Hydrogenics Announces $5 Million of Electrolyzer Orders in Saudi Arabia and Algeria
Hydrogenics Corporation (TSX: HYG)(NASDAQ: HYGS), a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced that it has received orders for electrolyzers worth, in aggregate, approximately $5 million from Groupe Cevital of Algeria and the Obeikan Investment Group of Saudi Arabia. These Hydrogenics HySTAT units, expected to be delivered in late 2009 and early 2010, will be used to produce high-quality hydrogen for vegetable oil processing and glass production.
“These awards, including a 2MW plant, once again demonstrate Hydrogenics’ global leadership position in electrolyzers and our growing presence across Africa and the Middle East,” said Daryl Wilson, President and CEO. “We are grateful to be providing this critical equipment to such well-known, respected organizations as Obeikan and Cevital. Our reliable, high quality electrolyzers have been chosen because of their reputation the world over, and, as the economy stabilizes, we expect to see additional orders in the months and quarters to come.”
About Hydrogenics
Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America and Europe.
