Ballard Receives $1.9 Million Order From Honda For Fuel Cells

Business Wire, Jan 23, 2001

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 23, 2001

Ballard Power (NASDAQ:BLDP)(TSE:BLD.)

Ballard Power Systems announced today that it has received a $1.9 million (US$1.3-million) order from Honda R&D Co., Ltd. of Saitama, Japan, a subsidiary of the Honda Motor Company, for Mark 900 Series Fuel Cell Power Modules and support services.

The BALLARD(R) Mark 900 Series Fuel Cell Power Module incorporates Ballard's latest generation fuel cell stack, the Mark 900, which utilizes low-cost materials and is designed for manufacturing in automotive volumes.

"Honda introduced several prototype vehicles powered by BALLARD(R) fuel cells in 2000," said Ballard Chairman and Chief Executive Officer Firoz Rasul. "We are delighted to continue to supply Honda with fuel cells for use in its testing and development program in 2001 and continue to strengthen our relationship with them."

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(R) fuel cells. Ballard has also supplied fuel cells to Honda, Nissan, Volkswagen, Yamaha, Cinergy, Coleman Powermate and Matsushita Electric Works, among others.

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 "BLDP". Ballard and the Ballard logo are registered trademarks of Ballard Power Systems Inc.