STOCKHOLM, Sweden, June 25, 2003 (PRIMEZONE) -- Opcon Autorotor, a subsidiary of the Swedish listed Group, Opcon AB, has received an additional important order for air systems from Ballard Power Systems, world leader in commercializing fuel cell engines. The new order is for air systems designed for fuel cell engines in cars.
"This order signals that the fuel cell market for cars has entered into a new phase, hence strenghtening Opcon's position on this emerging market at major car manufacturers through Ballard Power Systems. We are very pleased to increase our business with Ballard," said Sven G Oskarsson, CEO for the Opcon Group.
Fuel cells are cleaner for the environment than traditional combustion engines. A fuel cell generates electrical energy to power a vehicle through a chemical process involving hydrogen and oxygen. The only emission is water. Opcon Autorotor's compressor supplies compressed air to the fuel cell. This is a key component that determines the performance level of the fuel cell.
The pace of fuel cell development has increased in recent years, partly due to new energy policies in the US and Europe aimed at reducing the dependence on oil and improving the environment. In the next few years several hundred fuel cell vehicles will be placed in customer's hands as part of a global fleet demonstration. "This new order from Ballard shows that fuel cells are leaving the development phase and entering traditional production phase," said Roland Arleback, Managing Director of Opcon Autorotor AB. The order comprises compressors and expanders designed for cars produced by Ford and DaimlerChrysler. The deliveries starts in August and have a duration of one year.
Opcon Autorotor was formed in 1990 and is based in Nacka, outside Stockholm. The company has supplied compressors to fuel cell projects in the auto sector since 1992 and is today a world leader in its field. From being a development company, Opcon Autorotor is now transforming itself into a manufacturing unit.
"We have prepared for increased production and we have invested in equipment for higher production capacity so that we can deliver similar products to other customers," explained Roland Arleback. "We have been working together with Ballard since 1993 and we are very proud to be supplying key components to the world's leading manufacturer of fuel cells."
Ballard Power Systems is recognized as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane fuel cells. Ballard is commercializing fuel cell engines for transportation applications and fuel cell systems for portable and stationary products. Ballard is also commercializing electric drives for fuel cell and other electric vehicles, power conversion products, and is a Tier 1 automotive supplier of friction materials for power train components. Ballard's proprietary technology is enabling automobile, bus, electrical equipment, portable power and stationary product manufacturers to develop environmentally clean products for sale. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, EBARA, ALSTOM and FirstEnergy, to commercialize Ballard(R) fuel cells.
For further information, please contact Sven G. Oskarsson, CEO, Opcon, +46 532 611 30, mobile +46 70 625 81 21. Roland Arleback, Managing Director Opcon Autorotor AB, + 46 8 448 44 46, mobile +46 70 549 04 52. Lena Karlsson, information manager, Opcon, +46 532 611 34, mobile +46 70 326 74 03. Information also available at www.opconab.com
Opcon's business concept is to develop, manufacture and market systems and products that help to generate clean and environment-friendly power. The Group had sales turnover in 2002 of SEK 283 million. The Group comprises SEM AB, REAC AB, Opcon Autorotor AB, Laminova AB and Opcon Inc. The Group has around 290 employees in Amal, Nacka, Sollentuna, Eskilstuna and USA. The Group manufactures ignition systems and engine management systems, electro-mechanical devices, compressors and heatexchangers. The Group's customers are mainly in the auto, small engine and engineering industries. Opcon AB is listed on the O-list of Stockholm Stock Exchange.
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