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Technology Stocks : Energy Conversion Devices

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To: WALT REISCH who wrote (3347)3/18/1999 9:21:00 AM
From: jacq  Read Replies (2) of 8393
 
Canada gets into the act.

Hydro-Quebec Committed to Development of Viable Electric Vehicle Industry;
Montreal Project First Ever in Canada
12:55 p.m. Feb 03, 1999 Eastern

NEW YORK, Feb. 3 /PRNewswire/ -- Hydro-Quebec, a leading North American energy provider, announced it is
partnering with government and industry on Canada's first-ever project to encourage the use of electric vehicles
in the greater Montreal area.

The Montreal 2000 Electric Vehicles Project, scheduled to last two years at an estimated cost of US $2 million,
will assist vehicle fleet organizations in acquiring approximately 40 electric vehicles for regular use in their fleets.
Hydro-Quebec will supply recharging stations to participating organizations for the duration of the project.

The Montreal 2000 Electric Vehicles Project will consist of four parts: a purchase assistance program, a program
to develop a recharging infrastructure, a research project to study the benefits of electric vehicles and a user
support program. It is estimated that the use of electric vehicles will help reduce CO2 emissions by more than 3.8
tons per vehicle per year.

"In terms of greenhouse gas emissions reduction, this project delivers a double whammy," says Serge Roy,
Hydro-Quebec's project manager for Electric Transportation and Board member the Electric Vehicle Association
of the Americas (EVAA).

"First, the use of electric vehicles will result in significant greenhouse gas emissions reduction; second, the
electricity supplied by the recharging stations will be generated through hydropower, which does not produce
CO2. Due to Hydro-Quebec's reliance on hydropower, the province's per capita CO2 emissions are about half of
what they are in the United States. The Montreal 2000 Electric Vehicles Project is yet another important step in
the right direction," concluded Mr. Roy.

In addition to Hydro-Quebec, other partners in the project include the Governments of Canada and Quebec,
Norvik Traction and the Quebec-based Center for Experimentation on Electric Vehicles (CEVEQ).

Hydro-Quebec is a publicly owned utility with a total available capacity of 37,000 MW, serving 3.4 million
customers in the province of Quebec. It trades electricity with neighboring systems in Canada and the United
States, and is a member of the Northeast Power Coordinating Council and the Electric Vehicle Association of the
Americas. Hydro-Quebec reported assets of US$40 billion and revenue close to US$6 billion in 1997. SOURCE
Hydro-Quebec

Copyright 1999, PR Newswire
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