Ballard Receives $2.1 Million Order from Honda for Fuel Cells

8 February 1999

Ballard Receives $2.1 Million Order from Honda for Fuel Cells

    VANCOUVER, British Columbia--Feb. 8, 1999-- Ballard Power (TSE:BLD.) Ballard Power Systems announced today that it has secured a $2.1 million contract (US$1.4 million) from Honda R&D Co., Ltd., of Saitama, Japan, a subsidiary of the Honda Motor Company, to supply Ballard Fuel Cells, related equipment and support services. Honda will use the Ballard Fuel Cells in their research and development program for evaluation and development of fuel cell powered electric vehicles.
    "Honda is a leader in the development of environmentally friendly vehicles and has an aggressive fuel cell vehicle development program," said Firoz Rasul, President and Chief Executive Officer of Ballard. "We are pleased to be supplying additional Ballard Fuel Cells to assist them in the next stage of their development program."
    Ballard Power Systems is the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane (PEM) fuel cells for use in transportation, electricity generation and portable products. Ballard Power Systems' proprietary fuel cell technology is enabling automobile, electrical equipment and portable power product manufacturers to develop and sell environmentally clean products. The fundamental component of these end-user products is the Ballard Fuel Cell that combines hydrogen (which can be obtained from methanol, natural gas or petroleum) 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 the Ballard Fuel Cell. Additional customers using the Ballard Fuel Cell include General Motors, Nissan, Volkswagen, Volvo, Matsushita Electric Works, and Cinergy.