Ballard Signs Joint Development Agreement With Ford Power Products for Engine Generators.Business Editors DEARBORN, Mich.--(BUSINESS WIRE)--Feb. 19, 2002 Ballard Power Systems' (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 )(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) ) Electric Drives and Power Conversion Division has signed a joint development agreement with Ford Power Products (FPP FPP Florida Professional Photographers FPP First Past the Post FPP Farmland Protection Program (now Farm and Ranch Lands Protection Program) FPP First Person Perspective FPP Floating Point Processor FPP Focal Plane Package ), a subsidiary of Ford Motor Company, to jointly develop commercial power generation products. Ballard and Ford Power Products, suppliers of engines, transmissions and components to original equipment manufacturers (OEMs), will jointly develop products driven by spark ignited combustion engines for the generator market. Other opportunities exist for on-road hybrid applications, such as commercial trucks and buses, where the powertrain provides power to electric drive motors, batteries and other equipment. The main application for the Ballard/FPP powertrain is the electrical power generation market (i.e. generator sets). Most often, generator sets are used when power from the electrical distribution grid is not available. This new alternative in power generation has many advantages to the end-user, including increased power, lower costs per kilowatt and reduced emissions. These products will have a considerably lower environmental impact than today's diesel powered generators and have the same or greater power output at a lower cost. "Power conversion electronics are a key part of Ballard's core fuel cell based products," said Ross Witschonke, Vice-President of Ballard's Electric Drives and Power Conversion Division. "By joining with Ford Power Products we are able to leverage our world leading power conversion capabilities with Ford's proven combustion engines to deliver cleaner, more efficient and more comprehensive customer solutions in today's distributed and standby power generation markets." "We continue expanding the products and services we offer to these markets, giving our customers access to new technologies which will reduce their time to market, and significantly lower their engineering costs associated with developing power generation designs," said Paul Moore, Vice-President and General Manager, Ford Power Products. "Ford Power Product's intention is not to become a generator set manufacturer, rather a supplier of preferred components to this market." The initial products resulting from this joint agreement are expected by year-end. These products will serve the prime power, standby power, and emergency power markets. Prime power is used where there is no connection to the electrical grid; standby power is used to reduce the amount of power drawn from the electrical grid; and emergency power is used when there is a failure in the electrical grid. Since 1947, Ford Power Products has been supplying Ford powertrains to the industrial, marine and on-road markets. With headquarters in Dearborn, Michigan, FPP also has offices in Koln, Germany, and Aveley, England. FPP is ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified and holds the Ford Q1 award. Visit www.fordpowerproducts.com for additional information. 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 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. is recognised 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. ("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. Ballard is commercialising fuel cell engines for the transportation market, electric drive trains for both fuel cell and battery powered electric vehicles, power conversion equipment for microturbines and other distributed generation technologies, fuel cell power generation equipment for markets ranging from 1-kilowatt portable power products to larger stationary power generation products and is a Tier 1 automotive supplier of friction materials for power train components. Ballard's proprietary technology is enabling automobile, electrical equipment and portable power product manufacturers to develop environmentally clean products for sale. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, ALSTOM and EBARA, to commercialise 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 "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. Ford Power Products, the FPP logo and tagline are registered trademarks of Ford Power Products. |
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