Ballard Sale of Automotive Fuel-Cell Assets Approved
January 28, 2008

Ballard Power Systems Inc. of Vancouver, British Columbia, said shareholders have approved the previously reported transaction to sell the company's automotive fuel-cell assets to automakers Daimler AG and Ford, Dow Jones reported.

The hydrogen fuel cells said 97.8 percent of shares voted were in favor. The transaction is expected to close January 31. The company said the transaction would lower its risk profile and enable it to concentrate on growth in the fuel-cell market.

Chris Guzy, Ballard’s chief technology officer, told AutoObserver in November the new Daimler-Ford ownership moves commercially viable fuel cells for cars closer to reality.

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