Ballard Receives $2.1 Million Order from Honda for Fuel Cells.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 8, 1999-- Ballard Power (Nasdaq:BLDPF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :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 .) 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 secured a $2.1 million contract (US$1.4 million) from Honda R&D Co., Ltd., of Saitama, Japan, a subsidiary of the Honda Motor Company, to supply Ballard Fuel Cells, related equipment and support services. Honda will use the Ballard Fuel Cells in their research and development program for evaluation and development of fuel cell powered electric vehicles. "Honda is a leader in the development of environmentally friendly vehicles and has an aggressive fuel cell vehicle development program," said Firoz Rasul, President and Chief Executive Officer of Ballard. "We are pleased to be supplying additional Ballard Fuel Cells to assist them in the next stage of their development program." Ballard Power Systems is 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. (PEM (Privacy Enhanced Mail) A standard for secure e-mail on the Internet. It supports encryption, digital signatures and digital certificates as well as both private and public key methods. Not widely used, work on PEM later evolved into S/MIME. See MIME. ) 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 fundamental 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, Volkswagen, Volvo, 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. |
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