Ballard, Honda Sign $25.9-Million Supply Agreement For Fuel Cells

    VANCOUVER, B.C.--April 2, 2001--Ballard Power Systems announced today that it has signed a $25.9-million (US$16.5-million) supply agreement with 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 transportation fuel cell stack.
    "We are proud to receive this significant order for BALLARD(R) fuel cells from Honda as it forges ahead with its fuel cell vehicle development program," said Ballard Chairman and Chief Executive Officer Firoz Rasul. "We are working hard to ensure our long-standing relationship with Honda continues to flourish."
    Under the terms of the supply agreement, Ballard will provide Honda with fuel cells and related services through 2002. The first delivery of fuel cells under the agreement was made in February, 2001.