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Ballard Power Systems Inc., DaimlerChrysler AG and Ford Motor Company today announced the signing of an agreement in which Ballard will acquire the interests of DaimlerChrysler and Ford in XCELLSIS GmbH. XCELLSIS and Ecostar were formed as part of the vehicular fuel cell alliance between Ballard, Daimler Chrysler and Ford in 1998.
These acquisitions will provide Ballard with an expanded range of products, from components to power generators and vehicular fuel cell power trains, and an unrivalled intellectual property portfolio. The transaction increases the commitment of DaimlerChrysler and Ford to, and reliance on, Ballard as their exclusive fuel cell engine supplier.
XCELLSIS develops, produces and sells proton exchange membrane (PEM) fuel cell engines for vehicular applications and integrates fuel cell engines and electric drive trains to form fuel cell power trains. The XCELLSIS fuel cell engine technology has been demonstrated in nine fuel cell buses, eight fuel cell powered prototype cars developed by DaimlerChrysler, three prototype cars developed by Ford and a Mazda prototype development vehicle. An XCELLSIS fuel cell engine has also been sold to Nissan. Currently, Ballard owns 26.7 percent of XCELLSIS and DaimlerChrysler and Ford own 51.5 percent and 21.8 percent, respectively.
Ecostar develops, produces and sells electric drive trains for use in electrically powered vehicles, and power conversion systems for microturbines, internal combustion engines and fuel cell products. The electric drive train technology of Ecostar was first used commercially in an electric powered version of the Ford Ranger pick-up truck. Ford’s TH!NK City car will incorporate Ecostar’s electric drive train beginning in 2002. Ecostar has developed power electronics for use with distributed stationary power generators powered by microturbines, internal combustion engines, fuel cells and renewable power. Currently Ballard owns 20.9 percent of Ecostar and Ford and DaimlerChrysler own 62.1 percent and 17.0 percent, respectively.
Firoz Rasul, Ballard’s Chairman and Chief Executive Officer said, “Consolidating XCELLSIS and Ecostar into Ballard will make Ballard a stronger company with expanded markets, more products, greater capabilities, an unrivalled technology portfolio and a formidable team, extending Ballard’s lead in the fuel cell industry. This transaction will result in the increased commitment of DaimlerChrysler and Ford to Ballard’s success. Ballard’s expanded product range and enhanced ability to provide complete solutions will bring us much closer to all our customers.”
Prof. Jürgen Hubbert, Member of the Board of Management of DaimlerChrysler and responsible for Mercedes-Benz cars and Smart said, “To date, DaimlerChrysler has invested approximately US$1-billion in fuel cell research and development and presented ten fuel cell vehicles as either concept cars or test vehicles, each one powered by BALLARD fuel cells. The new vehicular fuel cell alliance structure will further enhance the rapid technology development demonstrated to date. DaimlerChrysler will enthusiastically continue to pursue development of this revolutionary fuel cell technology with the goal of being first to market.”
Wayne Booker, Vice-Chairman of Ford Motor Company commented, “Ballard acquiring XCELLSIS and Ecostar will enhance the development of portable, stationary, and transportation fuel cell products. At Ford, we are committed to delivering environmentally-sound products to our customers. We see fuel cells as an important part of our long-term environmental strategy.”
The timing for the commercial launch of Ballard’s fuel cell products remains unchanged, with the launch of portable power products scheduled to occur later this year, followed by transit bus engines in 2002, intermittent stationary products in 2003 and automotive products in 2003 to 2005, as planned.
In parallel, Ballard will be launching several new products in 2002. These include new battery electric drive trains targeted for use in airline ground support baggage tractors and the Ford TH!NK City passenger car, and a power conversion system that will be available for use with microturbines and other stationary power generators.
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