Hydrogenics Corporation

Hydrogenics Corporation

March 21, 2006 07:30 ET

Hydrogenics Awarded Contract to Supply Hydrogen Generators to China's Largest Energy Companies

MISSISSAUGA, ONTARIO--(CCNMatthews - March 21, 2006) -

Power Plants Represent Growing Market for High Purity Hydrogen

Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a leading developer and manufacturer of hydrogen and fuel cell systems, today announced that it has received orders to supply electrolysis-based hydrogen generator plants to two of China's largest energy companies.

China Electric Power Energy Group and China National Power have each purchased a HySTAT-A Hydrogen Plant, capable of producing 10 Nm3/h of high purity hydrogen at a pressure of 25 bar. In both cases, the hydrogen produced will be used to cool the generators in a coal-fired power plant. Delivery of both orders is expected to take place in 2006.

"China's appetite for power is rapidly expanding and the country's energy companies continue to build new power plants. This is a growing market today for our world-leading onsite hydrogen products," said Pierre Rivard, Hydrogenics President and Chief Executive Officer. "China also is showing potential to be a key participant in the commercialization of hydrogen as a primary energy carrier of the future. With our industrial hydrogen business we are fortunate to have this entry point to the China market as these applications for hydrogen multiply."

Hydrogenics was awarded the contacts after a rigorous public bidding process that focused heavily on safety and reliability. China Electric Power Energy Group and China National Power have both purchased hydrogen generators from Hydrogenics in the past. Over the past four years, Hydrogenics has sold 12 hydrogen generators to Chinese energy companies.

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.


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.

Contact Information