Ballard Receives $3.4-Million Order From Nissan For Fuel Cells

Systems to be used to develop Nissan's next generation of automobiles, Ballard chairman says.

Published: 29-Mar-2001

VANCOUVER, B.C.--(BUSINESS WIRE)--March 29, 2001--
Ballard Power (NASDAQ:BLDP)(TSE:BLD.) -- Ballard Power Systems (NASDAQ:BLDP)(TSE:BLD.) announced today that it has received a $3.4-million (US$2.2-million) order from Nissan 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. "Nissan is continuing to use BALLARD(R) fuel cells as it develops fuel cell-powered propulsion technologies for its next generations of automobiles," said Firoz Rasul, Ballard's Chairman and Chief Executive Officer. "Ballard is committed to working with Nissan in support of their fuel cell vehicle development efforts."

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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