Petro-Canada, Ballard Power Systems, and Methanex Partner to Develop Alternative Fuel Sources in Canada

Strategic Insights -

Petro-Canada, the Canadian gas station, has partnered with Ballard Power Systems, a world leader in fuel cell technology, and Methanex, the global leader in methanol production, to develop a network for distributing methanol as a clean, affordable fuel source for fuel cell vehicles. The Memorandum of Understanding signed by the three companies aims to prepare Canada for the introduction of fuel cell vehicles, expected to hit the market in 2004. The collaboration will involve a five-year pilot project to establish a demonstration pilot program for fuel cell vehicles, including the supply, distribution, and marketing of methanol fuel.

Key Takeaways:

  • The partnership between Petro-Canada, Ballard Power Systems, and Methanex aims to develop a network for distributing methanol as a clean, affordable fuel source for fuel cell vehicles in Canada.
  • The Memorandum of Understanding signed by the three companies will guide a five-year pilot project to establish a demonstration pilot program for fuel cell vehicles.
  • The collaboration involves the supply, distribution, and marketing of methanol fuel, with a focus on making Canada a leader in alternative fuel technology.
  • Petro-Canada brings its established marketing and distribution expertise and national network of retail outlets to the partnership.
  • Ballard Power Systems will contribute its world-renowned fuel cell technology, while Methanex will provide its expertise in methanol production and marketing.
  • The three companies will collaborate in identifying a pilot site involving auto manufacturers and implementing the emerging technology at the consumer level.
  • The partnership has the support of the Canadian government, with Federal Natural Resources Minister Ralph Goodale and British Columbia Environment, Lands, and Parks Minister Cathy McGregor attending the announcement.

Statistics:

  • Petro-Canada operates a coast-to-coast network of 1700 retail outlets across Canada.
  • Petro-Canada has over 4,500 employees and is committed to giving back to the community in the areas of environmental sustainability, education, and the arts.
  • Ballard Power Systems has secured partnerships with major automotive companies, including DaimlerChrysler and Ford Motor Company, for its fuel cell technology.
  • Methanex is the global leader in methanol production and marketing, with a presence in both Canada and the United States.
  • The partnership plans to establish a demonstration pilot program for fuel cell vehicles over a five-year period.
  • The expected market launch for fuel cell vehicles in Canada is set for 2004.

Sources:

  • Petro-Canada news release dated June 11, 2003
  • Ballard Power Systems news release dated June 11, 2003
  • Methanex news release dated June 11, 2003