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Bush Will Push Nuclear Power As Clean, Renewable Energy

by John J. Fialka President Bush says the nation needs advanced nuclear-power plants, calling them a clean, “renewable” energy source for the future. In an interview with The Wall Street Journal on Monday, Mr. Bush said he looks forward to working with Congress on an energy bill that includes incentives for the nuclear-power industry. “It [nuclear power] certainly answers a lot of our issues. It certainly answers the environmental issue,” he said. “It’s always gratifying to have the president on your side,” said John W. Rowe, chairman and chief executive of Exelon Corp., of Chicago, which operates the nation’s largest group of nuclear-power plants. New Mexico Republican Pete V. Domenici, chairman of the Senate Energy Committee, said he welcomed Mr. Bush’s remarks. “Without any question,” he said, the long-term electricity-generating alternative to the nation’s dwindling supplies of natural gas “will have to be nuclear power. If America is afraid of it, the world will use” advanced nuclear technology. Sen. Domenici is expected to offer an energy bill that will include financial incentives for the first new nuclear-power plants. Nuclear power now supplies 20% of the nation’s electricity, according to the U.S. Department of Energy, while coal-fired plants provide 51% and […]

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DaimlerChrysler and Ford Complete Ballard Investment

Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) announced its Vehicular Alliance partners, DaimlerChrysler AG and Ford Motor Company, have completed the previously announced purchase of CDN $55 million of Ballard common shares pursuant to a Call Agreement entered into by the parties on December 31, 2003. DaimlerChrysler purchased 2,431,388 common shares of Ballard at CDN $12.34 per share, for an aggregate purchase price of CDN $30 million. Ford purchased 2,026,157 common shares of Ballard at CDN $12.34 per share, for an aggregate purchase price of CDN $25 million. Following the issuance of Ballard common shares pursuant to the Call Agreement, DaimlerChrysler owns 22,085,992 Ballard common shares or 17.9% and Ford owns 24,181,198 Ballard common shares or 19.6% of the issued and outstanding Ballard common shares (based on 123,236,389 Ballard common shares outstanding). “This investment strengthens our financial position, and also shows the commitment of our Alliance partners, DaimlerChrysler and Ford, to Ballard, our fuel cell alliance and automotive fuel cells,” said Dennis Campbell, Ballard’s President and Chief Executive Officer. Ballard is recognized as a world leader in developing, manufacturing and marketing zero-emission proton exchange membrane fuel cells. Ballard’s mission is to develop fuel cell power as a practical alternative to […]

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