Ballard Power Systems Enters Collaboration Agreement with UCAR International Inc. and Graftech Inc. (US $5 million)

On June 5, 2001, Ballard Power Systems Inc., entered an exclusive development and collaboration agreement and long term supply agreement with Graftech Inc., a subsidiary of UCAR International Inc., for natural graphite-based materials and manufactured components for fuel cells and fuel cell systems. The transaction also involved the acquisition by Ballard of shares of Graftech for US $5 million. Ballard relied on Noordin Nanji (VP, Strategic Development) and Michael Rosenberg (Director, Corporate Development). Ballard was represented in the transaction by a team at Lang Michener (Vancouver), which consisted of Amyn Abdula, assisted by Barbara Snyder (securities). Also representing Ballard was John Gaffney from Cravath, Swaine & Moore (New York). UCAR International Inc. and Graftech Inc. were represented by Karen Narwold (VP, General Counsel and Secretary) and James R. Cartiglia (Chief Intellectual Property Counsel). Additionally, outside counsel was provided by M. Ridgway Barker and Randi-Jean G. Hedin from Kelley Drye & Warren LLP (Connecticut).