Hydrogenics: Contract with Vision Industries
Hydrogenics Corporation, a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced that it has received a contract to provide HyPM 16 fuel modules for use in zero emission class 8 short haul trucks being developed by Vision Industries Corp. of California. Vision's Tyrano(TM) truck is thought to be the world's first plug-in electric/hydrogen fuel cell powered heavy duty class 8 vehicle. The contract calls for Hydrogenics' HyPM fuel modules to be delivered in two stages. The initial units will be used to complete testing and demonstrate the vehicles in and around the Port of Los Angeles and Port of Long Beach. Second stage deliveries will be dependent on purchase orders for the trucks being received by Vision. With the Los Angeles basin heavily polluted by commercial trucking operations, the Ports have implemented a Clean Truck Program to replace older, inefficient, traditional means of transportation by the end of 2012 with clean energy alternatives.
"We are pleased to have been chosen by Vision Industries to provide the fuel cells for a vehicle that may one day lead to a much cleaner environment in the Los Angeles area," said Daryl Wilson, President and CEO. "While the ports of Los Angeles and Long Beach serve as busy shipping hubs, the resulting air pollution has been an environmental problem for decades, impacting the quality of life in Southern California. With Vision's innovative Tyrano(TM) trucks, significant cost savings and cleaner air could be realized in a relatively short period of time. We look forward to working with Vision and the State of California on this very worthwhile endeavor."
For more information on California's Clean Truck Program, see www.portoflosangeles.org/environment/ctp.asp.
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.
ABOUT VISION INDUSTRIES
Vision is a provider of hydrogen fuel cell/plug-in electric powered vehicles and turnkey hydrogen fueling systems. Vision's proprietary hydrogen fuel cell/plug-in electric drive system combines the superior acceleration of a battery powered electric vehicle with the extended range provided by a hydrogen fuel cell. Vision uses major manufacturers as partners or sub contractors to produce its vehicles. This business approach avoids massive outlays of startup capital. Many regional, state and federal alternative energy programs in the form of grants, subsidies, tax credits and loans exist or are planned. For more information on Vision Industries Corp., please visit www.visionindustriescorp.com.
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.
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