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September 1, 2005

Fuel Cell System Business Will Operate as NuCellSys GmbH

Source: H2 Cars

As of 1st of September, the Ballard Power Systems AG is operating as NuCellSys GmbH. DaimlerChrysler and Ford Motor Company have taken over the fuel cell system business from the Canadian Ballard Power Systems Inc., with each holding a 50 percent share.
The acquisition agreement signed on June 23, 2005, establishes the framework for further collaboration of the Alliance Partners and defines the details of the transaction. It is a major step in realigning the Fuel Cell Alliance between Ballard, DaimlerChrysler and Ford towards market introduction of fuel cell engines. Ballard’s shareholders approved the acquisition on August 29.

NuCellSys will continue developing and manufacturing fuel cell systems for automotive applications. Ballard will focus on the research, development and production of fuel cell stacks. DaimlerChrysler and Ford will integrate the complete fuel cell drive train into their vehicles including inverter, electric engine and hydrogen storage. NuCellSys will work together with its parent companies to define and implement the fuel cell system roadmap. The new operating model will allow for each Alliance Partner to concentrate on their respective core competencies. NuCellSys will continue to work with other automotive customers and supply fuel cell systems for integration into their vehicles.

235 predominantly highly specialized employees at the Nabern facility will be responsible for system development and design, component and software development, and system assembly and qualification. Hans-Joachim Biegner from Ford is the new Chief Financial Officer of NuCellSys. André Martin, an experienced professional, who is also actively involved in the definition of the European Roadmap for hydrogen and fuel cells, has been appointed as Chief Program Officer. Massimo Venturi from DaimlerChrysler will act as Chief Technology Officer.