Hydrogenics Selected for 2 Megawatt Energy Storage Facility in Ontario
2014年7月26日 - 12:41AM
Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG)
("Hydrogenics" or "the Company"), a leading developer and
manufacturer of hydrogen generation and hydrogen-based power
modules, today announced that it has been selected as a Preferred
Respondent by the Independent Electricity System Operator (IESO)
for Ontario in its procurement for Grid Energy Storage. This
Power-to-Gas project will deliver 2MW of storage capacity and be
located in the Greater Toronto Area. Hydrogenics will supply the
facility's next-generation PEM electrolyzers and is partnering with
Enbridge Inc. to develop, build and operate the energy storage
facility to provide regulation services to the IESO under contract.
"Storage facilities on the grid are a real game changer," said
Bruce Campbell, President and CEO of the IESO in a press release.
"Our electricity system was built on the concept that you can't
store large amounts of electricity – we produce electricity at the
same time that we consume it. Energy storage projects will provide
more flexibility and offer more options to manage the system
efficiently."
Daryl Wilson, CEO of Hydrogenics, added, "We are very excited to
have been awarded this Power-to-Gas project, the first of its kind
in North America. We have already experienced the positive impact
of having a highly visible reference site with E.ON in Germany, and
our partnership with Enbridge will make this application an
excellent reference site closer to home. We appreciate the
leadership of the Ontario Ministry of Energy to invest in clean
energy storage technologies and the IESO for providing this
platform for energy innovation."
Today, we continue to prove that our hydrogen-based energy
storage technology will transform the energy sector by providing
services to grid operators to convert renewable generation when it
is not needed into renewable power, fuel or heat when and where it
is needed.
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
(905) 361-3660
investors@hydrogenics.com
Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
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