MISSISSAUGA, ONTARIO--(Marketwire - Dec. 18, 2008) - Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a leading designer and manufacturer of hydrogen electrolyzers and fuel cell systems, announced today the opening of a wind-hydrogen station utilizing HyStat-60 hydrogen generation systems operated by Hychico, an Argentinian Company. The Hydrogenics' electrolyzers will use local wind farm power to provide 120 Nm3/h of hydrogen for energy applications and 60 Nm3/h of oxygen for industrial applications in the area, which is an attractive alternative to long-distance trucked gases.
Harnessing the power of available renewable resources, such as wind energy, is an ideal alternative to remote fossil fuel power such as diesel gensets. However, the wind power output from the wind farm is intermittent in nature and hard to predict. The further addition of a hydrogen internal combustion engine genset to the system allows excess wind power to be produced and stored when the wind is blowing, then subsequently regenerated back into electricity when it is not. This results in the wind supplying a greater percentage of the power requirements and a decreased dependence on fossil fuels.
"Hydrogen provides an ideal energy storage solution," said Daryl Wilson, President and CEO of Hydrogenics. "We believe hydrogen will play a critical role in capturing the power of renewable resources and creating viable energy systems that are cost effective, sustainable and environmentally friendly. Stored hydrogen does not dissipate energy over time and the incremental cost of storage is relatively low. Hydrogen storage is highly scaleable and ideal for storing large amounts of energy for long periods of time," Wilson added.
Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America, Europe and Asia.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the US Private Securities Litigation Reform Law of 1995. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including changes in the competitive environment adversely affecting the products, markets, revenues or margins of Hydrogenics' business. Readers should not place undue reliance on Hydrogenics' forward-looking statements. Investors are encouraged to review the section captioned "Risk Factors" in Hydrogenics' regulatory filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission for a more complete discussion of factors that could affect Hydrogenics' future performance. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. The forward-looking statements contained in this release are expressly qualified by this.
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