$11.6 million order from GEC ALSTHOM
Ballard Power Systems Inc BLD
Shares issued 23,083,665 May 29 close $147.00
Mon 1 Jun 98 News Release
Mr. Paul Lancaster reports
Ballard Power Systems' subsidiary, Ballard Generation Systems, has received
a $11.6-million order from GEC ALSTHOM for four 250 kW class natural gas
fuel cell power plants, including training and support. These power plants
will be part of a series of field trial units manufactured by Ballard
Generation Systems and delivered during 1999 and 2000. Ballard Power
Systems will supply the fuel cells for all power plants.
"The purchase of these four field trial units will allow GEC ALSTHOM and
its customers to gain a greater understanding of PEM fuel cell power plant
operations. The implementation of these field test power plants into the
existing infrastructure at customer sites is important for the further
development of the product," stated Robert Mahler, managing director,
transmission and distribution division, GEC ALSTHOM.
"This order is an important event for Ballard Generation Systems as it
evolves from product development to manufacturing of stationary power
plants for commercial use," said Scott Weiner, president of Ballard
Generation Systems. "Together with prior orders from GPUI, Cinergy, and
EBARA, this order from GEC ALSTHOM, provides Ballard Generation Systems
with an order backlog which is a solid foundation on three continents for
our field trial program. The field trials are intended to provide real
world experience which will be incorporated in the design of the commercial
product to be introduced in 2001."
Ballard Generation Systems is a venture between Ballard Power Systems, GEC
ALSTHOM, and GPU International.
GEC ALSTHOM is a world leader in the design, manufacture, supply and
installation of equipment, systems and complete solutions for the power
generation and transmission industries and for rail transport.
Headquartered in France, the company is established internationally, with a
total of 110,000 employees in 60 countries. GEC ALSTHOM had pro forma
revenues of approximately $15.7-billion (U.S.) in 1997/98.
GPU International is the non-regulated arm of GPU Inc., a major
international electric company based in New Jersey. GPU serves a worldwide
population of over 13 million people with 4.4 million customers in 12
countries. It had 1996 revenues of over $3.9-billion (U.S.) and assets
close to $10-billion (U.S.).
Ballard Power Systems is the world leader in the development of proton
exchange membrane fuel cell power systems. At the heart of its products is
the Ballard fuel cell, a proprietary zero emission engine that converts
natural gas, methanol, gasoline, or hydrogen fuel into electricity without
combustion. Ballard fuel cells are currently being used by leading
international companies including Daimler-Benz, Ford, General Motors,
Chrysler, Nissan, Hitachi, Honda, Mazda, Volkswagen, Volvo, Matsushita
Electric Works, GPU International, GEC ALSTHOM, EBARA, and Cinergy to
develop zero emission engines for vehicles and clean stationary power
plants.
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