VANCOUVER, BRITISH COLUMBIA, Oct 16, 2007 (MARKET WIRE via COMTEX News Network) -- Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) today announced it
has signed a supply agreement with Voller Energy Group PLC (Voller)
to provide Ballard Mark1030(TM) fuel cell stacks for integration into
Voller's 1kW auxiliary power units (APUs), aimed at the leisure,
marine and construction markets. Under the agreement, Ballard will
deliver fuel cells to Voller in 2007 and 2008.
"Voller has integrated Ballard's Mark1030 fuel cell into an APU
product that addresses three distinct markets," said Noordin Nanji,
Ballard's Chief Customer Officer. "The Mark1030 already has several
years of proven performance in Japanese residential cogeneration
systems and so we are delighted to see it employed in exciting new
applications that will deliver clean, quiet power to various consumer
markets. While volumes will be small initially, the potential of
these markets makes this a valuable opportunity to evaluate the role
that fuel cell technology can play in APU markets."
The Mark1030 is at the heart of Voller's Emerald fuel cell generator
- a product that runs on liquefied petroleum gas (LPG) or propane and
provides the functional equivalent of a five-kVA gas or diesel
generator. The Emerald generator is ideal for delivering 12V or 24V
power on boats and in recreational vehicles, leveraging the cooking
gas already on board as fuel. The Emerald generator can also be used
at remote building sites as a quiet and efficient alternative to
"The Ballard Mark1030, designed to operate on hydrogen derived from
reformed fuels, offers a well verified fuel cell solution for the
Voller Emerald APU," said Stephen Voller, Voller's Chief Executive
Officer. "Because the Emerald works using widely available fuels such
as propane and LPG, we have removed the fueling infrastructure issue
from the table."
Voller Energy Group plc is one of the world's first commercial
developers and manufacturers of portable fuel cell systems for use as
battery chargers and mobile generators - ideal for anyone who has a
need for reliable and versatile remote power.
Voller is a green/clean technology company focused on alternative,
renewable and new energy technologies for a lower carbon economy.
Listed on the AIM market of the London Stock Exchange (LSE: VLR), the
company was founded in 2002 by Stephen Voller and Mike Clarke.
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.
For further information, or to arrange an interview with a Ballard
spokesperson, please call Guy McAree or Rebecca Young at
604-454-0900. Ballard, the Ballard logo, Power to Change the World
and Mark 9 SSL are registered trademarks of Ballard Power Systems
Ballard Power Systems Inc.
Ballard Power Systems Inc.
(604) 412-4700 (FAX)
SOURCE: Ballard Power Systems Inc.