|Hydrogenics Receives $3.3 Million Order for On-site Hydrogen Generation Plant from Major Energy Company|
|MISSISSAUGA, ONTARIO, CANADA -- May 5, 2006 -- Hydrogenics Corporation (TSX:HYG)(Nasdaq:HYGS), a leading developer and manufacturer of hydrogen and fuel cell products, today announced it was awarded a contract, valued at approximately $3.3 million, to supply a HySTAT-A Hydrogen Plant to a major North American oil and gas refinery for installation in 2007. The high purity hydrogen generated by the HySTAT-A Hydrogen Plant will be used by the refinery to reduce the sulfur content in diesel fuel in compliance with EPA regulations.
"We believe that our hydrogen generation products assist leading industrial operations to advance their business objectives with reliable cost effective solutions," said Pierre Rivard, Hydrogenics President and Chief Executive Officer. "Our HySTAT hydrogen generation plant meets intensive engineering requirements to generate high purity hydrogen at pressures over 350 psig without the use of a compressor."
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.
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.
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