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

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To: BMWIN who wrote (2602)	5/20/1998 10:32:00 AM
From: David E. Smith	Read Replies (2) of 5827

More detail, same news, newswire source: Dow Jones Newswires -- May 20, 1998 Ballard Power Says Japan's Ebara To Invest $15M In Unit VANCOUVER (Dow Jones)--Ballard Power Systems Inc. (BLDPF) said its Ballard Generation Systems subsidiary has signed a detailed memorandum of understanding with EBARA Corp. (J.EBA) of Japan to create a joint-venture company with exclusive rights to market and manufacture Ballard's PEM fuel-cell stationary power plants for the Japanese market. In a press release, Ballard said the agreement with EBARA is subject to the completion of formal documentation and regulatory approvals. It said EBARA will invest US$15 million for a 5.2% interest in Ballard Generation Systems and two 250 kW Ballard Fuel Cell power plants for field testing in Japan. As well, it said Ballard Generation and EBARA will jointly invest US$16 million to form a new company in Japan to sell, distribute, and later make PEM fuel-cell power plants. It said the initial investment in this venture consists of US$8.16 million from EBARA for a 51% interest, and US$7.84 million from Ballard Generation for a 49% interest. Ballard Power said this partnership with EBARA 'will play a significant role in developing markets for Ballard Fuel Cell stationary power plant products." Ballard Generation Systems was formed as a venture between Ballard Power and GPU International Inc. (GPU) of New Jersey in December 1996. In December 1997, Ballard Generation Systems signed a detailed memorandum of understanding with GEC ALSTHOM NV (N.GEC) of France to bring manufacturing and marketing expertise into the Company. Ballard Power is developing proton exchange membrane fuel cell power systems.

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