Ballard Enters Exclusive Collaboration and Supply Agreement with Graphite Product Manufacturer UCAR.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 7, 1999-- Ballard Power (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BLDP BLDP Ballard Power Systems (stock symbol) )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BLD) Ballard Power Systems Ballard Power Systems (TSX: BLD, NASDAQ: BLDP), located in Burnaby, British Columbia -- a suburb of Vancouver -- is a company that designs, develops, and manufactures zero emission proton-exchange-membrane fuel cells. announced today that it has signed a long-term agreement with UCAR International Inc. for the joint development and exclusive supply of GRAFOIL(R) Flexible Graphite for Ballard(R) fuel cells. Flexible graphite is a key material in the manufacture of flow field plates for fuel cells. "As the world leader in proton exchange membrane A proton exchange membrane (PEM) is a semipermeable membrane generally made from ionomers and designed to conduct protons while being impermeable to gases such as oxygen or hydrogen. (PEM) fuel cell technology, Ballard is establishing development and supply agreements with partners who meet our standard of excellence. GRAFOIL(R) is an exceptionally high-quality product," said Kip Smith, Ballard's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "This agreement further supports the work we have been doing with UCAR since 1992 to improve the product while ensuring Ballard has a stable supply of this material as we prepare for volume manufacturing." "Our strategic alliance with Ballard is an exciting opportunity for our flexible graphite business," said Gilbert E. Playford, UCAR's President and Chief Executive Officer. "We believe this alliance together with our proprietary products and process technology help position us over the long term to be a major supplier of a key raw material for PEM fuel cells. We also believe the PEM fuel cells will offer a competitive alternative to the internal combustion engine Internal combustion engine A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. for use in transportation, stationary and portable power applications." Flow field plates help direct the movement of hydrogen and oxygen molecules within the fuel cell, disperse waste heat, and capture and transmit the electricity carried by the fuel cell. UCAR has developed proprietary materials that Ballard uses in flow field plates made of flexible graphite sheets. These materials offer high electrical conductivity and are lightweight and cost effective. UCAR International Inc. is one of the world's leading manufacturers of graphite and carbon products for industrial applications in a diverse array of industries: metal production, electronics, chemicals, aerospace and transportation, among others. Ballard Power Systems is the world leader in developing, manufacturing and marketing zero-emission 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 environmentally clean products for sale. The fundamental component of these end-user products is the Ballard(R) 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 Ballard fuel cells. Additional customers using Ballard fuel cells include General Motors, Honda, Nissan, Volkswagen, Yamaha, Matsushita Electric Works Matshushita Electric Works (MEW), Ltd. can trace its beginnings to a company that was founded in 1918 by Konosuke Matsushita. Matshushita began making the flashlight components for bicyles, then progressed to making lighting fixtures. , and Cinergy. Ballard's Common shares are listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbol "BLD" and on the Nasdaq National Market System under the symbol "BLDP". Note to Editors: Ballard and the Ballard logo are registered trademarks of Ballard Power Systems Inc. |
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