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"The military continues to embrace alternative energy technologies ahead of wide-spread commercial use, seeking performance beyond that available from conventional diesel and battery technology," said Hydrogenics President and CEO Pierre Rivard. "Fuel cells can solve or mitigate several problems that the Army faces in the field, ranging from reduced reliance on costly and vulnerable fuel supply lines, to reducing the chance of enemy detection by operating cooler, quieter and cleaner power generators. We see Raytheon as a key OEM relationship that could help us gain access to the substantial potential of the U.S. military market. Raytheon is well-positioned to sell products to the U.S. military market, and we look forward to working with them on this project."
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.
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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