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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells -- Ignore unavailable to you. Want to Upgrade?

To: Mike Klobouk who wrote (4307)	8/3/1999 6:15:00 PM
From: KS	Read Replies (1) \| Respond to of 5827

August 03, 1999 18:04 Ballard Acquires Additional Direct Methanol Fuel Cell Intellectual Property Rights VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 3, 1999-- Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD.) announced today receipt of a worldwide, non-exclusive license to direct methanol fuel cell (DMFC) intellectual property from the California Institute of Technology (Caltech) and the University of Southern California (USC) through DTI Energy, Inc. which holds exclusive licensing rights to the intellectual property. The license is based on technology developed at the Jet Propulsion Laboratory of Caltech and the Loker Hydrocarbon Research Institute at USC. Ballard also acquired the right to sublicense the intellectual property to its alliance members under certain conditions. In a DMFC, methanol is fed directly into the proton exchange membrane (PEM) fuel cell as the fuel, rather than passing first through a fuel processor in which it is converted into a hydrogen-containing fuel stream. The resulting benefits are a less complex PEM fuel cell system and lower volume, lower weight and ultimately, lower cost. "Ballard's license of this DMFC intellectual property enhances our position in the DMFC area," said Kip Smith, President and Chief Operating Officer of Ballard. "This strategic move supports our position as the world leader in the development of next generation PEM fuel cell technology and is an important step toward consolidating our ongoing DMFC research and development." Ballard Power Systems is the world leader in developing, manufacturing and marketing zero-emission PEM fuel cells for use in transportation, electricity generation and portable products. Ballard Power Systems' proprietary fuel cell technology is enabling automobile, electrical equipment and portable power product manufacturers to develop environmentally clean products for sale. The fundamental component of these end-user products is the Ballard(R) fuel cell that combines hydrogen (which can be obtained from methanol, natural gas or petroleum) and oxygen (from air) without combustion to generate electricity. Ballard is partnering with strong, world-leading companies including DaimlerChrysler, Ford, GPU International, ALSTOM and EBARA to commercialize Ballard fuel cells. Additional customers using Ballard fuel cells include General Motors, Honda, Nissan, Volkswagen, Volvo, Yamaha, Matsushita Electric Works, and Cinergy. CONTACT: Ballard Power Systems Inc. Michael Rosenberg, 604/ 412-3195 604/ 412-3100 (FAX) Email: investors@ballard.com or Ballard Power Systems Inc. Debby Roman, 604/ 412-4740 604/ 412-3100 (FAX) Website: www.ballard.com