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Meldungen 21.08.2006

21.8.2006: Meldung: Hydrogenics Joins Plug-In Hybrid Consortium

The Plug-In Hybrid Development Consortium (the "Consortium") announced today that Hydrogenics, (Nasdaq:HYGS), a world leading provider of hydrogen and fuel cell products, joined the Hybrid Consortium to participate in the development of plug-in hybrid vehicles. The Consortium is made up of a growing number of automotive suppliers, manufacturers and other organizations working together to accelerate the commercial production of Plug-in Hybrid Electric Vehicles, (PHEVs).

 

"Hydrogenics is pleased to join the Consortium to explore how plug-in hybrid architecture can be a viable platform for advancing the affordability and commercialization of hydrogen fuel cell vehicles. We look forward to joining efforts to deliver cleaner transportation alternatives that reduce our dependency on petroleum," said John Werderman, Vice President Business Development for Hydrogenics.

 

Plug-in hybrid architecture provides a logical, accelerated path toward the commercialization of fuel cell technology. This is primarily because an optimized battery-dominant plug-in hybrid vehicle allows the size of the fuel cell system to be kept to a minimum, keeping overall system and vehicle cost down. Furthermore, a battery-dominant fuel cell PHEV allows the best of fuel cell and battery technologies to co-exist in one vehicle with extended driving range, zero emissions, and domestically produced fuel.

 

"We are pleased to welcome Hydrogenics to the Consortium," said Brian Stokes co-founder of the Consortium and Manager of Clean Air Transportation for Pacific Gas&Electric (NYSE:PCG). "Its insights and capabilities enrich our collaborative efforts to advance PHEV solutions," continued Stokes.

 

"The Consortium sees this as a valuable opportunity to demonstrate the flexibility of the plug-in hybrid architecture and the potential viability of the hydrogen fuel cell as a source of cleanly generated mobile electric power for a PHEV," added David West, co-founder of the Hybrid Consortium and VP Marketing, Raser Technologies, Inc. (NYSE Arca:RZ).

 

About PHEVs

 

PHEVs are dual-mode hybrids that can run on low cost electric fuel or gasoline. Plug-in Hybrids can deliver dramatic improvements in fuel economy by driving their first 25 to 50 miles on clean renewable electric fuel for about 1/4 the price of gasoline before turning on the combustion engine. Many experts contend that wide spread use of plug-in hybrids could significantly contribute to the reduction of emissions and dependency on foreign oil.

 

About Hydrogenics

 

Hydrogenics Corporation (Nachrichten) (www.hydrogenics.com) is a leading global developer of clean energy solutions, advancing the Hydrogen Economy by commercializing hydrogen and fuel cell products. The company has a portfolio of products and capabilities serving the hydrogen and energy markets of today and tomorrow. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in North America, Europe and Asia.

 

About The Plug-in Hybrid Development Consortium.

 

The Plug-In Hybrid Development Consortium was organized to help reduce the R&D gap between component suppliers and OEMs. The Consortium intends to work with automobile manufacturers by coordinating and accelerating the development of hybrid components and demonstrate these advanced technologies in "next generation" plug-in hybrid electric vehicles. Membership is divided into two groups, developers and advisors.

 

Contact:

Lawrence Davis, Chief Financial Officer

(905) 361-3633

ldavis@hydrogenics.com

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