Ballard Power Systems and Victrex plc Announce Alliance for the Development and Manufacture of Ionomers for Ballard Fuel Cells.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 22, 2001 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) )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BLD.) and Victrex plc announced today that they have entered into an exclusive agreement to develop and manufacture ionomers (proton conductive polymers) for use in membranes for Ballard(R) fuel cells. Ballard and Victrex will develop the manufacturing processes for Ballard's proprietary ionomer ionomer (īon´  mr),n a polymer containing ion. and collaborate on the development of Victrex's proprietary ionomer. The initial development period will last up to four years, during which each party will fund its own costs. Upon the successful completion of the development phase for each ionomer, including the development of volume manufacturing processes and qualification of the ionomer for commercial applications, Victrex will operate pilot facilities to manufacture these ionomers for use in Ballard(R) fuel cells. "This is an important alliance for Ballard as it has the potential to accelerate cost reduction through volume manufacturing of Ballard's ionomer and through the qualification of Victrex's low-cost ionomer for use in our fuel cells," said Kip Smith, Ballard 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. . "Victrex has demonstrated manufacturing capabilities and expertise in developing polymers," said Dr. Alfred Steck, Ballard's Vice-President and Chief Technical Officer. "The combined strength of Ballard and Victrex will allow us to broaden our technology base and enhance our ability to achieve our volume manufacturing and cost reduction goals." "We are excited at the prospect of working with 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. fuel cells," said David Hummel hummel entire, naturally polled deer. , Victrex's Chief Executive. "This alliance with Ballard greatly enhances the prospects for the membrane materials that we have developed and leverages Victrex's skill in manufacturing with Ballard's fuel cell expertise. We look forward to a mutually beneficial long-term relationship." Victrex plc is an innovative, world-leading, high performance materials group. It has manufacturing plants and research facilities in the UK, and sales and distribution centres serving over 30 countries worldwide. Victrex is at the forefront of high performance polymer technology having developed and commercialised a number of exciting new materials. The most notable of these is PEEK(tm) polymer, a high performance plastic with a unique combination of properties, which include exceptional chemical, wear, electrical and temperature resistance, as well as dimensional stability and numerous processing capabilities. These properties enable engineers to produce cost-effective designs for critical applications in such diverse markets as the industrial, aerospace, automotive, electronics, food and medical sectors. Ballard Power Systems is recognized as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane fuel cells for use in transportation, electricity generation and portable power 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, petroleum or renewable sources) 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. Ballard has also 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. Victrex's Ordinary Shares are listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and are classified under the heading "Chemical Companies". 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". Ballard and the Ballard logo are registered trademarks of Ballard Power Systems Inc. Victrex is a registered trademark of Victrex plc. |
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