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

To: Trader Bob who wrote (1741)	2/17/1998 10:23:00 AM
From: HarveyO	Read Replies (1) \| Respond to of 5827

Here's the rest of the Press Release. US$1.625m order for fuel cell stationary power plant Ballard Power Systems Inc BLD Shares issued 23,083,665 Feb 16 close $107.75 Tue 17 Feb 98 News Release Mr Paul Lancaster reports The company's subsidiary Ballard Generation Systems has received a purchase order from Cinergy Technology for a 250 kW class natural gas fuel cell power plant for US$1.625 million (C$2.275 million). This power plant will be the first field trial unit manufactured by Ballard Generation Systems and it is scheduled for delivery in mid-1999. Ballard Power Systems will supply the fuel cell used in the power plant. This order is an important event for Ballard Generation Systems as it evolves from development to manufacturing of stationary power plants for commercial use. Cinergy, a long time collaborator with Ballard, will install the first field trial unit of BGS's 250 kW class stationary power plant which will provide important test and operational data to the company. From the collaboration between Cinergy and the US government on this project, both the public and private sectors will gain a better understanding of how PEM fuel cell power plants can help meet a wide variety of power requirements. Ballard Generation Systems was formed as a venture between Ballard Power Systems and GPU International of New Jersey in December 1996. In December 1997, Ballard Generation Systems signed a detailed memorandum of understanding with GEC ALSTHOM NV of France to bring manufacturing and marketing expertise into the company. Upon completion of the investment by GEC ALSTHOM, the ownership of Ballard Generation Systems will be 63.8% Ballard Power Systems, 21.4% GEC ALSTHOM, and 14.8% GPU International. Cinergy Technology is a subsidiary of Cinergy Corp and an affiliate of PSI Energy. Cinergy is one of the nation's largest diversified energy companies with holdings in the US and internationally