|Hydrogenics to Supply Electrolyzer for Remote Community Wind-Hydrogen Energy System|
|Hydrogen used as energy storage for renewable resources|
|MISSISSAUGA, ONTARIO, CANADA - May 27, 2008 -- Hydrogenics Corporation (TSX: HYG)(NASDAQ: HYGS), a leading designer and manufacturer of hydrogen electrolyzers and fuel cell systems, announced today that it has been selected to provide the hydrogen electrolyzer for a community wind-hydrogen-diesel system in the community of Ramea, Newfoundland and Labrador, Canada. By adding zero-emission hydrogen generation and storage, Newfoundland and Labrador Hydro (Hydro), is anticipating an increase in the amount of electricity derived from wind which will lead to a decreased dependence on diesel fuel. Hydrogenics anticipates it will deliver its commercially proven HySTAT onsite generation electrolyzer to Hydro within one year.
Ramea, like many communities around the globe, is isolated from the main electrical grid and dependent on diesel generation to meet its electricity needs. Harnessing the power of available renewable resources, such as wind energy, is an ideal approach for communities like Ramea to offset the power needed from the diesel gensets, but is limited by wind's inherent intermittency. Introducing hydrogen technologies to the community allows excess wind power to be stored and redeployed when the wind is not blowing enabling wind to supply a greater percentage of the community's power requirements. This project is a five year research and development pilot with potential for expansion to other remote communities.
"Hydrogen provides an ideal energy storage solution," said Daryl Wilson, President and CEO of Hydrogenics. "We believe that hydrogen will play a critical role in capturing the power of renewable resources and creating viable energy systems that are cost effective, sustainable and environmentally friendly," says Wilson. Batteries are often used to store excess energy; however, batteries incur significant loss over periods of time and are relatively expensive options for energy storage. By comparison, stored hydrogen does not dissipate energy over time and the cost of storage is relatively low. "Hydrogen storage is highly scaleable and ideal for storing large amounts of energy for long periods of time," Wilson added. In addition, hydrogen is multi-use and can be used to fuel vehicles, devices or other industrial equipment.
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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