News & Updates
Dec 21, 2012
Hydrogenics Delivers Energy Storage System to E.ON in Germany
Mississauga, Ontario, Canada – December 21, 2012 – Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that it has delivered, on time, a two megawatt “Power-to-Gas” energy storage system to E.ON, one of the world’s largest power and gas companies. Installed in Falkenhagen, Germany, the groundbreaking application will be fully commissioned early in 2013 and use surplus renewable energy to produce hydrogen for storage in the country’s existing natural gas pipeline network. Under this contract, first announced in June, 2012, Hydrogenics provided the entire hydrogen production facility and will service and maintain the site for a period of five years.
“We are very pleased to see this energy storage system delivered on time and ready for commissioning,” said Daryl Wilson, President and CEO of Hydrogenics. “The hydrogen produced by our E.ON equipment in Falkenhagen will be injected into the natural gas pipeline, making it an effective storage system for the surplus electrical power currently generated from renewable resources in the region. Over a 24 hour period the facility will be able to store over 30 MWh of energy, providing critical electrical grid support. With delivery taking place in under six months, we have demonstrated our ability to produce large-scale power-to-gas applications and are confident that we can continue scaling this business segment going forward. We expect to see many more such projects in the future that leverage our leading position in the design, manufacture and installation of large-scale electrolysis systems.”
Hydrogenics Corporation is a world leader in engineering and building the technologies required to enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation, energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in Germany, Belgium and Canada and service centers in Russia, China, India, Europe, the US and Canada.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and other statements concerning Hydrogenics objectives and strategies and managements beliefs, plans, estimates and intentions about its achievements, future results, goals, levels of activity, performance, and other future events. Hydrogenics believes the expectations reflected in its forward-looking statements are reasonable, although cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on the managements current expectations and actual results may differ from these forward-looking statements due to numerous factors. Readers should not place undue reliance on these forward-looking statements. Readers 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 the factors that could affect the foregoing forward-looking statements. 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, unless otherwise required by law. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.