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

To: David E. Smith who wrote (2665)	6/1/1998 12:06:00 PM
From: HarveyO	Read Replies (2) \| Respond to of 5827

$11.6 million order from GEC ALSTHOM Ballard Power Systems Inc BLD Shares issued 23,083,665 May 29 close $147.00 Mon 1 Jun 98 News Release Mr. Paul Lancaster reports Ballard Power Systems' subsidiary, Ballard Generation Systems, has received a $11.6-million order from GEC ALSTHOM for four 250 kW class natural gas fuel cell power plants, including training and support. These power plants will be part of a series of field trial units manufactured by Ballard Generation Systems and delivered during 1999 and 2000. Ballard Power Systems will supply the fuel cells for all power plants. "The purchase of these four field trial units will allow GEC ALSTHOM and its customers to gain a greater understanding of PEM fuel cell power plant operations. The implementation of these field test power plants into the existing infrastructure at customer sites is important for the further development of the product," stated Robert Mahler, managing director, transmission and distribution division, GEC ALSTHOM. "This order is an important event for Ballard Generation Systems as it evolves from product development to manufacturing of stationary power plants for commercial use," said Scott Weiner, president of Ballard Generation Systems. "Together with prior orders from GPUI, Cinergy, and EBARA, this order from GEC ALSTHOM, provides Ballard Generation Systems with an order backlog which is a solid foundation on three continents for our field trial program. The field trials are intended to provide real world experience which will be incorporated in the design of the commercial product to be introduced in 2001." Ballard Generation Systems is a venture between Ballard Power Systems, GEC ALSTHOM, and GPU International. GEC ALSTHOM is a world leader in the design, manufacture, supply and installation of equipment, systems and complete solutions for the power generation and transmission industries and for rail transport. Headquartered in France, the company is established internationally, with a total of 110,000 employees in 60 countries. GEC ALSTHOM had pro forma revenues of approximately $15.7-billion (U.S.) in 1997/98. GPU International is the non-regulated arm of GPU Inc., a major international electric company based in New Jersey. GPU serves a worldwide population of over 13 million people with 4.4 million customers in 12 countries. It had 1996 revenues of over $3.9-billion (U.S.) and assets close to $10-billion (U.S.). Ballard Power Systems is the world leader in the development of proton exchange membrane fuel cell power systems. At the heart of its products is the Ballard fuel cell, a proprietary zero emission engine that converts natural gas, methanol, gasoline, or hydrogen fuel into electricity without combustion. Ballard fuel cells are currently being used by leading international companies including Daimler-Benz, Ford, General Motors, Chrysler, Nissan, Hitachi, Honda, Mazda, Volkswagen, Volvo, Matsushita Electric Works, GPU International, GEC ALSTHOM, EBARA, and Cinergy to develop zero emission engines for vehicles and clean stationary power plants.