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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hydrogenics Awarded Energy Storage System For E.ON In Germany

MISSISSAUGA, Ontario, April 8, 2013 (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 has been awarded a 1 megawatt hydrogen energy storage system to be deployed in the City of Hamburg, Germany. Hydrogenics' energy storage application will employ advanced proton exchange membrane ("PEM") technology for production of the hydrogen, using excess power generated from renewable energy in the region, primarily wind. This "Power-to-Gas" facility will be run by E.ON, a global provider of innovative energy services and an existing customer of Hydrogenics. In the core of the system will be the world's largest single PEM electrolyzer stack, which will serve as the building block for future multi-megawatt applications. 

"This is another exciting milestone both for Hydrogenics and the energy storage industry in general," said Daryl Wilson, President and CEO of Hydrogenics. "Sites such as this E.ON facility will allow Germany to more efficiently use the large amount of renewable energy generated from wind and solar power, which can fluctuate dramatically due to environmental conditions. Hydrogen-based energy storage systems can absorb surplus energy as needed, return power when required, alleviate grid instability, and improve overall utility performance. In addition, the hydrogen produced can be stored in large quantities over long periods of time within the country's natural gas infrastructure. Using our technology, Hamburg will have the most advanced Power-to-Gas facility in the world and the largest PEM electrolysis installation producing hydrogen. We are pleased to be working once again with E.ON on this groundbreaking project, having just delivered our first energy storage equipment to them in December, 2012."

Construction of the plant, backed by a consortium of German companies and scientific organizations, is expected to begin during the second quarter of 2013. Funding has been provided by Germany's National Innovation Program (NIP) for hydrogen and fuel cell technology, under the auspices of the country's Federal Ministry of Transport, Buildings and Urban Affairs in coordination with the National Organization for Hydrogen and Fuel Cell Technology (NOW).

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs