Automotive Electronics

Ballard, Petro-Canada & Methanex Sign Memorandum of Understanding

Ballard Power Systems (Vancouver), Petro-Canada (Calgary), and Methanex (Vancouver) announced the signing of a Memorandum of Understanding in which the three companies will be working together to establish a commercially viable fuel distribution network to meet the expected demand for fuel cell vehicles. The first pilot project will involve the supply and distribution of fuel, starting with methanol. "As the introduction of fuel cell powered cars approaches in the year 2004 and as these vehicles become more common, Canada will require a local fuel distribution network for these vehicles, which this association begins to address," stated Ballard Chairman and CEO Firoz Rasul.

Ballard Power Systems Inc. , Methanex Corp. , Petro-Canada
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