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Technology Stocks : Hydrogenics (HYGS): Fuel Cells
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To: cyrwoods who wrote (4)3/3/2001 8:39:59 PM
From: Richaaard  Read Replies (1) of 18
 
News:
Hydrogenics Expands Customer Base and Product Offerings
TORONTO, Feb. 27 /PRNewswire/ --

Hydrogenics Corporation (Nasdaq: HYGS - news; TSE: HYG - news), a designer and manufacturer of proton exchange membrane (PEM) fuel cell systems for testing and power markets, today announced first time sales of its FCATS(TM) control and test systems to an Asia-Pacific automotive manufacturer. Hydrogenics also announced two additional orders for FCATS(TM) systems, which were specifically designed to control and test a solid oxide fuel cell and a residential fuel cell system. FCATS(TM) is a proprietary product line of automated, industrial systems for operating and testing fuel cells and fuel cell stacks. These three orders total approximately $1.2 million CDN.

``These orders expand our customer base and illustrate our versatility in designing operating systems for a variety of fuel cell technologies and applications'', said Hydrogenics President and CEO, Pierre Rivard. ``The Asia-Pacific sale highlights our success in the region and confirms our decision to open our Tokyo sales office last year. The opportunity to work with a major automotive manufacturer and to establish our reputation in this region is a key element of our business strategy.

``We are also excited with the application of our FCATS(TM) product line to solid oxide fuel cell technology and residential systems'', stated Pierre Rivard. ``We will continue to seek new opportunities and markets to extend our technology platform and systems expertise. Our strength is knowing how to make fuel cells work in dynamic operating environments.''
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