Hydrogenics Starts Year with Milestone Orders
TORONTO, Feb. 1 /PRNewswire/ -- Hydrogenics Corporation (Nasdaq: HYGS; TSE: HYG), a designer and manufacturer of proton exchange membrane (PEM) fuel cell systems for testing and power markets, today announced first-time orders for its FCATS(TM) control and test systems from four new international customers, located in the United States, Japan, Germany and the United Kingdom. These orders total approximately $1 Million (Cdn.).
With these orders, Hydrogenics expands its premier customer base which includes such companies as General Motors Corporation, International Fuel Cells (IFC), 3M, Johnson Matthey PLC, and Delphi Automotive Systems. FCATS(TM) is a proprietary product line of integrated fuel cell operating systems designed for control and testing of fuel cells.
Hydrogenics' President and CEO, Pierre Rivard, is enthusiastic about the continued expansion of Hydrogenics' customer base and the penetration of its products into new markets. "Achieving first-time sales into Japan and Germany as well as additional sales into the United Kingdom and the United States, are truly milestones reflecting the unprecedented interest coming from new and diverse geographical markets," said Mr. Rivard. "These fuel cell operating systems are playing a critical role for an increasing number of global fuel cell technology developers."
Hydrogenics' new Asia-Pacific sales office in Tokyo, Japan was instrumental in landing the order form Japan. This regional sales office, which opened in October 2000, will also provide local service support for products delivered into this market. "The Asia-Pacific region is home to a number of the world's largest automotive producers and other global companies with active fuel cell programs," said Mr. Rivard. "We believe that Hydrogenics is now well-positioned to take advantage of numerous opportunities in this important market, and we are excited by the prospect of future revenue growth from this region."
Hydrogenics Corporation (http://www.hydrogenics.com) develops PEM fuel cell systems for commercialization, including related peripheral products and associated diagnostic and control equipment. Hydrogenics is recognized by key customers for its solid hands-on competency in fuel cell operating systems while establishing a sustainable commercial business as a leading provider of systems for control and testing of PEM fuel cells and stacks. The knowledge base that Hydrogenics has dedicated to these fully automated, state-of-the-art fuel cell systems is being applied to the development of fuel cell power generation with broad commercial applications. Hydrogenics' strategy is to exploit energy markets across the transportation, stationary and portable spectrum. Hydrogenics' head office is located in Mississauga, Ontario, Canada.
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