Hydrogenics Announces New Facility in California on National Hydrogen & Fuel Cell Day
October 08 2018 - 8:00AM
Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG)
("Hydrogenics" or "the Company"), a leading developer and
manufacturer of hydrogen generation and fuel cell power modules,
today announced, in conjunction with the U.S. Department of
Energy’s fourth annual Hydrogen & Fuel Cell Day, that it has
opened its newest North American facility in Carlsbad, California.
Located near San Diego, the site will primarily focus on the
integration of hydrogen fuel cell systems into heavy-duty truck and
bus platforms for customers in California, while also serving as a
local support center for fueling, energy storage and power system
projects throughout the state.
Rob Del Core, Managing Director of Hydrogenics
USA, stated, “This marks an exciting moment in the business
evolution of Hydrogenics. While we’ve had sales and service staff
committed to California and the broader US markets for over a
decade, we’ve come to recognize – with the state ranked as the
world’s fifth largest economy – the importance of having a
dedicated presence to support the needs of our customers there and
strengthen our business development activities.”
“Hydrogenics has long been a proponent of
important California initiatives designed to reduce society’s
reliance on fossil fuels,” added Daryl Wilson, President and CEO of
Hydrogenics. “We supported the very early rollout of fueling
stations and various vehicle platforms that showcase the benefits
of hydrogen technology, and this new facility underscores our
commitment to the state and its customers. We envision a bright
future for Hydrogenics in California, where we see excellent market
potential for our advanced fuel cell power systems, energy storage
applications, and electrolysis-based hydrogen fueling
stations.”
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.
About National Hydrogen and Fuel Cell
DayNational Hydrogen and Fuel Cell Day was created to help
raise awareness of fuel cell and hydrogen technologies and to
celebrate the vast potential hydrogen technologies have today and
in future. October 8th (10.08) was chosen in reference to the
atomic weight of hydrogen (1.008).
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. 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:
Marc Beisheim, Chief Financial OfficerHydrogenics
Corporation(905) 361-3660investors@hydrogenics.com
Chris WittyHydrogenics Investor Relations(646)
438-9385cwitty@darrowir.com
Hydrogenics (NASDAQ:HYGS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Hydrogenics (NASDAQ:HYGS)
Historical Stock Chart
From Sep 2023 to Sep 2024