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Ballard Receives $575,000 Order for Fuel Cells from Hyundai

13 December 1999

Ballard Receives $575,000 Order for Fuel Cells from Hyundai

    VANCOUVER, BRITISH COLUMBIA--Dec. 13, 1999-- Ballard Power (TSE:BLD.) -- Ballard Power Systems announced today that it has received a $575,000 (US$391,000) order from a new customer, Hyundai Motor Company, for Ballard(R) fuel cells, related equipment and support services. Hyundai will use the Ballard fuel cells in its research and development program for evaluation and development of fuel cell technology as part of a cooperative program with the Korean government.
    "We are looking forward to working with Hyundai," said Ballard Chairman and Chief Executive Officer Firoz Rasul. "This is yet another example of an automotive company with an interest in the future of fuel cell technology. We are delighted to add Hyundai to our list of customers."
    Ballard Power Systems is the world leader in developing, manufacturing and marketing zero-emission PEM 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 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 Ballard fuel cells. Ballard has also supplied fuel cells to General Motors, Honda, Nissan, Volkswagen, Yamaha, Cinergy 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.