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Ballard Signs Agreement for QuestAir's Enrichment Technology

27 September 2000

Ballard Signs Exclusive Agreement for QuestAir's Hydrogen Purification and Oxygen Enrichment Technology

    VANCOUVER, B.C.--Sept. 27, 2000--Ballard Power

    Ballard Power Systems and QuestAir Technologies Inc. announced today that they have signed an agreement to develop and commercialize QuestAir's hydrogen purification and oxygen enrichment technology for use with Ballard(R) fuel cells. Ballard will also acquire 10 per cent of QuestAir shares, on a fully diluted basis, at a price of $16.7 million (US$11.2 million).
    Under the agreement, which covers a defined period, Ballard has the exclusive right to QuestAir's technology for use in proton exchange membrane (PEM) fuel cell applications. Ballard will fund a portion of QuestAir's related development costs. Completion of the transaction is subject to approval by shareholders of QuestAir, which is a private company.
    "The successful development of QuestAir's proprietary technology for use with our fuel cells is expected to contribute to the cost reduction of our products," said Kip Smith, Ballard President and Chief Operating Officer. "This collaboration with QuestAir reflects our goal of securing relationships that have strategic value in developing commercial Ballard(R) fuel cell products."
    Denis Connor, QuestAir's President and Chief Executive Officer, said, "We are excited about working with the world leader in proton exchange membrane fuel cell development, a collaboration which we believe will enhance commercialization efforts of both Ballard and QuestAir. We welcome Ballard as a shareholder and look forward to a mutually beneficial long-term relationship."
    QuestAir's oxygen enrichment system will be developed and integrated with Ballard's proton exchange membrane fuel cells, allowing reductions in fuel cell stack size and weight, thereby improving power density and generating cost savings. QuestAir's hydrogen purification system, which removes impurities from the hydrogen generated from onboard or stationary fuel processing, will contribute to the development of high performance and cost-effective fuel reforming systems.