Hydrogenics Awarded Contract for German Fueling Station
March 25 2010 - 7:30AM
Hydrogenics Corporation (Nasdaq:HYGSD) (TSX:HYG) ("Hydrogenics" or
the "Company"), a leading developer and manufacturer of hydrogen
generation and fuel cell products, today announced that the company
has been awarded a contract for two HySTAT-60 electrolyzers by The
Linde Group (Frankfurt:LIN.F) for installation as part of a fueling
station in HafenCity, Hamburg. The fueling station will be
integrated and managed by Vattenfall, the Swedish power
conglomerate and one of Europe's leading energy producers. In
Germany, Vattenfall is the third-largest producer of electricity,
serving the states of Hamburg, Mecklenburg-Vorpommern, Brandenburg,
Berlin, Saxony-Anhalt, Thuringia, and Saxony.
The HafenCity fueling station is expected to supply hydrogen for
both cars and buses, including the new Mercedes Citaro
zero-emission fuel cell bus. The project is part of the Clean
Energy Partnership in Hamburg and Berlin, supported by the German
government as part of the National Innovation Program for hydrogen
and fuel cell technology. The Hydrogenics HySTAT-60 units
will, combined, produce about 260 kilograms of fuel daily, and
Linde will supplement this capacity with delivered hydrogen as
needed. Commissioning of the completed station, in a
redesigned industrial park within the city center, is expected in
2011. Additional information on HafenCity can be found at
http://en.hafencity.com.
"This most recent award continues to highlight Hydrogenics' key
role in supporting Germany's ambitious hydrogen vision," said Daryl
Wilson, President and CEO. "Hydrogenics is one of the largest
suppliers of hydrogen fueling stations, with over 35 facilities
across the globe, and we are proud to play a part in Germany's
strategy to build the infrastructure – including hundreds of
stations – necessary for a cleaner, more fuel-efficient
economy. This contract is indicative of the many opportunities
currently being pursued in Europe and elsewhere, as the benefits of
hydrogen gain greater acceptance worldwide."
ABOUT HYDROGENICS
Hydrogenics Corporation (www.hydrogenics.com) is a globally
recognized developer and provider of hydrogen generation and fuel
cell products and services, serving the growing industrial and
clean energy markets of today and tomorrow. Based in Mississauga,
Ontario, Canada, Hydrogenics has operations in North America and
Europe.
This release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Law of 1995. These statements are
based on management's current expectations and actual results may
differ from these forward-looking statements due to numerous
factors, including changes in the competitive environment adversely
affecting the products, markets, revenues or margins of
Hydrogenics' business. Readers should not place undue reliance on
Hydrogenics' forward-looking statements. Investors are
encouraged to review the section captioned "Risk Factors" in
Hydrogenics' regulatory filings with the Canadian securities
regulatory authorities and the United States Securities and
Exchange Commission for a more complete discussion of factors that
could affect Hydrogenics' future performance. Furthermore, the
forward-looking statements contained herein are made as of the date
of this release, and Hydrogenics undertakes no obligations to
revise or update any forward-looking statements in order to reflect
events or circumstances that may arise after the date of this
release. The forward-looking statements contained in this release
are expressly qualified by this.
CONTACT: Hydrogenics Corporation
Lawrence Davis, Chief Financial Officer
(905) 361-3633
investors@hydrogenics.com
Darrow Associates
Investor Relations Contact:
Chris Witty
(646) 438-9385
cwitty@darrowir.com
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