuel processor technology so the motoring public will benefit from the most fuel efficient, lowest environmental impact technology," said Noto. "We were very much impressed with the work that Ford and its alliance partners have been doing on fuel cell-based powertrains." Spokesmen for both companies said the alliance will set near-, immediate-, and long-term goals for the advancement of automotive fuel and powertrain technology. Ultimately, the project is designed to create a wider market for alternative-fuel vehicles and produce big gains in vehicle fuel efficiency and emissions reductions. (FWN: 3/5) = = = = = = = = COPYRIGHT 1998 Environmental Information Networks, Inc.

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