Business Services Industry
Ballard Secures $1 Million Contract from General Motors for Fuel Cell Test Equipment and Services
Business Wire, August 14, 1998
VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Aug. 14, 1998-- Ballard Power (NASDAQ:BLDPF) (TSE:BLD.) Ballard Power Systems announced today that it had secured a $1.0 million contract (US$0.7 million) from General Motors Corporation, to supply fuel cell test equipment and related services.
General Motors will use the test equipment as part of their ongoing research and development program for fuel cell powered electric vehicles.
"Ballard values its ongoing relationship with General Motors," said Firoz Rasul, President and Chief Executive Officer of Ballard. "This purchase of fuel cell test equipment and related services shows GM's continued interest and dedication to the development of fuel cell powered vehicles."
Ballard Power Systems is the world leader in the development of proton exchange membrane fuel cell power systems. At the heart of its products is the Ballard Fuel Cell, a proprietary zero-emission engine that converts natural gas, methanol, gasoline, or hydrogen fuel into electricity without combustion. Ballard Fuel Cells are currently being used by leading international companies including Daimler-Benz, Ford, General Motors, Chrysler, Nissan, Hitachi, Honda, Mazda, Volkswagen, Volvo, Matsushita Electric Works, GPU International, ALSTOM, EBARA, and Cinergy to develop zero-emission engines for vehicles and clean stationary power plants.
Ballard's Common shares are listed on The Toronto Stock Exchange under the trading symbol "BLD" and on the Nasdaq National Market System under the symbol "BLDPF".
CONTACT: Ballard Power Systems Inc.
Paul Lancaster, 604/412-3195
604/412-4700 (FAX)
e-mail: investors@ballard.com
or
Ballard Power Systems Inc.
Debby Roman, 604/412-4740
604/412-3131 (FAX)
e-mail: debrom@ballard.com
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