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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Ballard Power Systems Inc. |
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(Translation of registrants name into English) | ||||
Canada | ||||
(Jurisdiction of incorporation or organization) | ||||
9000 Glenlyon Parkway Burnaby, BC V5J 5J8 Canada |
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(Address of principal executive office) |
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [ ] Form 20-F [x] Form 40-F | ||||
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ] | ||||
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ] | ||||
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: [ ] Yes [x] No | ||||
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
Ballard Power Systems Inc. | ||
Date: May 26, 2009 | By: |
Glenn Kumoi |
Name: | Glenn Kumoi | |
Title: | VP Human Resources & Chief Legal Officer | |
Exhibit No. | Description | |
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99.1 | Ballard Announces Plans to Dissolve EBARA Ballard Corporation Joint Venture | |
Ballard Power Systems
News Release
Ballard Announces Plans to Dissolve EBARA Ballard Corporation Joint Venture
For Immediate Release May 24, 2009
VANCOUVER, CANADA Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) announced intentions to discontinue operations of EBARA Ballard Corporation. EBARA Ballard Corporation is a joint venture with EBARA Corporation and is focused on the development, manufacture, sale, and servicing of stationary power systems for the residential cogeneration market in Japan.
As weve said in the past, we see residential cogeneration on a longer timeline to commercialization, said John Sheridan, President and CEO, This, combined with an increasing investment requirement for continued system development work, has impacted the business case for this program. We believe that this decision is in the best interest of both joint venture parties, along with our shareholders.
Given the low growth projected for this market in 2009, Ballard does not anticipate a material impact from this decision on its current year financial outlook.
Although Ballard is dissolving the joint venture company for systems development for the Japanese residential cogeneration market, the company believes that opportunities continue to exist in Japan, as well as other international markets, for sales of residential cogeneration fuel cell stack products. Ballard will continue to sell the companys FCgenTM-1030v3 fuel cell product for applications such as residential cogeneration, including supply of this product to Baxi Innotech GmbH for the German Callux Project.
Ballard and EBARA Corporation will work together over the next 90 days to finalize details of the dissolution of the joint venture. EBARA Corporation will continue to service the EBARA Ballard Corporation fuel cell systems that are already in the field.
About Ballard Power Systems
Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) is recognized as a world leader in the design,
development, manufacture and sale of clean energy fuel cell products. Ballards mission is to
accelerate fuel cell product adoption. To learn more about what Ballard is doing with Power to
Change the World®, visit www.ballard.com.
For further information, or to arrange an interview with a Ballard spokesperson, please contact Amy Harada Bradley at telephone number 604-412-7913 or on e-mail amy.harada@ballard.com. Ballard, the Ballard logo and Power to Change the World are registered trademarks of Ballard Power Systems Inc.