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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 (4587)	11/30/1999 8:02:00 AM
From: Scoobah	Respond to of 5827

Ballard's Rasul on Nonpolluting Fuel Cells: Company Comment Tokyo, Nov. 30 (Bloomberg) -- Firoz Rasul, chairman and CEO of Ballard Power Systems Co., a developer of nonpolluting fuel cells for generators, cars and buses, made the following comments at a Tokyo press conference. On fuel cells: ``Fuel cells were invented 150 years ago, not by a scientist, but by a lawyer, and were used in the NASA space program. Ballard now has started developing technology to be used not only in space, but in daily life.' ``Fuel cells are made out of simple things, like the membrane electric assembly, hydrogen, air, flow field plate.' ``Fuel cells will have to have more efficiency, customer benefits, and be good for the environment.' ``Many, many automakers are developing fuel cell cars, that's important because that's the creation of an industry. There is a revolution of technology.' ``Some of the challenges include lower costs, increase reliability and durability.' ``We have a very strong technology foundation and this is our asset. We hope to set standards for others to follow and be the first to market. I am convinced that the fuel cell will change the world. ' The world's automakers are developing more efficient engines as governments, particularly in Europe, adopt tougher environmental rules. Fuel cells are currently too expensive to make sense for use in the average Ford Taurus or Mercedes sedan. British Columbia-based Ballard makes fuel cells that generate electricity by combining hydrogen atoms from fuel with oxygen atoms from the air, creating water and heat as byproducts. Electricity from the cells can be used to power a car, without the limited range and speed of electric vehicles that have to be plugged in and recharged every few hours. DaimlerChrysler AG owns 20 percent of Ballard and Ford Motor Co. has a 15 percent stake. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.