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| Publication
date: 26-May-2004
Source:Hydrogenics |
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Hydrogenics Corporation (TSX: HYG and Nasdaq: HYGS), a developer
and manufacturer of hydrogen and fuel cell products, today announced that
the Company is working with ChevronTexaco Technology Ventures LLC in the
execution of a hydrogen energy station for stationary power generation
and transportation fuel applications.
Hydrogenics' contract is for the provision of engineering and product-related services to integrate a fully packaged hydrogen generator based on ChevronTexaco Technology Ventures' proprietary reformer technology. The contract is the first work order to a recently signed master services agreement between the two companies. "We are very excited to be working on this project with ChevronTexaco Technology Ventures," said Pierre Rivard, President and CEO of Hydrogenics. "We are particularly gratified that a company of ChevronTexaco's industry stature has contracted with Hydrogenics' to provide these services. Through our successful fuel cell test business, we have 'learned by doing' in all these areas, and we bring that experience in full measure to this project. This project is an important component of our emerging portfolio of hydrogen generation and refueling technologies." About Hydrogenics Hydrogenics Corporation (www.hydrogenics.com) is a 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 with this potentially "game changing technology." With an unrivalled experience in fuel cell test systems and relationships with key industry partners, the Company is creating innovative, clean energy solutions for transportation, stationary and portable power applications. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in British Columbia, Canada, Japan, the United States, and Germany. 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. |
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