Hydrogenics Corporation

Hydrogenics Corporation

May 15, 2006 07:00 ET

Hydrogenics Signs Preferred Supply Agreement With Linde AG, Linde Gas Division

MISSISSAUGA, ONTARIO--(CCNMatthews - May 15, 2006) -

Five-year Global Agreement to Supply On-site Hydrogen Generation Plants

Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a leading developer and manufacturer of hydrogen and fuel cell products, today announced that it has signed a five-year preferred supplier agreement with Linde Gas Division, a division of Linde AG, one of the world's leading industrial gas supply companies. Through the agreement Hydrogenics will be a preferred supplier of onsite hydrogen generators to Linde Gas.

"Entering into this global preferred supply agreement for on-site hydrogen generation plants demonstrates the confidence Linde Gas has in our products, employees and customer service," said Pierre Rivard, President and Chief Executive Officer of Hydrogenics.

"We are very pleased to have finalized this preferred supply agreement with Hydrogenics," said Dr. Rainer Schlicher, Member of the Operational Board of Linde Gas. "Under this arrangement they will supply us with important hydrogen generation equipment that enables us to satisfy the needs of Linde customers for high purity hydrogen, in particular those in outlying areas."

Onsite hydrogen generators are used in a wide variety of industries, often at facilities that do not have access to reliable, truck-delivered hydrogen. Hydrogen from onsite generators is used for many industrial processes including industrial heat treating, power plant cooling, and chemical processing. As markets for hydrogen energy emerge, onsite hydrogen generators are expected to be increasingly used to refuel hydrogen fuel cell-powered vehicles and to store excess energy generated by wind or solar power installations, or other types of power plants.

About Hydrogenics

Hydrogenics Corporation (www.hydrogenics.com) is a leading global developer of clean energy solutions, advancing the Hydrogen Economy by commercializing hydrogen and fuel cell products. The company has a portfolio of products and capabilities serving the hydrogen and energy markets of today and tomorrow. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in North America, Europe and Asia.

About Linde Gas Division

The Linde Gas Division, located in Pullach, Germany, is one of the leading gas suppliers worldwide, and generated sales of EUR 4.438 billion in 2005. It is now the Linde Group's largest division, employing 17,800 people. Linde Gas supplies 1.5 million customers in more than 50 countries with very comprehensive know-how in various applications, extensive services and the surrounding hardware. For more information, please see Linde Gas online at http://www.linde-gas.com.


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.

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