Ballard To Supply Fuel Cells To DaimlerChrysler For 30 Fuel Cell Buses
Ballard Power Systems announced today that it has signed an agreement to supply Mark 900 series fuel cells for 30 buses to DaimlerChrysler.
Ballard will supply the BALLARD(R) Mark 900 Series Fuel Cell Power Modules for the buses in 2002 and 2003. Ballard's fuel cells will be integrated into fuel cell engines by XCELLSIS, a jointly held company
"The receipt of an order for fuel cells for commercial buses marks a major milestone for Ballard," said Firoz Rasul, Ballard's Chairman and Chief Executive Officer. "DaimlerChrysler and its customers in Europe are leading the way in adoption of zero-emission fuel cell technology."
The fifth-generation fuel cell buses will be delivered to 10 European cities for use in transit service beginning in 2002. The European Union is providing partial funding for the buses under its EU Bus Project. Field trials of BALLARD(R) fuel cell-powered buses in Chicago, Vancouver and Palm Springs played an integral role in advancing XCELLSIS's fuel cell engine technology on the path to the commercial introduction of fuel cell buses.
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, 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.
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