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Ford, Ballard close fuel-cell deal

TORONTO - Shares of Ballard Power Systems Inc. jumped sharply Thursday, Sept. 20, after the company signed a three-year deal with partner Ford Motor Co. to sell to Ford $22 million of Ballard's Mark 900 Series fuel-cell power modules.

Ballard, of Burnaby, British Columbia, said the deal, the largest order for the company's fuel cells to date, is another step by the two companies toward the commercial launch of fuel-cell vehicles.

A commercial vehicle operating on fuel cells, which use a chemical reaction between hydrogen and oxygen to generate electricity with water vapor as the only emission, is expected to be available in 2004, said the companies in a statement.

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