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

Hydrogenics Awarded Contract To Deliver Hydrogen Powered Fuel Cell Power Modules For Hybrid Ferry

MISSISSAUGA, Ontario, March 25, 2011 (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 has received a contract from Statue Cruises, LLC, a subsidiary of Hornblower Cruises & Events for the delivery of two HyPM HD 16 fuel cell power modules delivering up to 33 kilowatts of continuous power. The 600 passenger Hornblower Hybrid will be propelled by hydrogen fuel cells in a compound hybrid arrangement along with wind turbines, solar panels and a tier 2 diesel engine for additional energy needs.

The marine market is well-poised to benefit from fuel cells from both an environmental and efficiency viewpoint. When in harbour, vessels typically utilize diesel powered main engines or auxiliary power units emitting large amounts of emissions and noise into the environment. Fuel cells emit no emissions and comparatively little noise making them an ideal solution for high profile marine applications. In the case of fleets which return to a common port or base, the economic justification for hydrogen fueling stations can be compelling.

"We are proud to be providing our fuel cell products for this high profile application. Delivering our standard fuel cell power modules allows customers to rapidly deploy fuel cells in a wide variety of challenging environments," said Daryl Wilson, President and Chief Executive Officer of Hydrogenics Corporation. In addition to providing fuel cell power modules, we will support Hornblower's US Coast Guard certification process by utilizing our vast experience working with many of the leading certification bodies throughout the world," added Wilson.

"By combining hydrogen, solar and wind power, Hornblower will minimize its environmental impact as we transport guests to popular national landmarks like the Statue of Liberty and Ellis Island. Our goal is to reduce emissions to the greatest extent possible, with a goal in the future to eliminate them entirely during a cruising day," says Terry MacRae, CEO of Statue Cruises and Hornblower Cruises & Events. "We expect this pioneering project to inspire continued industry innovations. The technology on the Hornblower Hybrid is now scalable for other hybrid ferries, hybrid yachts and even hybrid tugs," added MacRae.

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 16,820.09 +29.90 0.18%
S&P 500 1,980.80 +0.88 0.04%
NASDAQ 4,744.9490 -3.4120 -0.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs