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Hydrogenics Wins Contract to Provide Auxiliary Power System To Raytheon Defense Unit
Publication Date: 29-July-04
Source:Hydrogrnics
TORONTO-- Hydrogenics Corporation (Nasdaq: HYGS - News; TSX: HYG - News), a designer and manufacturer of hydrogen and fuel cell systems, reported today that it has won a contract to supply an integrated power system to Raytheon Integrated Defense Systems, a unit of Raytheon Company. Raytheon, one of the world's largest defense contractors, is involved in a wide range of product development initiatives for the U.S. military.

"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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