HYG-t...in the news:
Hydrogenics FCATS system chosen by two institutions
Fri 13 Sept 2002
News Release
Mr. Gary Brandt reports
HYDROGENICS MAKES INITIAL INROADS INTO CHINA FUEL CELL MARKET
Two separate organizations in China have selected Hydrogenics' FCATS test
systems to support their progressive fuel cell programs. These orders
represent Hydrogenics' first business relationships in China. In addition,
Hydrogenics announced a repeat order from a major Japanese automotive
manufacturer. The total value of the three new Asia-Pacific orders totals
approximately $1-million (U.S.).
One of the new customers, the Dalian Institute of Chemical Physics (DICP),
has been at the forefront of fuel cell research in China for many years,
having many patents related to PEM (polymer-electrolyte membrane)
technology. DICP is a primary shareholder of Dalian Sunrise Power Co. Ltd.,
which was established in 2001 to commercialize the institute's advanced
fuel cell technologies.
The other new customer is the Shanghai Institute of Organic Chemistry
(SIOC, sioc.ac.cn, Chinese Academy of Sciences, a leading
research institution in organic chemistry in China with significant
contributions to the development of national science, economy and defence.
As a leader in PEM research, SIOC has made prominent advances in partial
fluorine PEM. SIOC is the primary shareholder of Shanghai TL Chemical Co.
Ltd. (http://www.tlchemical.com/), which was established in 2002 to develop
and commercialize PEM and MEA (membrane electrode assembly) technologies.
"Asia continues to offer growing opportunities for Hydrogenics," said
Pierre Rivard, president and chief executive officer. "In particular, we
are excited to have taken our first step in establishing key client
relationships in China. Research institutes in China are very closely
affiliated with industry, much more so than in North America. Typically
they provide the critical R&D and technological advancements for Chinese
industry to commercialize. As such, sales to these two new customers
represent an excellent opportunity for Hydrogenics to not only demonstrate
its core fuel cell system competency, but also to establish a strategic
presence in this promising region." |
