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Hydrogenics and LiftOne team up in South Carolina Pilot Deployments of Fuel Cells in Forklifts $12 Billion Materials Handling Sector Presents Emerging Opportunity
MISSISSAUGA, ONTARIO and COLUMBIA, SOUTH CAROLINA--Jan 9, 2007 -- Hydrogenics Corporation (TSX:HYG.TO)(NASDAQ:HYGS), a leading designer and manufacturer of hydrogen and fuel cell systems, and LiftOne, a division of Carolina Tractor, have received an award to assist in the deployment of hydrogen fuel cells in forklifts at several manufacturing facilities in South Carolina. The project is an initiative of The Greater Columbia Fuel Cell Challenge, in support of Columbia's efforts to become a centre of expertise in the development of fuel cell hybrid technology for use in the manufacturing and distribution sectors. LiftOne has engaged and has received acceptance by several prominent manufacturers and distributors in the greater Columbia market areas to demonstrate the advantages of Hydrogenics HyPX™ Fuel Cell Power Packs in two Class 1 lift trucks furnished by LiftOne. These end-users and their third party logistics providers cover a wide range of products from tires, to food products, from beverages to fiber components and automotive componentry. A mobile hydrogen refueler will be supplied for refueling.
The deployments are expected to begin in late spring 2007 and to be completed by November 2007. In addition to this new initiative, Hydrogenics will be commencing a two year deployment of 19 forklift trucks this summer at General Motor's of Canada in Oshawa, Ontario.
"This project, enabled by The Greater Columbia Fuel Cell Challenge, enables key target customers the opportunity to evaluate the benefits of HyPX fuel cell solutions for their lift trucks in their own facilities," said Daryl Wilson, Hydrogenics President and Chief Executive Officer. "It is important that end-users see first-hand the productivity and performance improvements these power packs provide, and to appreciate the operational benefits they enable, such as eliminating the need for battery rooms that can occupy valuable space within a facility. We have already seen the success of initial pilot deployments of our HyPX Fuel Cell Power Pack product in real-time operations. Our next step is to expand the deployment of this product to new potential customers. As our recently announced HyPX distributor, LiftOne is a key player in this project with us and we look forward to this immediate opportunity to put our newly penned distributorship agreement to work."
"Besides being a clean technology, hydrogen fuel cells offer significant productivity benefits over other forklift power options," said Bill Ryan, Vice President and General Manager of LiftOne. "Through the Greater Columbia Fuel Cell challenge we will now be able to demonstrate these benefits to our customers in a real life situation."
"This partnership is yet another asset to Columbia's continued growth as a leader in the future of fuel cell technology," said City of Columbia Mayor, Bob Coble. "This public-private partnership between the Greater Columbia Fuel Cell Challenge, Hydrogenics and Lift-One brings endless possibilities to our city through the potential growth in knowledge based jobs and opportunities within the Fuel Cell District and beyond."
The size of the $12-billion materials handling sector, where 749,000 forklift trucks were sold in 2005, represents an excellent near-term market opportunity for Hydrogenics.
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, Europe and Asia.
About LiftOne
LiftOne, A Division of Carolina Tractor (www.LiftOne.net) is a full-service material handling dealership, providing equipment solutions to move and store customers' product. LiftOne offers new and used equipment, as well as a large fleet of equipment ready-to-rent. With a service staff of over 130 highly trained technicians, LiftOne services most brands of material handling equipment at customer locations. LiftOne's product brand lineup includes: Cat® Lift Trucks, Linde Lift Trucks, Ottawa/Kalmar, Komatsu, LiftKing, and others.
About The Greater Columbia Fuel Cell Challenge
USC, the City of Columbia, the South Carolina Research Authority and Engenuity SC have organized the Greater Columbia Fuel Cell Challenge (www.fuelcellchallenge.com) to collaborate with private sector leaders from all areas of the fuel cell market for the unprecedented deployment of fuel cell and alternative energy technology into multiple city, university and commercial applications throughout the region.
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Hydrogenics Signs Distribution Agreement with Heliocentris 1/15/2007 7:00:59 AM
MISSISSAUGA, ONTARIO, Jan 15, 2007 (MARKET WIRE via COMTEX) -- Hydrogenics Corporation ( HYGS )( HYG ), a leading designer and manufacturer of hydrogen and fuel cell systems, today announced it has entered into a distribution agreement with Heliocentris Fuel Cells AG, a leading company in the development and distribution of fuel cell and hydrogen technology to education, scientific and demonstration markets. Under the agreement, Heliocentris will now add Hydrogenics' fuel cell power modules and small-scale PEM electrolysers to its product mix.
Europe-based, with worldwide sales channels through direct sales and agents, Heliocentris sells products and services to schools, universities and industry. Through this partnership with Hydrogenics, Heliocentris is now equipped to be a solution provider for customers that demand a higher power range, from 4kW -16kW.
"Without any special design iterations on our part, the HyPM Fuel Cell Power Module offers a fully integrated packaged unit that ideally meets the needs of Heliocentris," commented Daryl Wilson, Hydrogenics President and Chief Executive Officer. "We expect this arrangement to provide an interesting revenue-generating niche for Hydrogenics. At the same time, another important objective for us is to educate and foster a working knowledge of hydrogen and fuel cell technologies worldwide. We can expect such users to take this product in many directions that are not part of our current focus, and we welcome this."
