|Hydrogenics to Supply Fuel Cell Power to Bus Projects Awarded by FTA|
|Two projects will demonstrate HyPM's versatility and ease-of-integration|
|MISSISSAUGA, ONTARIO, CANADA -- Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a leading designer and manufacturer of hydrogen and fuel cell systems, today announced it is designated as the fuel cell system supplier for two consortia-led projects selected to receive United States Federal Transit Administration (FTA) awards, as announced on October 12, 2006 (http://www.fta.dot.gov/news/news_events_5616.html). The prime objective of these FTA awards is to advance and commercialize hydrogen buses as clean, energy efficient alternatives to today's diesel buses. Total FTA funding for the two projects is approximately $11 million.
The first project, managed by the Center for Transportation and the Environment (CTE) of Atlanta, Georgia, will build, test and demonstrate an advanced battery-dominant hybrid-electric fuel cell bus. Hydrogenics' next generation HyPM fuel cell power modules will be integrated by Mobile Energy Systems of Golden, Colorado, into the propulsion system of two identical buses. These zero emission hybrid-electric buses are to be demonstrated in Alabama, Connecticut, and South Carolina, exposing them to a full range of operating conditions.
The second project, managed by Weststart CALSTART, will develop a bus in which Hydrogenics' fuel cell power module will be integrated by BAE Systems into an onboard auxiliary power system. The prime power of the bus is to be delivered by a diesel internal combustion engine optimized through additional hybrid-electric systems, including energy storage. Upon completion of fabrication and testing, this bus will be demonstrated in full revenue service in San Francisco.
"Our easy-to-integrate HyPM fuel cell power module product has proven itself many times over in a range of configurations, proving that this really is a superior technology - environmentally and operationally," comments Pierre Rivard, Hydrogenics President and CEO. "Through projects like this we continue to explore and expand pre-commercial opportunities for HyPM products in parallel to our focused market efforts in material handling and backup power markets."
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.
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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