22.11.04

22.11.2004: Meldung: Hydrogenics Receives Contract and Demonstrate Fuel Cell Hybrid Bus

Hydrogenics Corporation a designer and manufacturer of hydrogen and fuel cell systems, announces that it has been contracted by the Ministry for Transport Energy and State Planning of the State North-Rhine-Westphalia (NRW), Germany, to develop a fully operational electric hybrid "midi-bus". The propulsion system of the 17 foot European-manufactured bus platform will be based on Hydrogenics" high performance fuel cell hybrid design that integrates HyPM® power module technology. Also under the terms of the contract, Hydrogenics will supply full scale testing and select demonstrations in NRW. The contract is a cost share arrangement in which NRW will fund 50% of the project cost up to euro 566,000 (approximately $US 735,000).

"This is an exciting opportunity for Hydrogenics as we undertake our first European fuel cell integration project in an effort to advance the commercialization of fuel cell technology in this key region," said Pierre Rivard, Hydrogenics president and CEO. "It is very gratifying that NRW has recognized the strengths of Hydrogenics" technology and technical support. From the time of our acquisition of ENKAT in 2002, NRW"s progressive stance on new energy technologies and international collaboration has made them an important partner for Hydrogenics. In the context of this project, the State has voiced some exciting ambitions around the demonstration and deployment of zero-emission transit technology and we would like very much to be there with them as they strive for these outcomes."

The project and its assessment will take place over a one-year period. Demonstrations are expected to be underway by the middle of next year.

About Hydrogenics

Hydrogenics Corporation (http://www.hydrogenics.com) is a leading clean power generation company, engaged in the commercialization of fuel cell technology and test stations for fuel cells. The company is building a sustainable business, in a potentially "game changing technology" for transportation, stationary and portable power. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in British Columbia, Canada, Japan, the United States and Germany.

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 cautionary statement.


Contact:

Hydrogenics Corporation
5985 McLaughlin Rd.
MISSISSAUGA, Ontario
L5R 1B8

Telephone: (905) 361-3660
Fax: (905) 361-3626
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