"To meet our growing needs for fuel cell power modules in a higher power range, we evaluated a number of potential partners," commented Dr. Henrik Colell, CEO Heliocentris. "The inclusion of Hydrogenics' modular designed fuel cell power modules in our product portfolio enables us to develop and offer complete system solutions to our current education customers as well as to early adopters in industry. We very much look forward to expanding our business opportunities around the HyPM product."
About Heliocentris
As a pioneer in the fuel cell industry, Heliocentris has over ten years experience in the production of fuel cell products. Heliocentris focuses on Education and Science markets worldwide with more than 10,000 end customers in over 50 countries. Heliocentris is one of the global leaders in this field. Clients can choose from over 30 products divided into 6 product lines ranging in complexity from basic fuel cell kits to complete lab equipment. Heliocentris plans continued growth through innovative new product development for the education market as well as through fuel cell systems designed for industrial applications. Heliocentris is headquartered in Berlin, with a subsidiary located in Vancouver, Canada for coverage of the North American market. For more information please visit: www.heliocentris.com.
About Hydrogenics
Hydrogenics Corporation ( www.hydrogenics.com) is a leading global developer of clean energy solutions, advancing the Hydrogen Economy by commercializing hydrogen and fuel cell products. The company has a portfolio of products and capabilities serving the hydrogen and energy markets of today and tomorrow. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in North America, Europe and Asia.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
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.
Contacts: Investor Contact: Hydrogenics Corporation Lawrence Davis Chief Financial Officer (905) 361-3633 Email: investors*hydrogenics.com
Media Contact: Hydrogenics Corporation Jane Dalziel, Director of Corporate Communications (905) 361-3639 Email: media*hydrogenics.com Website: www.hydrogenics.com
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Press Release for Hydrogenics Corp Hydrogen Power, ISE-CCM Index Performers Poised To Grow, With US Oil Vulnerable To Supply Disruptions And Price Spikes, Says Investrend Analyst Piyali Chakravarty In Q3 Alternative Energy Sector Report 11/17/2006 12:04:25 PM
A Hydrogen Power International and ISE-CCM Alternative Energy Index Performers Poised To Grow, US Oil Increasingly Vulnerable To Supply Disruptions And Price Spikes, Says Investrend Research Analyst Piyali Chakravarty In Q3 Alternative Energy Sector Report
NEW YORK, Nov 17, 2006 (BUSINESS WIRE) -- (Investrend Research Syndicate) Alternative Energy Sector spotlight company Hydrogen Power International ( HYDP ), and ISE-CCM Alternative Energy Index components Altair Nanotechnologies ( ALTI ), Central Vermont Public Service Corp ( CV ) and Hydrogenics Corp ( HYGS ) are among public companies poised to grow as US consumes 25 percent of the world's oil with just 2 percent of its proven reserves, making the US economy increasingly vulnerable to supply disruptions and price spikes, according to Investrend Research analyst Piyali Chakravarty In Q3 Alternative Energy Sector Report.
"The Alternative Energy Sector is poised for future growth as evident from macroeconomic factors, worldwide government initiatives, tremendous interest from the private sector and venture capitalists and growing demand for energy from China and India. Four clean energy technologies- biofuels, wind, solar, fuel cells are in total projected to grow to $167 billion by 2015, according to Clean Edge Research. Emerging growth trends like cutting edge silicon technologies, portable power race and security industry applications as well as green vehicles powered by flex fuels are expected to bolster further growth of the sector. Alternative Energy Indices have outperformed broad market indices over the past year. Although many alternative energy companies are still in the development phase of their product life cycle and many challenges continue to prevail for alternative energy players, companies with interesting products can capture market share and grow to become viable investment opportunities."
The coverage, commissioned by Cronus Capital Markets ( http://www.cronuscapitalmarkets.com), and which provides the Alternative Sector index in partnership with International Securities Exchange ( ISE ), will be updated quarterly, and is the first to continuously monitor the Alternative Energy sector.
The report is available in its entirety; along with the Hydrogen Power (formerly Equitex Inc.) Sector Spotlight at http://www.investrendresearch.com
The analyst for the Hydrogen Power (formerly Equitex Inc.) Sector Spotlight is Oren Meytes, CFA.
Enrollment in standards-based research is an important measure of a company's commitment to transparency and Good Governance. Investrend Research's pioneering program facilitates independent analysts to provide coverage for shareholders in companies that otherwise would have little or no analyst following. Investrend subscribes to the "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com, and its research is enrolled for investor monitoring by the not-for-profit Shareholders Research Alliance, Inc. ( http://www.shareholdersresearch.com).
Enrollment fees for Spotlight Analytics coverage are $4,000 per quarter and the fees were paid by Hydrogen Power. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor employees of Investrend Research may own or trade stocks of companies under coverage.
Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.
Anyone interested in receiving alerts regarding Alternative Energy research should email contact*investrend.com with "ALT" in the subject line.
Anyone interested in receiving alerts regarding Hydrogen Power International research should email contact*investrend.com with "HYDP" in the subject line.
SOURCE: Hydrogen Power International Investrend Research Div. Investrend Communications, Inc. R. Hempel, 718-896-5060 contact*investrend.com http://www.investrendresearch.com or Cronus Capital Markets. Michael Soni, CEO, 416-368-3700 http://www.cronuscapitalmarkets.com query*cronuscapitalmarkets.com
Copyright Business Wire 2006
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