Hydrogenics Awarded CAD$3.8 Million Energy Storage Contract
220 Admiral Blvd
Mississauga, ON, L5T2N6
Press release date: January 16, 2014
MISSISSAUGA, Ontario – Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG) ("Hydrogenics"), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced it has been awarded a CAD$3.8 million contract to supply a micro-grid energy storage application in Canada.
This energy storage project will store surplus wind energy as hydrogen using a Hydrogenics HySTAT60™ electrolyzer operating at 320 kW of energy absorption. The hydrogen will be stored on-site and then converted back to energy when needed using a Hydrogenics HyPM-R200™ fuel cell system generating 200kW of energy. This project, when complete, will replace a current system that uses diesel generation thus resulting in a much lower carbon footprint.
"We are pleased that Hydrogenics' electrolyzer and fuel cell technology is being used for micro-grid energy storage in Canada," said Daryl Wilson, Hydrogenics' CEO. "We believe that this project paves the way for larger clean energy generation and storage opportunities in remote communities such as those in the Canadian North and elsewhere that are not connected to a broader power grid."
Hydrogenics expects to deliver this project in late 2014.
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.
Chief Financial Officer
Hydrogenics Investor Relations