Ballard Power Systems and Ford Power Products Unveil the World's First Hydrogen Generator Set.Business Editors & Automotive Writers DEARBORN, Mich.--(BUSINESS WIRE)--Aug. 7, 2002 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. (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) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BLD BLD Build BLD Blood BLD Blade BLD Blonde BLD Breakfast Lunch Dinner BLD Bukas-Loob Sa Diyos (Filipino: Open In Spirit To God) BLD BASIC Bload Graphics (File Name Extension) BLD Below Limit of Detection ) and Ford Power Products, the powertrain sales office of Ford Motor Company, today jointly introduced and demonstrated Ballard's Ecostar(TM) hydrogen generator set ("genset"), the world's first hydrogen fueled 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. driven genset. The Ecostar(TM) hydrogen genset will be the cleanest combustion generator on the market. This environmental profile makes the genset an attractive alternative to small turbines or combustion engines using other fuels. The initial market for this product will be utilities for peak power applications. "Working with Ford Power Products, we are proud to demonstrate Ballard's leadership in the introduction of revolutionary, clean, power generation solutions," said Ross Witschonke, Vice President and General Manager of Ballard's Electric Drives & Power Conversion Division. "In addition to providing our customers with clean, siteable power, this new product will provide Ballard with early revenue opportunities, will increase public awareness of alternative fuels and power solutions and assist in the development of a hydrogen infrastructure." The Ecostar(TM) hydrogen genset is capable of producing 114 kVA of power at several voltage levels and phase options and is based upon a standard 6.8-liter Ford production engine that has been modified and warranted by Ford Power Products for hydrogen use. Commercial production of the hydrogen genset will begin in the fourth quarter of 2002. "The adaptation from a research and development proof-of-concept engine to a production ready design was a short 12 months, a tribute to our team, development partner Ballard and suppliers," said Paul Moore The Right Reverend Paul Moore, Jr. (November 15, 1919 - May 1, 2003) was a bishop of the Episcopal Church and served as the 13th Bishop of New York. Ordination Bishop Moore was ordained in 1949 after attending General Theological Seminary in New York City. , Director of Operations and Sales for Ford Power Products. The Ecostar(TM) hydrogen genset joins the natural gas fueled genset introduced by Ballard three weeks ago, as the second product in the family of gensets introduced by Ballard using Ford Power Products engines. Additional Ecostar(TM) gensets, providing cost effective solutions to customers, enhanced performance and a superior environmental profile, are expected to be introduced over the next few years. Ford Power Products supplies and markets Ford powertrains for use in non-automotive applications. Since 1947, it has been a global leader in providing superior value in power systems and service for industrial, marine and on-highway Original Equipment Manufacturers (OEMs). Ford Power Products' strategy includes a strong position in emerging fuels and emissions technology. A photograph of the Ecostar(TM) hydrogen genset is available on Ballard Power Systems' website at www.ballard.com or on Ford Power Products' website at www.fordpowerproducts.com. This release contains forward-looking statements that are based on the beliefs of Ballard's management and reflect Ballard's current expectations as contemplated under the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. When used in this release, the words "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", the negative of these words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of Ballard with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements. Ballard Power Systems is recognized as the world leader in developing, manufacturing and marketing zero-emission 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. fuel cells. Ballard is commercializing fuel cell engines for transportation applications and fuel cell systems for portable and stationary products ranging from 1 kilowatt to 250 kilowatts. Ballard is also commercializing electric drives for fuel cell and battery-powered electric vehicles, power conversion products for fuel cells, natural gas and hydrogen generator sets and other distributed generation products, and is a Tier 1 automotive supplier of friction materials for powertrain components. Ballard's proprietary technology is enabling automobile, bus, electrical equipment, portable power and stationary product manufacturers to develop environmentally clean products for sale. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, EBARA, ALSTOM and FirstEnergy, to commercialize BALLARD(R) fuel cells. Ballard has supplied fuel cells to Honda, Nissan, Volkswagen, Yamaha, Cinergy, Coleman Powermate and 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. , among others. 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 Trading symbol See: Ticker symbol "BLD" and on the Nasdaq National Market System under the symbol "BLDP". Ballard, the Ballard logo and Power to Change the World are registered trademarks of Ballard Power Systems Inc. Ecostar is a registered trademark of Ballard Power Systems Corp. Ford Power Products, the Ford Power Products logo and The Source for Power...Worldwide are registered trademarks of Ford Motor Company. |
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