TORONTO, Sept. 27 /PRNewswire-FirstCall/ -- Hydrogenics Corporation
(Nasdaq: HYGS; TSX: HYG), a designer and manufacturer of hydrogen and fuel
cell systems, and the Toronto Waterfront Revitalization Corporation (TWRC) are
announcing the signing of a memorandum of understanding today at the Hydrogen
and Fuel Cells 2004 Conference in Toronto. Together the two organizations will
explore ways in which hydrogen fuel cell technologies and hydrogen production
can support and build on the sustainable development goals of the TWRC.
"Toronto is uniquely positioned to leverage Canada's strong leadership
position in fuel cell technology and commercialization," said Pierre Rivard,
President and CEO of Hydrogenics Corporation. "By engaging the local expertise
we can enhance and accelerate the development of a roadmap for sustainability
for this city. We are excited by the opportunities that working with the TWRC
might provide Hydrogenics and the entire Canadian hydrogen fuel cell
industry."
TWRC and Hydrogenics have agreed to explore potential opportunities
including specific demonstration projects, which showcase hydrogen and fuel
cell technology and its benefits for waterfront revitalization. Potential
projects could include: hydrogen-powered water shuttles; hydrogen-powered
police patrols; and hydrogen-powered fleet projects.
"TWRC is committed to making Toronto's waterfront an international model
for sustainable development. We want sustainability to define us and be the
standard against which we are judged," said John Campbell, TWRC's President &
CEO. "Hydrogenics has demonstrated the spirit of cooperation that will help to
further not only the industry but will help set the direction for a
sustainable city, starting with excellent opportunities on the waterfront."
In addition to investigating potential pilot projects, Hydrogenics and the
TWRC have also agreed to explore planning for a "Green Zone" within the
waterfront where clean energies could be promoted in daily operations within
that area. As well, it could attract future siting of companies and
organizations that would contribute to this future direction, for example
progressive sustainability-minded companies, environmental think-tanks,
academia, non-governmental organizations, and government partners.
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 Toronto Waterfront Revitalization Corporation
The Government of Canada, the Province of Ontario and the City of Toronto
established TWRC to lead the revitalization of Toronto's 2000-acre central
waterfront. The corporation believes that what is done on Toronto's waterfront
can and will set new standards for best practices in sustainability not only
in Canada but throughout the world. (http://www.towaterfront.ca)
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.
| |
SOURCE Hydrogenics Corporation
 back to top
Related links:
http://www.towaterfront.ca
http://www.hydrogenics.com
CONTACT:
Hydrogenics Investors - Gary Brandt, Chief
Financial Officer of Hydrogenics Corporation, +1-905-361-3633,
investors@hydrogenics.com; or Hydrogenics Media - Melody Gaukel
of Ketchum for Hydrogenics, +1-416-544-4906,
melody.gaukel@ketchum.com; Marisa Piattelli, Vice-President
Special Project Management of TWRC, +1-416-214-9319,
mpiattelli@towaterfront.ca; or TWRC Media - Kristin Jenkins, VP
Public Affairs of TWRC, +1-416-214-1479, kjenkins@towaterfront.ca
| |
|
