9.12.2002: Meldung: NRCan Selects Hydrogenics to Lead Development Of Fuel Cell-Powered Bus
"We are very excited to have the opportunity to apply our fuel cell power module technology and system integration leadership to this NRCan bus project," said Pierre Rivard, Hydrogenics president and CEO. "NRCan has invested considerable resources in fuel cell initiatives over the years, and we are very confident that, with this continued support, Hydrogenics can enhance the value of that investment by bringing commercially viable applications closer to reality."
Under the terms of the agreement with NRCan, Hydrogenics" HyPM power module will be integrated into a next- generation technology bus demonstration. A major difference between this bus project and earlier projects is Hydrogenics" proprietary vehicle-to-grid technology. This vehicle-to-grid capability enables a vehicle"s power supply to provide off-board power and power to the electrical grid, while the vehicle is sitting idle. The company has been developing technology around the concept of using vehicles as a source of distributed power and has been aggregating key intellectual property in this area over the past two years.
"We believe the potential of using fuel cell vehicles as a source of clean power creates a tremendous value proposition for utility markets in the future," said Mr. Rivard. "The first opportunities may be in those parts of the world, with emerging economies, that do not have an existing infrastructure for the distribution of electricity."
Another distinct feature of this 40-foot transit bus will be the use of ultracapacitors for peaking demands and regenerative braking. Ultracapacitors have demonstrated a higher recovery of energy from braking than batteries, and are considerably lighter. They also have a longer economic life and are more environmentally friendly in their manufacture and disposal.
Hydrogenics" design incorporates other novel features that may prove to be advantageous by capitalizing on the inherent scalability and modularity of fuel cells. Rather than designing a singular 180 kW power module in the rear engine compartment where it exerts an excessive load on the rear wheel axle, Hydrogenics" design will incorporate a distributed array of discrete power modules, resulting in higher reliability, maintainability and flexibility for both grid and road power. Hydrogen fuel will be stored in high-pressure storage tanks.
In addition to the support from NRCan for this project, other participants and contributors include New Flyer Industries, Dynetek Industries Ltd., ISE Research, Maxwell Technologies and the Province of Manitoba.
Hydrogenics Corporation (http://www.hydrogenics.com) is a designer and developer of commercial proton exchange membrane (PEM) fuel cell systems for transportation, stationary and portable power applications. The company is a leader in fuel cell balance-of-plant and operating system technology and is applying this extensive knowledge and expertise to the development and manufacture of fuel cell power modules and fully integrated power generators. Hydrogenics" 95,000 square foot headquarters and R&D facility is located in Mississauga, Ontario, Canada. The Company also has operations in Japan, United States, and Germany. Hydrogenics is a member of the GM fuel cell alliance of fuel cell commercialization companies.
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 are subject to 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" Form 20F filed with the Securities and Exchange Commission on June 26, 2002 for a more complete discussion of factors that could affect Hydrogenics" future performance. 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.
Hydrogenics Corporation - Canada
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