|Hydrogenics Unveils Regenerative Back-up Power Generator at Las Vegas Telecom Show|
|First Product Initiated Under New GM/Hydrogenics Alliance|
|TORONTO, Oct. 30 -- HYDROGENICS CORPORATION (Nasdaq: HYGS - news; TSE: HYG - news), a designer and manufacturer of proton exchange membrane (PEM) fuel cell systems, today unveiled their HyUPS(TM) backup power product at the Tower Summit 2001 telecommunications show and conference taking place in Las Vegas on October 29-30, 2001.
Hydrogenics HyUPS(TM) fuel cell power generator is a stationary power product co-developed by Hydrogenics and General Motors to meet critical backup power needs across multiple markets. The initial target market for this product is the demanding telecommunications industry. By delivering clean and efficient backup power, HyUPS(TM) provides a solution to many problems associated with the diesel gensets and battery banks that are currently providing backup for telecom towers. The prototype unit is capable of delivering 25 kW power output and has regenerative capabilities. An integrated electrolyzer recharges the hydrogen supply after grid power has been re-established, essentially providing a low maintenance self-fueling system.
Pierre Rivard, President and CEO of Hydrogenics is very pleased to have this opportunity to demonstrate the potential of the company's new alliance with General Motors. "The unveiling of our HyUPS(TM) backup power generator is the first public manifestation of the meaning behind the alliance between Hydrogenics and General Motors. It very clearly demonstrates the strength of our jointly applied expertise involving GM's superior stack technology and Hydrogenics' system integration capabilities. We are very excited to offer a product to a market for which fuel cell technology provides a viable solution today. "
"This is the first commercial product to emerge from our fuel cell research and development efforts with our partners," said Larry Burns, GM vice president of research, development and planning. "It's consistent with our strategy to accelerate fuel cell technology commercialization, and highlights how our fuel cell alliances allow us to move faster and smarter with wins for all companies involved and for cellular phone customers.
Hydrogenics Corporation (http://www.hydrogenics.com) is a fuel cell technology company focused on the commercialization of proton exchange membrane ("PEM") fuel cells for clean power generation. Hydrogenics develops and manufactures fully integrated PEM fuel cell test systems, including related peripheral products and associated diagnostic and control equipment. The knowledge and expertise that Hydrogenics has acquired from the development and manufacture of its fully automated test and control systems is being actively applied to the development of fuel cell power generation products with broad commercial applications. Hydrogenics' strategy is to penetrate energy markets across the transportation, stationary and portable spectrum. Hydrogenics' head office is located in Mississauga, Ontario, 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.
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