Hydrogenics: Contract for Fuel Cell Powered Boat
Hydrogenics Corporation, a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced that the company has been awarded a contract to supply the United Nations Industrial Development Organization (UNIDO) with six HyPM™ HD8 fuel cell power modules for a boat project coordinated by the International Centre for Hydrogen Energy Technologies (ICHET) in Istanbul, Turkey. Hydrogenics will also supply carbon composite hydrogen storage tanks and components, other auxiliaries and spare parts for two years of operation to ICHET, which is overseeing the integration.
This contract follows on the award in 2009 of four HyPM™ HD12 fuel cell power modules for a passenger boat application ordered by the engineering organization BELBIM A.S. for Istanbul's Municipal Transit Authority, in which UNIDO-ICHET participated as a hydrogen and fuel cell consultant.
"Hydrogenics has slowly worked to pave a presence in fuel cell powered water mobility applications, starting with our Venice water taxi project several years ago," said Daryl Wilson, President and CEO. "As in other important end markets, our efforts are now bearing fruit, and we look forward to working with ICHET on this integrated hydrogen system."
Additional information on ICHET can be found at http://www.unido-ichet.org/ichet.org/index.html.
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