Hydrogenics Awarded $4.4 Million in Projects From the California Energy Commission
30 3월 2015 - 7:30PM
Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG) ("Hydrogenics" or
"the Company"), a leading developer and manufacturer of hydrogen
generation and hydrogen-based fuel cell power modules, today
announced that it has been awarded two projects valued, in
aggregate, at USD$4.4 million by the California Energy Commission
for its "Medium and Heavy-Duty Vehicle Technology Demonstration"
program.
The California Energy Commission's Alternative and Renewable
Fuel and Vehicle Technology Program is designed to develop and
deploy alternative and renewable fuels and advanced transportation
technologies to help meet the state's goals for reducing greenhouse
gas emissions and petroleum dependence in the transportation
sector.
For the first project, "Advanced Fuel Cell Vehicle Technology
Demonstration for Drayage Truck," Hydrogenics, with the technical
support of Siemens, will integrate its advanced CelerityPlusTM fuel
cell drive system into a Class 8 drayage truck. Total
Transportation Services, Inc. (TTSI) will demonstrate the Hydrogen
fuel cell-powered drayage trucks on the Alameda Corridor as well as
in the ports of Long Beach and Los Angeles.
For the second project, "New Flyer Advanced Fuel Cell Vehicle
Technology Demonstration for Bus," New Flyer, a leading
manufacturer of heavy-duty buses, will integrate Hydrogenics'
CelerityPlusTM fuel cell drive system into its 40-foot battery
transit bus platform, Xcelsior, for a 12 month demonstration.
Siemens will again provide technical support. SunLine Transit will
operate the bus over its regular route in Coachella Valley,
California to validate the viability and market acceptance of this
pre-commercial advanced fuel cell propulsion technology.
"Since we launched CelerityTM at the American Public
Transportation Association in October last year, it has generated a
great deal of interest from bus and truck manufacturers, OEMs and
integrators," said Daryl Wilson, CEO of Hydrogenics. "CelerityTM is
a fuel cell system purposely developed for medium and heavy duty
buses and trucks, providing a distinct solution which will help
accelerate the commercialization of zero emission vehicles. By
reducing the time and cost needed to integrate fuel cells into a
vehicle's drive train, we expect to see increasing demand in the
quarters to come."
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: Bob Motz, Chief Financial Officer
Hydrogenics Corporation
(905) 361-3660
investors@hydrogenics.com
Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
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