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Enter Symbol
or Name
USA
CA



Hydrogenics Corp (2)
Symbol HYG
Shares Issued 9,011,357
Close 2014-01-15 C$ 22.60
Market Cap C$ 203,656,668
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Hydrogenics receives $3.8-million storage contract

2014-01-16 07:35 ET - News Release

Mr. Chris Witty reports

HYDROGENICS AWARDED CAD$3.8 MILLION ENERGY STORAGE CONTRACT

Hydrogenics Corp. has been awarded a $3.8-million contract to supply a microgrid energy storage application in Canada.

This energy storage project will store surplus wind energy as hydrogen using a Hydrogenics HySTAT60 electrolyzer operating at 320 kilowatts of energy absorption. The hydrogen will be stored on-site and then converted back to energy when needed using a Hydrogenics HyPM-R200TM fuel cell system generating 200 kilowatts of energy. This project, when complete, will replace a current system that uses diesel generation thus resulting in a much lower carbon footprint.

"We are pleased that Hydrogenics's electrolyzer and fuel cell technology is being used for microgrid energy storage in Canada," said Daryl Wilson, Hydrogenics's chief executive officer. "We believe that this project paves the way for larger clean energy generation and storage opportunities in remote communities such as those in the Canadian North and elsewhere that are not connected to a broader power grid."

Hydrogenics expects to deliver this project in late 2014.

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