This Day On The Street
Continue to site
ADVERTISEMENT
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 Wins Hydrogen Storage System Award For Renewable Electricity Linked To Refueling Facility In Europe

MISSISSAUGA, Ontario, Dec. 10, 2012 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that it, together with eight other partners, has won a major energy storage R&D and demonstration project in Europe. Called "Don Quichote," the project includes a financial contribution of 2.86 million Euros by the European Commission, under the auspices of the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), and will take five years to complete.

The core innovation of the Don Quichote project will consist of combining a 350 bar electrochemical compressor, a 30Nm3 PEM electrolyzer system, and a 90 kW fuel cell system to demonstrate the technical and economical viability of an integrated hydrogen storage system for renewable electricity linked to a hydrogen refueling facility. The consortium will design, build, deploy and operate the system at the Colruyt site near Brussels to double the capacity of the existing 350 bar fueling station to 130 kilograms per day and install a fuel cell system for electricity demand leveling.

This project seeks to increase renewable-based electricity, grid balancing, sustainable mobility and the use of clean hydrogen. It aims to demonstrate and validate system-level technology readiness while maintaining a high safety level and generate further data for the expansion of renewable electricity and hydrogen-fueled, sustainable mobility.

"All consortium partners are delighted to be a part of this important energy storage and fueling project, which further substantiates the enabling position of hydrogen for renewable energy integration," said Daryl Wilson, Hydrogenics' President and Chief Executive Officer. "The importance that the EU places on hydrogen technology – which holds the key to solving utility-scale energy storage and transport issues of today and tomorrow – is very gratifying. The innovative technologies at the core of the Don Quichote project are well placed to enable greater renewable power generation around the globe."

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs