Hydrogenics Corporation

Hydrogenics Corporation

April 19, 2007 06:30 ET

Hydrogenics Signs Multiple Orders Toward Development of Pre-Commercial Fuel Cell Markets

Power module orders from nine customers include repeat order to The Toro Company for ongoing development of fuel cell utility vehicles

MISSISSAUGA, ONTARIO--(CCNMatthews - April 19, 2007) - Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a leading designer and manufacturer of hydrogen and fuel cell systems, announced today that it has received HyPM® Fuel Cell Power Module orders to date in 2007 from eight new customers and one repeat customer, for deployment in a range of pre-commercial markets. The total value of these orders is approximately $1.0 million and in some cases includes additional engineering and system integration.

Power module orders from three leading European OEMs and system integrators involved in renewable energy applications will be deployed in projects that are combining hydrogen and fuel cells with wind and/or solar energy sources to demonstrate the benefits of integrating hydrogen technologies to create fully renewable, continuous power systems.

Orders for light mobility applications include a repeat order for two HyPM HD modules to The Toro Company for an initiative partially funded by NYSERDA (New York State Energy Research and Development Authority) to deploy fuel cell powered Toro® Workman® turf utility vehicles in grounds operations in New York State parks. Additional light mobility orders include three modules to a system integrator customer advancing the use of fuel cells in off-road commercial utility vehicles, and one module to a European customer developing and demonstrating a small scale fuel cell powered marine transit bus in the canals of Venice as a potential solution to the current pollution issues in this UNESCO-designated area.

Orders for power modules have also been received from three Research & Development customers, based in Japan and the United States.

"We remain very focused on developing products for our target markets, specifically backup power and materials handling," commented Daryl Wilson, Hydrogenics President and Chief Executive Officer. "At the same time, we continue to ensure that later-to-emerge markets that show promise, such as the ones here, are seeded with Hydrogenics' technology and products. The beauty of our HyPM power module product is that it is universal in many aspects, and well-suited for pre-commercial customers that are exploring and advancing what fuel cell technology can do for their application. These are important customers for us to do business with, not only in terms of revenues but also in terms of continued market leadership."

About Hydrogenics

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.


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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