HYDROGENICS CORPORATION (Nasdaq: HYGS, TSX: HYG), a designer and manufacturer
of hydrogen and fuel cell systems, announced today that it has sold and
delivered a HyPM 10 power module to Quantum Fuel System Technologies Worldwide,
Inc. , (Nasdaq: QTWW) in support of Quantum's contract with the U.S. Army
TARDEC-NAC (National Automotive Center) to develop and demonstrate a high
performance, hydrogen fuel cell powered light-duty, alternative mobility vehicle
for military applications. The vehicle is being designed by Quantum's
Advanced Vehicle Concept Center in Lake Forest, California. "We have always
viewed the military as an important early-adopting market for fuel cell
technology," said Pierre Rivard, Hydrogenics President and CEO.
"Hydrogen and fuel cells offer compelling advantages over incumbent power
technologies for military applications. Opportunities such as this that 'put
theory into practice' are very valuable in exploring and advancing the full
potential of hydrogen and fuel cell technology. We are confident that our HyPM
power module's proven durability and reliability will meet Quantum's
expectations for this important military initiative."
Expected benefits of this fuel cell powered vehicle include a reduced thermal
signature and near-silent operation, each of which offers compelling advantages
in silent watch applications compared to a conventional military vehicle. In
addition, the capability of fuel cell vehicles to generate off- board power
supports the increasing use of tactical and communication equipment on the
battlefield and in reconnaissance applications. Fuel currently comprises 70
percent of the supplies transported by the Armed Services to support battlefield
operations. This project has the potential to demonstrate a pathway to address
related logistic issues by using a fuel that can be synthesized locally from a
variety of feedstocks, including water.
"We are pleased to be working closely with Hydrogenics on this important
project. Hydrogenics had the ideal fuel cell power module for this application
and allows Quantum to provide a well-packaged vehicle to the U.S. Army,"
said Alan P. Niedzwiecki, Quantum's President and CEO. "As a member of the
GM alliance of fuel cell companies, we have previously worked with Hydrogenics
on a number of integration programs, including a back-up power demonstration for
Nextel Communications. We look forward to working on future programs with
Hydrogenics as fuel cell system technologies move into commercialization."
Hydrogenics' HyPM power modules are scalable integration-ready power generators
that require only hydrogen fuel to produce DC electrical power. In addition to a
fuel cell stack, the power module includes the associated components, subsystems
and control software required to produce clean electricity for a wide range of
mobile and stationary applications.
About Hydrogenics
Hydrogenics Corporation (http://www.hydrogenics.com) is a leading clean power
generation company, engaged in the commercialization of hydrogen and fuel cell
technology and test stations for fuel cells. The company is building a
sustainable business, in a potentially "game changing technology" for
transportation, stationary and portable power. Hydrogenics, based in
Mississauga, Ontario, Canada, has operations in British Columbia, Canada, Japan,
the United States and Germany.
About Quantum Technologies
Quantum is a Tier 1 automotive OEM supplier. Quantum's ultra-light weight
composite hydrogen fuel storage, fuel injection technologies, electronic control
products and OEM level systems integration capabilities have enabled the company
to develop a product portfolio with state-of-the-art technologies and products,
a diverse customer base, and strong alliances with partners such as General
Motors, Sumitomo Corporation and former parent IMPCO Technologies.
Quantum and Hydrogenics are members of the GM Global Fuel Cell Alliance of fuel
cell commercialization companies.
This release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Law of 1995. These statements are based on management's
current expectations and are subject to changes in the competitive environment
adversely affecting the products, markets, revenues or margins of Hydrogenics'
business. Readers should not place undue reliance on Hydrogenics'
forward-looking statements. Investors are encouraged to review the section
captioned "Risk Factors" in Hydrogenics' registration statement on
form F-10 filed with the Securities and Exchange Commission on February 3, 2004
for a more complete discussion of factors that could affect Hydrogenics' future
performance. 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.