Hydrogenics Unveils 3 Megawatt PEM Electrolyzer Stack
April 25 2017 - 6:30AM
Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG)
(“Hydrogenics” or “the Company”), a leading developer and
manufacturer of hydrogen generation, fueling station equipment and
hydrogen-based power modules, today announced the market
introduction of its 3 megawatt PEM electrolyzer stack. Responding
to customer demand and interest, the 3 MW system is the newest
variant of Hydrogenics’ field-proven 1500E platform – which was
first introduced in 2015 as a 1.5 MW stack.
The new system has a production capability of
1,350 kilograms of hydrogen per day, making it capable of powering
280 fuel cell vehicles every 24 hours. Its compact size ensures the
smallest footprint with unparalleled efficiency in terms of
logistics, siting and installation.
“Our three megawatt stack platform is the new
industry benchmark for electrolytic hydrogen generation,” said
Joseph Cargnelli, Hydrogenics’ Chief Technology Officer. “In
developing this next-generation system, we continue our focus on
cost reduction through technology innovation and scale. The new
stack is able to deliver substantially reduced plant size and
expense while improving the customer’s overall deployment
flexibility. Whether end users are looking for hydrogen fueling to
advance zero-emission transport or for utility-scale renewable
hydrogen solutions, we are uniquely able to support their vision
and growth objectives.”
Hydrogenics will be profiling its new 3 MW stack
at the 2017 Hannover Messe in Germany, April 25 – 28. To learn
more, visit Hall 27, Booth #C65 and speak with a Company
representative.
About HydrogenicsHydrogenics
Corporation is a world leader in engineering and building the
technologies required to enable the acceleration of a global power
shift. Headquartered in Mississauga, Ontario, Hydrogenics provides
hydrogen generation, energy storage and hydrogen power modules to
its customers and partners around the world. Hydrogenics has
manufacturing sites in Germany, Belgium and Canada and service
centers in Russia, Europe, the US and Canada.
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
fueled 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.
Hydrogenics Contacts:
Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
Bob Motz, Chief Financial Officer
Hydrogenics Corporation
(905) 361-3660
investors@hydrogenics.com
Hydrogenics (NASDAQ:HYGS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hydrogenics (NASDAQ:HYGS)
Historical Stock Chart
From Apr 2023 to Apr 2024