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

To: BMWIN who wrote (2742)	6/12/1998 9:02:00 AM
From: riposte	Read Replies (1) \| Respond to of 5827

Ballard Announces Change in Senior Management Friday June 12, 3:13 am Eastern Time Company Press Release Ballard Announces Change in Senior Management VANCOUVER, British Columbia--(BUSINESS WIRE)--June 12, 1998-- BALLARD POWER (TSE:BLD. - news; NASDAQ:BLDPF - news) Ballard Power Systems announced today that Mr. Mossadiq S. Umedaly has tendered his resignation as the Company's Vice President and Chief Financial Officer. Mr. Umedaly joined Ballard at the beginning of 1990. Since that time, Ballard has evolved from a small development company into the world leader in PEM fuel cells. For nine successful years, Mr. Umedaly was a key part of the team that developed, and executed, Ballard's commercialization strategy. As Ballard is making the transition to a manufacturing company and management roles evolve, he has chosen this time to resign. During the transition period resulting from his departure, Mr. Umedaly will assist in the transition and will continue to make available his expertise to Ballard. Pending the selection of a permanent replacement, Paul Lancaster, Ballard's Treasurer, has been appointed acting Chief Financial Officer. ''Mossadiq is a colleague and friend whom I have worked closely with for many years. Together with the management team, we have faced and overcome many challenges as we developed and executed Ballard's commercialization plan,'' said Firoz Rasul, Ballard's President and Chief Executive Officer. ''I respect Mossadiq's desire to take this opportunity to step back and pursue other challenges as Ballard evolves into a manufacturing company. Ballard has the necessary management depth, and as we continue to add resources to build broad capabilities throughout the Company, we will complete the transition with a minimum of disruption.'' ''Working to make Ballard a success has been very challenging and the most enjoyable period of my career. The Company has the depth of people and clarity of strategy to meet the challenges ahead and the time is right for me to spend time with my family and consider other opportunities. I have confidence in the team that I have worked hard to help develop at Ballard and their ability to succeed in the years ahead. Building companies and creating value is, and will continue to be, a key part of my life,'' said Mossadiq Umedaly. 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.

To: BMWIN who wrote (2742)	6/13/1998 12:06:00 PM
From: BMWIN	Read Replies (1) \| Respond to of 5827

Some interesting views: ucsusa.org

To: BMWIN who wrote (2742)	6/15/1998 4:05:00 PM
From: BMWIN	Respond to of 5827

It's interesting. The following was posted on newspage.com TOKYO --Japan's Toyota Motor Corp. on Friday denied a newspaper report that the automaker has agreed with General Motors Corp. of the U.S. to develop jointly a range of technologies aimed at protecting the environment.

To: BMWIN who wrote (2742)	6/15/1998 4:10:00 PM
From: BMWIN	Read Replies (1) \| Respond to of 5827

More from interactive.wsj.com TOKYO (Dow Jones)--Japan's Toyota Motor Corp. (TOYOY or 7203) on Friday denied a newspaper report that the automaker has agreed with General Motors Corp. (GM) of the U.S. to develop jointly a range of technologies aimed at protecting the environment. But Toyota said the two automakers stand by their earlier announcement that they plan to cooperate in developing an inductive charging system for electric vehicles. Citing sources at Toyota, the Nihon Keizai Shimbun reported in its Friday morning edition that Toyota and General Motors have agreed to develop technologies ranging from fuel cells for advanced low-pollution vehicles, to methods for curbing carbon dioxide emissions and reducing noise and greenhouse gases, to vehicle recycling. "There has been absolutely no agreement" between Toyota and GM to cooperate in such diverse environment-related technologies, said a Toyota spokeswoman. But she said the two automakers have been collaborating in many areas, including the planned development of an inductive charging system. As reported earlier in June, Toyota and GM said they will jointly develop an inductive charging system for electronic vehicles based on the latter's Magne-Charge inductive technology.