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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells
BLDP 2.140+5.4%Feb 6 9:30 AM EST

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To: Garth Richmond who wrote (649)4/19/1997 9:03:00 AM
From: zigler   of 5827
 
Ballard joins Ford to develop clean car

Ottawa is expected to kick in $8-million

Saturday, April 19, 1997
By Greg Keenan
Auto Industry Reporter

Ballard Power Systems Ltd. is linking up with the federal government and Ford Motor Co. of Detroit to play a key role in developing Ford's entry in the U.S. program to develop a superefficient,
environmentally friendly car, sources say.

They said Ottawa is expected to kick in about $8-million to help Vancouver-based Ballard develop the power plant for Ford's entry in the Partnership for a New Generation of Vehicles (PNGV) program.

The PNGV is a partnership between the U.S. government and the Big Three North American auto makers to develop a family sedan with three times the fuel efficiency of today's cars, but with the same performance, safety and affordability.

Under the program, each of the three companies will produce a concept vehicle between 1998 and 2000 and, by 2004, a prototype that's close to being able to go into production.

Federal Natural Resources Minister Anne McLellan has scheduled a news conference for Monday at Ford Motor Co. of Canada Ltd. headquarters in Oakville, Ont., to announce federal participation in a research and development project to create a fuel cell for automotive use.

Ms. McLellan is expected to announce a partnership between Ottawa and Ballard, said a source familiar with the deal.

Ballard's fuel cells convert natural gas, methanol or hydrogen fuel into electricity without combustion.
The only byproduct is a harmless water-vapour exhaust. The company says the cells are much more efficient than standard fossil-fuel-burning car engines.

Besides developing fuel-efficient, environmentally friendly vehicles, the PNGV program is also an attempt to develop cutting-edge technologies for the 21st century.

Although the dollar amount is small, the move would be another significant step for Ballard, which is already on a roll this week after the announcement that Daimler-Benz AG of Germany will buy a
significant stake in the company.

Ballard has already been the recipient of government assistance--$8.6-million from the B.C. government a year ago and another $30-million repayable contribution from Ottawa last fall.

The key question for Ballard and the Big Three is whether they can mass produce these kinds of leading-edge vehicles cheaply enough to make them acceptable to consumers.
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