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

To: William Peavey who wrote (3702)	1/20/1999 4:23:00 PM
From: Hawkeye	Read Replies (1) \| Respond to of 5827

Ballard Receives $3.5 Million Order from Nissan for Fuel Cells VANCOUVER, BRITISH COLUMBIA--Ballard Power Systems announced today that it has secured a $3.5 million contract (US$2.3 million) from Nissan Motor Co. Ltd., Japan, to supply Ballard Fuel Cells, related equipment and support services. Nissan will use the Ballard Fuel Cells in their research and development program for evaluation and development of fuel cell powered electric vehicles. "Nissan has been a customer of Ballard since 1991, and we are pleased to strengthen our relationship with this additional order for Ballard Fuel Cells," said Firoz Rasul, President and Chief Executive Officer of Ballard. "Nissan is a leader in alternative propulsion technology and we are delighted to be supplying them with Ballard Fuel Cells for their strong fuel cell vehicle development program." "Nissan sees this ongoing relationship with Ballard as further proof of our continuous efforts to achieve a harmonious coexistence of people, automobiles and nature - a philosophy the company calls Symbosis," said Dr. Milio Ura, General Manager, research Planning and Promoting Department, Nissan Research Center. "Using Ballard Fuel Cells in our program will advance us along the path to the next generation of clean, efficient propulsion systems." Ballard Power Systems is the world-leader in developing, manufacturing and marketing zero-emission proton exchange membrane (PEM) fuel cells for use in transportation, electricity generation and portable products. Ballard Power Systems' proprietary fuel cell technology is enabling automobile, electrical equipment and portable power product manufacturers to develop and sell environmentally clean products. The critical component of these end-user products is the Ballard Fuel Cell that combines hydrogen (which can be obtained from methanol, natural gas or petroleum) and oxygen (from air) without combustion to generate electricity. Ballard is partnering with strong, world-leading companies including DaimlerChrysler, Ford, GPU International, ALSTOM and EBARA to commercialize the Ballard Fuel Cell. Additional customers using the Ballard Fuel Cell include General Motors, Nissan, Honda, Volkswagen, Volvo, Matsushita Electric Works, and Cinergy. Ballard's Common shares are listed on The Toronto Stock Exchange under the trading symbol "BLD" and on the Nasdaq National Market System under the symbol "BLDPF". -30- FOR FURTHER INFORMATION PLEASE CONTACT: Ballard Power Systems Inc. Michael Rosenberg Investor Information (604) 412-3195 (604) 412-3100 (FAX) Email: investors@ballard.com Website: www.ballard.com or Ballard Power Systems Inc. Debby Roman Media Information (604) 412-4740 (604) 412-3100 (FAX) Email: debrom@ballard.com