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

To: HarveyO who wrote (4383)	10/8/1999 9:41:00 AM
From: HarveyO	Respond to of 5827

(BLD.) Ballard Receives $3.9-Million Order from Honda for Fuel Cells VANCOUVER, British Columbia, Oct 8, 1999 (BUSINESS WIRE) -- Ballard Power (Nasdaq:BLDP) (TSE:BLD.) Ballard Power Systems announced today that it has received a $3.9-million order (US$2.6 million) from Honda R&D Co., Ltd. of Saitama, Japan, a subsidiary of the Honda Motor Company, to supply Ballard(R) fuel cells, related equipment and support services. Honda will use the Ballard fuel cells in its research and development program for evaluation and development of fuel cell powered electric vehicles. "This order for Ballard fuel cells reflects Honda's continued commitment to their aggressive fuel cell vehicle development and commercialization program," said Firoz Rasul, Chairman and Chief Executive Officer of Ballard Power Systems. "This is one example of the progress being made toward the commercial use of fuel cells in automobiles." 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 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. Ballard has also supplied fuel cells to General Motors, Nissan, Volkswagen, Yamaha, Cinergy and Matsushita Electric Works.