MISSISSAUGA, ONTARIO--(CCNMatthews - June 6, 2007) - Hydrogenics Corporation; (TSX:HYG)(NASDAQ:HYGS), a leading designer and manufacturer of hydrogen and fuel cell systems, announced that its OnSite Generation group has been awarded orders for $3.0 million to date in the second quarter of 2007. These orders are for four HySTAT hydrogen generation systems to be delivered to industrial hydrogen customers worldwide for applications that Hydrogenics has successfully serviced in the past including metallurgy, glass manufacturing and power plant generator cooling.
"Electrolyzer sales to industrial hydrogen customers around the world are a very important part of Hydrogenics' growth model. The demand for hydrogen is growing in many processing and manufacturing applications where a reliable onsite hydrogen solution, such as the one we offer, has distinct sellable advantages," commented Daryl Wilson, Hydrogenics President and Chief Executive Officer. "Last year, we invested significantly in our Onsite Generation product manufacturing processes and quality system, giving customers the assurance that they are dealing with a supplier that puts their needs for quality and reliability first. Continuing sales to new and repeat industrial hydrogen customers are evidence that our client base recognizes this," added Wilson.
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 U.S. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lawrence Davis, Chief Financial Officer
Jane Dalziel, Director of Corporate Communications