Ballard Power -world leader zero-emission PEM fuel cells Message Board

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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells

BLDP 3.550

-3.0%

Nov 6 3:59 PM EST

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To: blue_chip who wrote (5014)	2/18/2000 3:19:00 PM
From: Hawkeye	Read Replies (2) of 5827

Friday February 18, 2:45 pm Eastern Time Ballard shares soar on hopes for fuel cells CALGARY, Feb 18 (Reuters) - Shares of alternative energy companies surged on Friday as the industry -- which develops technology to comply with pending environmental legislation -- competes with the biotechnology sector in luring investors who got rich from Internet stocks. Ballard Power Systems Inc. (Toronto:BLD.TO - news) rose C$14.95 to C$144.70 in midday trading on the Toronto Stock Exchange. The Vancouver company is seen as the industry leader in fuel cells, which proponents say will eventually provide power for everything from cellular phones to automobiles and homes, generate power electrochemically from hydrogen or natural gas without combustion and produce less harmful emissions than gasoline. ''Ballard is the dominant player in the auto market,'' said Peter Tertzakian, an industry analyst with brokerage Goepel McDermid in Calgary. ''The alternative energy industry is in its infancy. It's undergoing similar structural changes now that the telecom industry went through in 1992,'' he said. He said he expects investors to chase share prices of energy technology firms even higher in the coming months because there are so few companies in the sector. ''The cost barriers to entry in the sector are high and there aren't enough shares to fill the demand,'' said Tertzakian. Ballard's biggest competitor is Plug Power Inc. (NasdaqNM:PLUG - news) of New York whose shares surged 15 percent on Monday after the company said it had successfully run a proton exchange membrane (PEM) fuel cell for more than 10,000 hours. The stock was up 3 1/4 at 132 on Nasdaq. ($1=$1.45 Canadian)

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