Opcon Autorotor AB signs delivery agreement with leading fuel cell developer

Opcon Autorotor AB signs delivery agreement with leading fuel cell developer Opcon Autorotor AB, the Opcon Group's development company within the fuel cell sector, has signed a five-year delivery agreement with Ballard Power Systems AG. Autorotor will develop and deliver air modules and spare parts for air supply for fuel cell engines. The agreement has great strategic significance for Autorotor. OPCON AUTOROTOR AB PRESS RELEASE 27 SEPTEMBER 2004 STOCKHOLM Opcon Autorotor AB signs delivery agreement with leading fuel cell developer Opcon Autorotor AB, the Opcon Group's development company within the fuel cell sector, has signed a five-year delivery agreement with Ballard Power Systems AG. Autorotor will develop and deliver air modules and spare parts for air supply for fuel cell engines. The agreement has great strategic significance for Autorotor. Autorotor's air modules will be included in Ballard's fuel cell engines that are designed for test fleets of fuel cell cars from DaimlerChrysler and Ford. "This agreement gives us an entry to Ford and DaimlerChrysler, the carmakers we consider to have come furthest in fuel cell operation of vehicles and who will invest significantly in fuel cell technology in the future," says Per Alvestig, president of Autorotor. Ballard Power Systems AG, which is based in Germany and has activities in other countries, is currently the leader in the development and production of fuel cell engines. Their technology is based on the PEM fuel cell, which is the most efficient fuel cell engine for powering a vehicle. Ballard was acquired in July 2004 by DaimlerChrysler and Ford. Both companies have a long-term commitment to the development of cars and buses powered by fuel cells. Autorotor already has a development agreement with Ballard for air systems designed for fuel cells and has delivered air systems to Ballard and other leading carmakers for several years. Autorotor's goal is to establish itself on the growing fuel cell market as a developer and producer of complete air systems for fuel cell engines. During the negotiation period prior to the acquisition of Ballard by DaimlerChrysler and Ford, which ran from the autumn of 2003 up to the summer of 2004, investment decisions concerning future fuel cell development were delayed. This affected Autorotor's activities during the first half of 2004. "Development will now intensify again. The new agreement confirms that we have the know-how and resources that the major producers require for the future," says Per Alvestig. For further information: Per Alvestig, president, Opcon Autorotor AB, tel: +46 8-448 44 42, +46 70-245 66 44 Sven G. Oskarsson, CEO, Opcon AB, tel: +46 532-611 30, +46 70-625 81 21 Opcon Autorotor AB, Box 2100, 132 02 Saltsjö-Boo Tel: +46 8-448 44 44, fax: +46 8-715 35 35 e-mail: coex@autorotor.se Opcon develops, manufactures and markets systems and products that contribute to generating clean and environment-friendly power, and thus reduce the environmental impact of end products. In 2003 Opcon AB had sales turnover of SEK 247 million. The Opcon Group comprises SEM AB, REAC AB, Opcon Autorotor AB, Laminova Production AB, Svenska Rotormaskiner AB (SRM), Lysholm Technologies AB, Opcon Inc. and Opcon Co., Ltd. The Group employs around 300 employees in Åmål, Nacka, Sollentuna, Sweden, and in the US and China. Products made within the Group include ignition systems, electro-mechanical devices, screw compressors, heat exchangers and air systems for fuel cells. Most of the Group's customers are within the auto, small engine and engineering industries. Opcon AB is listed on the O-List of Stockholmsbörsen. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/09/28/20041004BIT20180/wkr0001.pdf