Hydrogenics Announces Board of Directors Appointment
January 19 2016 - 6:30AM
Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG), a
leading developer and manufacturer of hydrogen generation and
hydrogen-based power modules, announced that Sara Elford has been
appointed to the Hydrogenics Board of Directors, effective
immediately.
Ms. Elford has worked in the capital markets
industry for over twenty years. After a brief period in New York
City, she returned to Canada and became a sell-side equity research
analyst in 1995 and continued in such capacity – including 17 years
at Canaccord Genuity – until July 2015. Over the course of her
analyst career, Ms. Elford followed a broad range of industries and
business models, with a specific, but not exclusive, focus on
emerging companies, technologies and/or sectors. According to
Thomson Reuters Starmine, she was named in the top two for stock
picking in her sector six times since 2003, and in 2005 she was
named the top stock picker in Canada across all sectors and
analysts.
Ms. Elford has been a CFA Charterholder since
1997 and completed the academic requirements for the directors’
education program with the ICD in 2015. She is currently a member
of the FTSE Environmental Markets Committee and is also a member of
the Board of Directors of Carmanah Technologies and Pure
Technologies. She is a graduate of Bishop’s University in
Quebec.
"We are very pleased to welcome Sara to the
Board at Hydrogenics," said Doug Alexander, Chairman. "Sara’s
indepth knowledge of emerging and growth companies in the
technology sector will prove invaluable to Hydrogenics as we
execute on our growth strategy in 2016 and beyond.”
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 StatementsThis
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.
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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