Hydrogenics Announces Additional Electrolyzer Orders In Russia And The Middle East
MISSISSAUGA, Ontario, July 15, 2010 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG) (" Hydrogenics"), a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced that it has secured orders for electrolyzers with customers in Russia and the Middle East. In Russia, Hydrogenics will supply a large industrial company in the city of Tomsk with a HySTAT unit for the production of light bulbs. The other order, with Siemens AG (NYSE:SI), is for an electrolyzer to be used at a seawater desalination and power plant being built in Saudi Arabia; this award, the first for Hydrogenics directly with Siemens, includes outdoor housing, a hydrogen purification device, and auxiliary systems. Both orders are expected to be shipped during the second half of 2010.
"These awards once again show the strength of our brand across markets and industries," said Daryl Wilson, Hydrogenics President and CEO. "We are pleased to be bringing additional electrolyzers to both Russia and Saudi Arabia – considered key markets for Hydrogenics – and proud to be working directly with Siemens for the very first time. In Saudi Arabia, our system will be used at a power plant that also desalinates seawater on a very large scale; the plant, known as Shuaibah-3, is the first independent water and power project (IWPP) in the country and will supply 194 million gallons of water daily as well as 900 megawatts of electricity when fully up and running. As usual, our hydrogen generation units were selected because of their high quality, ease of integration, and robustness – qualities that help maintain our leadership position worldwide."
ABOUT HYDROGENICSHydrogenics 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. This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Law 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 changes in the competitive environment adversely affecting the products, markets, revenues or margins of Hydrogenics' business. 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 United States 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, except as required by law. The forward-looking statements contained in this release are expressly qualified by this.
CONTACT: Hydrogenics Corporation Lawrence Davis, Chief Financial Officer (905) 361-3633 firstname.lastname@example.org Darrow Associates Investor Relations: Chris Witty (646) 438-9385 email@example.com
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