14.12.2005: Meldung: Hydrogenics Sells Hydrogen Refueler to Korean Gas Technology
"KOGAS-Tech is quickly becoming a leader in hydrogen and alternative energies. As this refueler will be one of the first in South Korea, KOGAS-Tech will play a major role in demonstrating the potential of hydrogen technologies," said Pierre Rivard, President and CEO, Hydrogenics Corporation. "Hydrogen refueling stations are paving the way for the hydrogen economy and hydrogen generation continues to be a major focus for our organization."
Hydrogenics is a world leader in on-site electrolysis-based generation with a strong reach into the industrial and energy markets worldwide. This natural gas-based product will complement the Company"s product offering and is expected to expand revenues in areas where the economics are more favorable to natural gas-based generation than to electricity-based generation.
The reformer will be able to generate 65 kilograms of hydrogen a day, which is enough to refuel approximately 20 fuel cell powered vehicles. The reformer and refueling system is anticipated to be delivered and installed by June 2006.
"We chose Hydrogenics because of the company"s experience in the system integration of reformer-based refueling stations, as well as the high efficiency of their packaged reformer product," said Mr. Jong Hyun Shin, President and CEO, KOGAS-Tech. "KOGAS is the world"s largest importer of liquefied natural gas and is committed to protecting the environment. Demonstrating and innovating with a clean technology like hydrogen is a natural step for our company."
Hydrogenics Corporation 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.
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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. Hydrogenics Corporation.
Lawrence Davis, Chief Financial Officer