Hydrogenics Receives Fuel Cell Order from Hydrogen Forklift Developer
To be Used by North American Big Box Retailer
MISSISSAUGA, Ontario - Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG) ("Hydrogenics" or the "Company"), a leading developer and manufacturer of hydrogen generation technology and hydrogen fuel cell power modules, today announced that it has been awarded almost $2 million in orders for fuel cell power modules by a US-based developer of hydrogen powered forklifts. The customer will, in turn, supply its forklifts to a large logistics center for a North American big box retailer. The fuel cells are expected to be shipped in the first quarter of next year, and follow-on orders are anticipated to support the scale up of forklifts at the retailer prior to the end of 2016.
"We are very pleased to announce these recent orders for our fuel cell technology," said Daryl Wilson, Hydrogenics CEO. "The market for hydrogen-powered forklift equipment in North America is attracting new equipment integration firms and forklift OEMs to provide robust, reliable and commercially viable material handling equipment that can operate under a wide range of environments. Hydrogenics' standard heavy duty fuel cell power modules can be put to work across a variety of applications, and our simple package makes it easy for vehicle integrators to incorporate into their products – whether it be for cars, buses or, in this case, forklifts. With over a decade of direct experience, Hydrogenics is well positioned to serve multiple players in this sector as it grows."
Hydrogenics fuel cell packages are engineered to be easy for OEMs and integrators to incorporate into their forklift equipment. Over the past ten years, forklifts with Hydrogenics fuel cells on board have operated in various locations across North America – from car assembly plants and airport distribution centers to military bases. The Company's fuel cells offer unique attributes which provide enhanced features such as unlimited start and stops, as well as the ability to start up in -10 degrees Celsius, with no added air compressors and humidification equipment required.
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.
