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Investor backs Ballard on co-generation systems
Publication Date:27-May-2005
04:25 PM US Eastern Timezone 
Source:Canadian Press
Hydrogen fuel cell company Ballard Power Systems Inc. says it will receive $30-million (U.S.) from an investment by Japanese partner Ebara Corp. and jointly owned Ebara Ballard Corp. The money is to help finance development of co-generation fuel cell stack and system technology, Ballard said yesterday. 

Co-generation systems are installed directly at consumers' homes and generate electricity and hot water. 

"The unique value proposition of fuel cell powered co-generation for the Japanese market is that it reduces dependency on grid-based power in a country with some of the world's highest electricity rates," Ballard said. 

BLD (TSX) fell 18 cent to $4.99. 6361 (Tokyo) fell ¥10 to ¥374 ($4.39).

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