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DaimlerChrysler and Ford Complete Ballard Investment

Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) announced its Vehicular Alliance partners, DaimlerChrysler AG and Ford Motor Company, have completed the previously announced purchase of CDN $55 million of Ballard common shares pursuant to a Call Agreement entered into by the parties on December 31, 2003. DaimlerChrysler purchased 2,431,388 common shares of Ballard at CDN $12.34 per share, for an aggregate purchase price of CDN $30 million. Ford purchased 2,026,157 common shares of Ballard at CDN $12.34 per share, for an aggregate purchase price of CDN $25 million. Following the issuance of Ballard common shares pursuant to the Call Agreement, DaimlerChrysler owns 22,085,992 Ballard common shares or 17.9% and Ford owns 24,181,198 Ballard common shares or 19.6% of the issued and outstanding Ballard common shares (based on 123,236,389 Ballard common shares outstanding). “This investment strengthens our financial position, and also shows the commitment of our Alliance partners, DaimlerChrysler and Ford, to Ballard, our fuel cell alliance and automotive fuel cells,” said Dennis Campbell, Ballard’s President and Chief Executive Officer. Ballard is recognized as a world leader in developing, manufacturing and marketing zero-emission proton exchange membrane fuel cells. Ballard’s mission is to develop fuel cell power as a practical alternative to […]

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Weekly Clean Energy Roundup:January 12, 2005

News and Events Ford Commits to Four New Hybrid Vehicles in Next Three Years Ford Escape Hybrid Named 2005 Truck of the Year General Motors Unveils the Fuel-Cell-Powered “Sequel” Energy Star Sets New Guidelines for External Power Supplies USDA Publishes Rules for Federal Purchasing of Bioproducts Student’s Wave Energy Invention Wins National Award Editor’s Note on New Jersey Clean Energy FundsSite NewsNational Fuel Cell Education Program Energy ConnectionsGroups Push Competing Proposals for the Alaska Natural Gas PipelineNews and EventsFord Commits to Four New Hybrid Vehicles in Next Three YearsFord Motor Company announced Monday that it will launch four new hybrid electric vehicles over the next three years, starting with the Mercury Mariner Hybrid sport utility vehicle (SUV), which will go on sale later this year. That vehicle will be followed by the Mazda Tribute Hybrid SUV in 2007 and the Ford Fusion Hybrid and Mercury Milan Hybrid mid-size sedans in 2008. All four will be “full” hybrids, which operate in electric-only mode at low speeds. See the Ford press release.Ford made the announcement at the North American International Auto Show (NAIAS) in Detroit, where Ford also unveiled its Mercury Meta One concept car, a hybrid vehicle that uses a twin-turbocharged […]

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