This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hydrogen Shown To Play A Key Role In The Decarbonization Of Personal Mobility

MISSISSAUGA, Ontario, Nov. 15, 2010 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG), a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced that the company is a contributor and supporter of a new study on transportation in Europe.

As part of a consortium of thirty organizations, Hydrogenics, along with other global companies across the passenger car value chain, major oil and gas, an NGO and two Government Organizations released a study in Brussels on November 8 th which concludes that a combination of engines - battery, fuel cell and plug-in hybrid electric vehicles - is needed with hydrogen fuel as a critical contributor.

The study, "A portfolio of power-trains for Europe: a fact-based analysis" compares the economics, sustainability and performance of four different types of vehicles in helping achieve the overall 80% decarbonization goal by 2050 set by the European Union and the G8 leaders in September 2009.

"If there has ever been any doubt about the future role of hydrogen in our energy systems this report makes it clear that across any planning scenario for decarbonization, hydrogen technology is an essential part of the mix," said Daryl Wilson, President and CEO. "Hydrogenics is one of the largest suppliers of hydrogen fueling stations, with over 35 installations across the globe. The report supports electrolysis as a clean, practical and cost effective pathway for hydrogen refueling."

Highlights of the report which are of particular interest to Hydrogenics include:
  • Identification of electrolysis as a key technology in the two production mixes deemed most relevant for the study with at least 30% of the supply mix for hydrogen as well as a consideration for 100% noting the sustainability advantage of linking electrolysis with renewable power generation ( see report pg. 37).
  • The cost trajectory of power train technologies over the next 10 years will see convergence in cost for fuel cell, battery and fossil fuel approaches. Fuel cell and hydrogen technology will offer greater driving autonomy and environmental benefit for larger passenger cars (see report pg. 39).
  • Recommendation for a comprehensive and co-ordinated EU market launch study for the development of fuel cell electric vehicles (FCEV's) and hydrogen infrastructure in Europe starting with the creation of an indepth business case and implementation plan for a member state.
  • A member state (likely Germany) should lead with the necessary policy and government support for new directions in transportation. Hydrogenics has a well established presence and visibility in this market with numerous customer relationships, installations and a facility (see report pg. 52).

"We're Ready", once again, to contribute to this vital new direction for transportation:
  • In the last twelve months, Hydrogenics has provided quotations for more than 25 hydrogen fueling stations. This is a dramatic increase in market interest when one considers that there are only 200 stations globally today which have been installed in the last ten years.
  • We are selling hydrogen fueling stations now throughout the world in conjunction with major gas companies and local system integrators. Our equipment is preferred, as evidenced by recent wins including, Belgium, Germany and in the USA.
  • The link between renewable energy and electrolysis, as a means to generate hydrogen for transportation has caught the interest of major electric utilities in Europe. Electrolysis enables smart grid stabilization and offers energy storage capacity well beyond alternative solutions. 
  • Growth in automotive fuel cell applications will drive further cost reduction and lift the supply chain for non-automotive applications of interest to Hydrogenics.

In the emerging world of our energy future this report clearly points to a critical role for hydrogen.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs