January 2005

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More Funds for Ballard Power Systems: DaimlerChrysler and Ford Motor Co., Ballard’s vehicular alliance partners, will invest another Can. $55 million (U.S.$45.8 million) in the Vancouver-based fuel cell developer. Ballard said it has exercised its right to call the investment from its partners, in line with a Call Agreement signed by the three on Dec. 31, 2003. DaimlerChrysler will buy Can. $30 million worth of Ballard common shares, and Ford will acquire Can. $25 million in Ballard stock. “This investment is a strong indication of our alliance partners’ continued commitment to automotive fuel cells and their continued support for Ballard,” Dennis Campbell, Ballard’s CEO said in a Dec. 17 statement.