Hydrogenics Supplies Quantum With Fuel Cell Power Module for U.S. Army Concept Vehicle
TORONTO, May 25 /PRNewswire-FirstCall/ -- HYDROGENICS CORPORATION , a designer
and manufacturer of hydrogen and fuel cell systems, announced today that it has
sold and delivered a HyPM 10 power module to Quantum Fuel System Technologies
Worldwide, Inc., in support of Quantum's contract with the U.S. Army
TARDEC-NAC (National Automotive Center) to develop and demonstrate a high
performance, hydrogen fuel cell powered light-duty, alternative mobility
vehicle for military applications. The vehicle is being designed by Quantum's
Advanced Vehicle Concept Center in Lake Forest, California.
"We have always viewed the military as an important early-adopting market for
fuel cell technology," said Pierre Rivard, Hydrogenics President and CEO. "Hydrogen and fuel cells offer compelling advantages over incumbent power
technologies for military applications. Opportunities such as this that 'put
theory into practice' are very valuable in exploring and advancing the full
potential of hydrogen and fuel cell technology. We are confident that our HyPM
power module's proven durability and reliability will meet Quantum's
expectations for this important military initiative." Expected benefits of this fuel cell powered vehicle include a reduced thermal
signature and near-silent operation, each of which offers compelling advantages
in silent watch applications compared to a conventional military vehicle. In
addition, the capability of fuel cell vehicles to generate off- board power
supports the increasing use of tactical and communication equipment on the
battlefield and in reconnaissance applications. Fuel currently comprises 70
percent of the supplies transported by the Armed Services to support
battlefield operations. This project has the potential to demonstrate a pathway
to address related logistic issues by using a fuel that can be synthesized
locally from a variety of feedstocks, including water.
"We are pleased to be working closely with Hydrogenics on this important
project. Hydrogenics had the ideal fuel cell power module for this application
and allows Quantum to provide a well-packaged vehicle to the U.S. Army," said
Alan P. Niedzwiecki, Quantum's President and CEO. "As a member of the GM
alliance of fuel cell companies, we have previously worked with Hydrogenics on
a number of integration programs, including a back-up power demonstration for
Nextel Communications. We look forward to working on future programs with
Hydrogenics as fuel cell system technologies move into commercialization." Hydrogenics' HyPM power modules are scalable integration-ready power generators
that require only hydrogen fuel to produce DC electrical power. In addition to
a fuel cell stack, the power module includes the associated components,
subsystems and control software required to produce clean electricity for a
wide range of mobile and stationary applications.
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.
About Quantum Technologies Quantum is a Tier 1 automotive OEM supplier. Quantum's ultra-light weight
composite hydrogen fuel storage, fuel injection technologies, electronic
control products and OEM level systems integration capabilities have enabled
the company to develop a product portfolio with state-of-the-art technologies
and products, a diverse customer base, and strong alliances with partners such
as General Motors, Sumitomo Corporation and former parent IMPCO Technologies.
Quantum and Hydrogenics are members of the GM Global Fuel Cell Alliance of fuel
cell commercialization companies.
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. DATASOURCE: Hydrogenics Corporation CONTACT: Investor Contact - Gary Brandt, Chief Financial Officer of Hydrogenics Corporation, +1-905-361-3633, , or Media Contact - Melody Gaukel of Ketchum, +1-416-544-4906, , or Quantum Contact - Cathy Johnston, Director of Communications and Corporate Support of Quantum, +1-949-399-4548, Web site: http://www.hydrogenics.com/
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