Hydrogenics Joins German H2FLY Consortium to Enable Zero-Emission Passenger Flights Using Fuel Cell Technology
October 15 2015 - 6:30AM
Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG)
("Hydrogenics" or "the Company"), a leading developer and
manufacturer of hydrogen generation and hydrogen-based power
systems, announced this week that it has joined with a consortium
of companies to develop the world's first zero-emission four-seater
passenger plane. The announcement was made at the International
Trade Fair World of Energy Solutions in Stuttgart, Germany on
October 12, 2015.
Hydrogenics joins with partners; the DLR Institute of Technical
Thermodynamics, the University of Ulm, aircraft manufacturer
Pipistrel, and the airport of Stuttgart in the consortium named
H2FLY. The consortium's vision is the advancement of
emission-free electrified flight with hydrogen. The aircraft,
named HY4, will make its maiden flights from its home base at the
Stuttgart Airport in the summer of 2016.
Emission-free, faster, higher and further
"With the HY4 we want to bring electric mobility to the air,
demonstrating the feasibility of this technology and identify
specific fields of application in passenger transport," explained
Prof. Josef Kallo, Electric Fly Coordinator for DLR.
The HY4 electric motor has an output of 80 kilowatts, a top
speed of around 200 km/h and a cruising speed of 145 kilometers per
hour. Depending on speed, altitude and load a range, 750 to 1500
kilometers are possible. The striking feature of HY4 is its two
hulls, which are connected to each other very firmly on the wings.
This twin-hull design allows optimum distribution of drive
components and a higher overall payload. In each of the two hulls
two passengers have space. The maximum weight of the HY4 is 1500
kg. The main energy source is a low-temperature PEM fuel cell from
Hydrogenics. This converts hydrogen and air into water and
electrical energy. In cruise flight, the fuel cell supplies the
electric motor reliably with electricity.
"We are very pleased to be part of this consortium. Hydrogenics
has a history of supporting and partnering on aviation projects in
Europe. From the power system for an A320 nose wheel electric drive
in 2010 to the 2012 hydrogen propulsion system we provided DLR for
their Antares H2 single seater plane, Hydrogenics is a proud
supporter of bringing the benefits of it's technology to the
air. With the HY4, a small passenger plane, we will achieve an
important milestone for Hydrogenics and for general aviation," said
Daryl Wilson, CEO of Hydrogenics.
Electric Air Taxis: Regional Transport as an entry
scenario
One of the first real-world applications is German and European
regional air traffic. "Our goal is to use aircrafts such as the HY4
as Electric Air Taxis to link cities and offer faster alternatives
to existing transport routes," said Kallo. Especially for shorter
distances, electric drives are very well suited because they are
low-noise and low emission and can also start on short runways and
land due to its high torque. With more than 60 regional and
international airports, Germany has an existing well-developed,
extensively distributed network and the appropriate infrastructure
for the realization of this approach. Prof. André Thess, Director
of the DLR Institute of Technical Thermodynamics commented: "The
four-seat electric aircraft HY4 fits perfectly with our strategy to
develop synergies between electromobility on the road and in the
air."
The HY4 project partners
Under the guidance of the DLR Institute of Technical
Thermodynamics, which is also responsible for the overall
integration of the powertrain, several partners have joined forces:
the fuel cell manufacturer Hydrogenics, the aircraft manufacturer
Pipistrel, the University of Ulm as a scientific partner and the
airport of Stuttgart as homebase for the HY4.
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.
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 Act of 1995, and under applicable
Canadian securities law. These statements are based on management's
current expectations and actual results may differ from these
forward-looking statements due to numerous factors, including: our
inability to increase our revenues or raise additional funding to
continue operations, execute our business plan, or to grow our
business; inability to address a slow return to economic growth,
and its impact on our business, results of operations and
consolidated financial condition; our limited operating history;
inability to implement our business strategy; fluctuations in our
quarterly results; failure to maintain our customer base that
generates the majority of our revenues; currency fluctuations;
failure to maintain sufficient insurance coverage; changes in value
of our goodwill; failure of a significant market to develop for our
products; failure of hydrogen being readily available on a
cost-effective basis; changes in government policies and
regulations; failure of uniform codes and standards for hydrogen
fuelled vehicles and related infrastructure to develop; liability
for environmental damages resulting from our research, development
or manufacturing operations; failure to compete with other
developers and manufacturers of products in our industry; failure
to compete with developers and manufacturers of traditional and
alternative technologies; failure to develop partnerships with
original equipment manufacturers, governments, systems integrators
and other third parties; inability to obtain sufficient materials
and components for our products from suppliers; failure to manage
expansion of our operations; failure to manage foreign sales and
operations; failure to recruit, train and retain key management
personnel; inability to integrate acquisitions; failure to develop
adequate manufacturing processes and capabilities; failure to
complete the development of commercially viable products; failure
to produce cost-competitive products; failure or delay in field
testing of our products; failure to produce products free of
defects or errors; inability to adapt to technological advances or
new codes and standards; failure to protect our intellectual
property; our involvement in intellectual property litigation;
exposure to product liability claims; failure to meet rules
regarding passive foreign investment companies; actions of our
significant and principal shareholders; dilution as a result of
significant issuances of our common shares and preferred shares;
inability of US investors to enforce US civil liability judgments
against us; volatility of our common share price; and dilution as a
result of the exercise of options; and failure to meet continued
listing requirements of Nasdaq. 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 US 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, unless otherwise required by law. The forward-looking
statements contained in this release are expressly qualified by
this.
CONTACT: For further information, contact:
Bob Motz, Chief Financial Officer
(905) 361-3660
investors@hydrogenics.com
Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
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