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Hydrogenics Corp (2)
Symbol HYG
Shares Issued 9,011,357
Close 2014-01-28 C$ 23.90
Market Cap C$ 215,371,432
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Hydrogenics wins two fuelling station contracts in U.K.

2014-01-29 06:58 ET - News Release

Mr. Chris Witty reports

HYDROGENICS AWARDED CONTRACTS FOR FUELING STATIONS IN THE UK

Hydrogenics Corp. has been awarded two contracts for fuelling stations in the United Kingdom. The first contract includes three HySTAT 60 electrolyzers for BOC, a member of the Linde Group, for installation as part of a large fuelling station due to be constructed in 2014 for Aberdeen City Council's Kittybrewster depot in Scotland. The three electrolyzers will provide up to 400 kilograms per day of hydrogen, and the station, part of the Aberdeen hydrogen bus project, will be used for 10 fuel cell buses -- which will be the largest such fleet in Europe.

The second contract, also with BOC, calls for a HySTAT 30 electrolyzer to be installed as part of a fuelling station in Swindon, England, for Honda Motor Company. The electrolyzer will provide 65 kilograms of hydrogen per day and is expected to be operational during the second half of 2014, as is the Kittybrewster installation.

Daryl Wilson, Hydrogenics' president and chief executive officer, said: "These most recent fuelling station awards confirm that Hydrogen infrastructure spending is indeed increasing across the globe -- particularly in Europe, Japan, Korea and California. This should come as no surprise given the plans outlined by a number of leading automotive OEMs to begin selling high-volume fuel cell vehicles between 2015 and 2017, with some models expected out later this calendar year. We see a great deal of growth potential in fuelling stations and are uniquely qualified to provide the most reliable and efficient electrolyzers in the industry."

Aberdeen City Council is taking a strategic lead in facilitating the arrival of a hydrogen economy through: (a) leading the North Sea region hytrec (hydrogen transport economic) project; (2) co-ordinating the development of a strategy, on behalf of the Scottish Cities Alliance, to enable Scotland to build new infrastructure and support hydrogen technologies; and (3) leading initiatives for growing Aberdeen's hydrogen economy.

The Swindon fuelling station is the result of a joint public-private partnership between Honda, BOC and the economic development organization Forward Swindon. The fuelling station will utilize solar energy to generate hydrogen and be used for material handling vehicles and light vans at Honda's manufacturing plant.

The Aberdeen hydrogen bus project is being multifunded through the Scottish government and Scottish Enterprise along with the European Commission and the U.K. Technology Strategy Board. Both the Aberdeen and Swindon projects are tied to a January, 2012, initiative of the TSB, co-funded by the Department of Energy and Climate Change, aimed to encourage U.K. businesses to develop fuel cells and hydrogen systems to make the case for further investment. Fuelling infrastructure is a key requirement to "complete the circle" for hydrogen-based transportation. These state-of-the-art facilities will create awareness for the need to develop fuelling stations throughout the U.K. and illustrate Hydrogenics' leadership position in this expanding field.

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