Ballard Responds to November 3 Reuters News Story on Automotive Fuel Cell Transaction
VANCOUVER, BRITISH COLUMBIA, Nov 04, 2007 (MARKET WIRE via COMTEX News Network) -- Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) confirms that it has
been reviewing strategic alternatives with regard to its automotive
fuel cell assets due to the lengthy projected timeline to
commercialization and high cost of development. Ballard is currently
in negotiations with Daimler AG and Ford Motor Company with regard to
one of the options under consideration.
There can be no assurance that the negotiations will be successful
or, if they are successful, that definitive agreements will be
reached. Ballard does not intend to comment any further while
negotiations are being conducted, but will provide an update on
completion of negotiations.
About Ballard Power Systems
Ballard Power Systems Inc. (TSX: BLD)(NASDAQ: BLDP) is recognized as
a leader in the development, manufacture and sale of hydrogen fuel
cells. Ballard's mission is to make fuel cells a commercial reality.
To learn more about what Ballard is doing with Power to Change the
World(R), visit www.ballard.com.
This release contains forward-looking statements that are based on
the beliefs and assumptions of Ballard's management and reflect
Ballard's current expectations as contemplated under section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. Such assumptions
relate to our financial forecasts and expectations regarding our
product development efforts, manufacturing capacity, and market
demand. These statements involve risks and uncertainties that may
cause our actual results to be materially different, including,
without limitation, the rate of mass adoption of our products,
product development delays, changing environmental regulations, our
ability to attract and retain business partners and customers, our
access to funding, increased competition, our ability to protect our
intellectual property, changes in our customers' requirements, and
our ability to provide the capital required for product development,
operations and marketing. Readers should not place undue reliance on
Ballard's forward-looking statements and Ballard assumes no
obligation to update or release any revisions to these forward
looking statements. For a detailed discussion of the risk factors
that could affect Ballard's future performance, please refer to our
most recent Annual Information Form.
Ballard, the Ballard logo, Power to Change the World and Mark 9 SSL
are registered trademarks of Ballard Power Systems Inc.
Contacts:
Ballard Power Systems Inc.
Lori Vetter or Guy McAree
Investor Contacts
(604) 454-0900
Email: investors@ballard.com
Ballard Power Systems Inc.
Rebecca Young or Guy McAree
Media Contacts
(604) 454-0900
(604) 412-4700 (FAX)
Email: media@ballard.com
Website: www.ballard.com
