Hydrogenics Wins Two Hydrogen Fueling Stations in California and the United Kingdom
A Total of Nine Stations Awarded in 2014
MISSISSAUGA, Ontario - Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG) ("Hydrogenics" or "the Company"), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel cell power modules, today announced that it has been awarded contracts to supply two 700 bar hydrogen fueling stations -- one by Ontario CNG in California and another by Aberdeen City, Scotland. These wins bring to nine the total number of hydrogen station contracts secured during 2014, the vast majority of which will be shipped and recognized as revenue in 2015.
"This has truly been a banner year for Hydrogenics in terms of fueling station awards, which point to the growing demand for fuel-cell powered vehicles worldwide and further strengthens our business outlook heading into 2015," said Daryl Wilson, CEO of Hydrogenics. "We are excited to join efforts with station owner Ontario CNG to deploy equipment in southern California and also provide a complete fueling station to Aberdeen City, Scotland. Both California and the UK are important markets for Hydrogenics, and they are clearly taking the lead in embracing a zero-emission hydrogen-based infrastructure. Hydrogenics is now involved in the building and servicing of over 10 fueling stations in California and 45 stations worldwide, and these latest awards demonstrate that we have the right technology and expertise to continue being a leader in this market as it gathers momentum in the years to come."
In California, Hydrogenics partnered with station owner Ontario CNG, which was awarded a contract by the California Energy Commission to supply hydrogen fueling capability at an existing "76" fuel and electric charging location. The station will produce hydrogen without any carbon footprint by using Hydrogenics' electrolyzer and certified renewable electricity.
In the United Kingdom, Hydrogenics was awarded a contract to supply a turnkey 350/700 bar hydrogen fueling station by Aberdeen City, in Scotland. The station is part of the Aberdeen City Hydrogen Energy Storage (ACHES) project and also includes a HyPM®10 kW fuel cell. Up to 130 kilograms of hydrogen per day will be produced on-site using the Company's HySTAT™ electrolyzer; Hydrogenics is also under contract to maintain the equipment for the first four years of operation.
The UK ACHES project was partly funded by the European Regional Development Fund and the INTERREG North Sea Region Programme, with matched funding provided by Aberdeen City Council. The City of Aberdeen has put in place an "H2 Aberdeen" initiative which aims to bolster a hydrogen economy and stimulate innovative projects to position the area as a center of excellence for hydrogen technology.
About Hydrogenics
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.
