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

To: Scoobah who wrote (4497)	11/4/1999 1:37:00 PM
From: Hawkeye	Respond to of 5827

Thursday November 4, 9:30 am Eastern Time Company Press Release Legislation in California Passes to Allow ZEV/ILEV Vehicles with 1 Person in Carpool Lanes CHULA VISTA, Calif.--(BUSINESS WIRE)--Nov. 4, 1999--Electric vehicles and other extremely clean cars that meet the federal ILEV (inherently low emission vehicle) standard will have access to carpool lanes with only one occupant throughout California beginning July 1, 2000. BAT International wants to thank those shareholders that wrote letters in support of the legislation to the author of the legislation, Assembly Member Jim Cunneen. Governor Grey Davis signed the bill into law on Sept. 7, 1999. The law sends an important message about the legislative and executive branch support for zero and very low emissions vehicles by providing non-monetary incentives. Time is a very valuable commodity to some consumers who are unable or unwilling to carpool but may buy a zero emission or ILEV vehicle. This legislation will make electric and other super-clean vehicles more visible to the public and help build consumer demand. California, New York and Massachusetts all have zero emissions vehicle (ZEV) mandates that require 10% of new cars sold to be zero emissions or equivalent zero emissions. The ability to zip by others in a carpool lane during heavy traffic will make these vehicles very attractive to some buyers and insure the success of zero emission vehicle mandates. Management at BAT was involved in drafting the original legislation that was circulated to the Legislature back in 1994 and 1995. Two previous attempts to introduce the legislation have failed. BAT International finds it very gratifying to see the legislation get passed into law and provide a model for other market incentive type legislation in other states. Several other bills have also been signed into law this legislative session including: -- AB 1571 provides direction for administration of certain ARB funds including funding eligibility for electric charging infrastructure -- SB 98 extends to 2010 funding authorization for South Coast AQMD clean fuels/advanced technology programs, including a $1/vehicle registration fee with funds earmarked for programs to reduce emissions -- SB 826 provides additional flexibility for use of Bay Area AQMD funds, including demonstration of ZEVs -- AB 18 places on the ballot a bond act to provide $2 billion for safe parks, clean air and clean water, including funds for purchase of low emission or advanced technology vehicles -- SB 441 and SB 186 provide direction on use of low speed electric vehicles and electric scooters BAT International and its subsidiary or affiliated companies are involved in the development of numerous technologies that will benefit from the increased demand generated from these legislative initiatives. This includes electric vehicle batteries, electric bicycles and scooters, fuel cells and biodiesel fuel. BAT will be evaluating what steps can be taken in other states to introduce similar legislation that will help support expanded use of zero emission and low emission vehicles. BAT International is organized as a holding company with major ownership position in a set of subsidiary companies now commercializing advanced automotive and energy technology products developed by BAT. Technologies developed over the last eight years include electric vehicles, composite chassis, super-efficient or high power engines, electric bicycles and scooters, advanced batteries, lubricant additives, and electric power generation (for information, see BAT Web site at www.baat.com). This press release contains forward-looking statements that should not be used to make an investment decision. Please refer to our Web site and other sources for more detailed company information (Investor Relations, 619/409-8977).