On May 2, 2001, Ballard Power Systerms Inc. formed an exclusive joint development agreement with MicroCoating Technologies, Inc. (“MCT”) for the development of a chemical vapour deposition process for use in the manufacture of fuel cells. In connection with the transaction Ballard also acquired shares of convertible preferred stock of MCT for US $7 million. Ballard relied on their in-house counsel, Stephanie Chan, and Noordin Nanji (VP, Strategic Development). Ballard was represented by a legal team from Lang Michener’s Vancouver office consisting of Amyn Abdula, assited by Charlotte Olsen and Barbara Snyder. John Gaffney and Doug Ryder from Cravath, Swaine & Moore (New York) provided Ballard with United States legal counsel. MCT was represented by Susan Spencer from Morris manning Martin LLP.
