Hydrogenics Awarded Contract For Fueling Station In Italy
MISSISSAUGA, Ontario, June 18, 2013 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG) ("Hydrogenics" or "the Company"), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that the Company has been awarded a contract for three HySTAT®-60 electrolyzers by The Linde Group (XETRA:LIN.DE) for installation as part of a fueling station in Bolzano, Italy. Terms of the award were not disclosed.
The station is currently under construction near a major motorway in Bolzano, thus well situated for large volumes of vehicular traffic; it is expected to supply hydrogen for both cars and buses. The project is part of the EU's Clean Hydrogen In European Cities ("CHIC") project, which is committed to making hydrogen-based public transport a commercial reality in Europe.
"Hydrogenics continues to play a major role in promoting hydrogen as a clean, viable fuel alternative worldwide," said Daryl Wilson, President and CEO of Hydrogenics. "Now with 45 facilities using our equipment across the globe, we are at the forefront of hydrogen-based solutions for energy management, storage, and transportation. This site in Italy is expected to be one of many in the future that will provide hydrogen for a growing number of buses and passenger cars equipped with fuel cells in the region. While some stations, like this one, will have electrolyzers on the premises, others across Europe will use hydrogen created through an expanding array of energy storage facilities – converting excess power that would have otherwise been wasted into usable hydrogen through one of our Power-to-Gas applications. We are excited by the increasing appreciation for what hydrogen can do and by our role in this rapidly-evolving industry."The rollout of the Bolzano installation will be managed by the Institute for Innovative Technologies (IIT) and operated by Alpengas. Hydrogenics' HySTAT®-60 units will, combined, initially produce approximately 400 kilograms of fuel daily and are expected to be delivered before the end of 2013, with startup in early 2014. Further hydrogen stations along the Bolzano-Modena motorway are planned for the future.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts