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DEARBORN, Mich.--(BUSINESS WIRE)--Feb. 19, 2002--Ballard Power Systems' (TSE:BLD)(NASDAQ:BLDP) Electric Drives and Power Conversion Division has signed a joint development agreement with Ford Power Products (FPP), a subsidiary of Ford Motor Company, to jointly develop commercial power generation products.

Ballard and Ford Power Products, suppliers of engines, transmissions and components to original equipment manufacturers (OEMs), will jointly develop products driven by spark ignited combustion engines for the generator market. Other opportunities exist for on-road hybrid applications, such as commercial trucks and buses, where the powertrain provides power to electric drive motors, batteries and other equipment.

The main application for the Ballard/FPP powertrain is the electrical power generation market (i.e. generator sets). Most often, generator sets are used when power from the electrical distribution grid is not available. This new alternative in power generation has many advantages to the end-user, including increased power, lower costs per kilowatt and reduced emissions. These products will have a considerably lower environmental impact than today's diesel powered generators and have the same or greater power output at a lower cost.

"Power conversion electronics are a key part of Ballard's core fuel cell based products," said Ross Witschonke, Vice-President of Ballard's Electric Drives and Power Conversion Division. "By joining with Ford Power Products we are able to leverage our world leading power conversion capabilities with Ford's proven combustion engines to deliver cleaner, more efficient and more comprehensive customer solutions in today's distributed and standby power generation markets."

"We continue expanding the products and services we offer to these markets, giving our customers access to new technologies which will reduce their time to market, and significantly lower their engineering costs associated with developing power generation designs," said Paul Moore, Vice-President and General Manager, Ford Power Products. "Ford Power Product's intention is not to become a generator set manufacturer, rather a supplier of preferred components to this market."

The initial products resulting from this joint agreement are expected by year-end. These products will serve the prime power, standby power, and emergency power markets. Prime power is used where there is no connection to the electrical grid; standby power is used to reduce the amount of power drawn from the electrical grid; and emergency power is used when there is a failure in the electrical grid.

Since 1947, Ford Power Products has been supplying Ford powertrains to the industrial, marine and on-road markets. With headquarters in Dearborn, Michigan, FPP also has offices in Koln, Germany, and Aveley, England. FPP is ISO 9001 certified and holds the Ford Q1 award. Visit www.fordpowerproducts.com for additional information.

This release contains forward-looking statements that are based on the beliefs of Ballard's management and reflect Ballard's current expectations as contemplated under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, the words "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", the negative of these words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of Ballard with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements.

Ballard Power Systems is recognised as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane ("PEM") fuel cells. Ballard is commercialising fuel cell engines for the transportation market, electric drive trains for both fuel cell and battery powered electric vehicles, power conversion equipment for microturbines and other distributed generation technologies, fuel cell power generation equipment for markets ranging from 1-kilowatt portable power products to larger stationary power generation products and is a Tier 1 automotive supplier of friction materials for power train components. Ballard's proprietary technology is enabling automobile, electrical equipment and portable power product manufacturers to develop environmentally clean products for sale. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, ALSTOM and EBARA, to commercialise BALLARD(R) fuel cells. Ballard has supplied fuel cells to Honda, Nissan, Volkswagen, Yamaha, Cinergy, Coleman Powermate and Matsushita Electric Works, among others.


CONTACT:  

Ballard Power Systems Inc., Dearborn
Michael Rosenberg, 604/412-3195
fax: 604/412-3100
investors@ballard.com