MISSISSAUGA, ONTARIO--(CCNMatthews - Jan. 15, 2007) - Hydrogenics Corporation (NASDAQ:HYGS)(TSX: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."
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.
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.
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