World’s First Megawatt PEM Electrolyzer for Power-to-Gas Facility
Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that it has been awarded a 1 megawatt hydrogen energy storage system to be deployed in the City of Hamburg, Germany. Hydrogenics’ energy storage application will employ advanced proton exchange membrane (“PEM”) technology for production of the hydrogen, using excess power generated from renewable energy in the region, primarily wind. This “Power-to-Gas” facility will be run by E.ON, a global provider of innovative energy services and an existing customer of Hydrogenics. In the core of the system will be the world’s largest single PEM electrolyzer stack, which will serve as the building block for future multi-megawatt applications.
“This is another exciting milestone both for Hydrogenics and the energy storage industry in general,” said Daryl Wilson, President and CEO of Hydrogenics. “Sites such as this E.ON facility will allow Germany to more efficiently use the large amount of renewable energy generated from wind and solar power, which can fluctuate dramatically due to environmental conditions. Hydrogen-based energy storage systems can absorb surplus energy as needed, return power when required, alleviate grid instability, and improve overall utility performance. In addition, the hydrogen produced can be stored in large quantities over long periods of time within the country’s natural gas infrastructure. Using our technology, Hamburg will have the most advanced Power-to-Gas facility in the world and the largest PEM electrolysis installation producing hydrogen. We are pleased to be working once again with E.ON on this groundbreaking project, having just delivered our first energy storage equipment to them in December, 2012.”
Construction of the plant, backed by a consortium of German companies and scientific organizations, is expected to begin during the second quarter of 2013. Funding has been provided by Germany’s National Innovation Program (NIP) for hydrogen and fuel cell technology, under the auspices of the country’s Federal Ministry of Transport, Buildings and Urban Affairs in coordination with the National Organization for Hydrogen and Fuel Cell Technology (NOW).
E.ON is the holding company of the world’s largest investor-owned electric utility service provider, based in Düsseldorf, North Rhine-Westphalia, Germany. It operates in over 30 countries and serves over 26 million customers.
Hydrogenics Corporation is a world leader in engineering and building the technologies required to enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation, energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in Germany, Belgium and Canada and service centers in Russia, China, India, Europe, the US and Canada.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and other statements concerning Hydrogenics objectives and strategies and managements beliefs, plans, estimates and intentions about its achievements, future results, goals, levels of activity, performance, and other future events. Hydrogenics believes the expectations reflected in its forward-looking statements are reasonable, although cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on the managements current expectations and actual results may differ from these forward-looking statements due to numerous factors. Readers should not place undue reliance on these forward-looking statements. Readers are encouraged to review the section captioned ‘Risk Factors’ in Hydrogenics regulatory filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission, for a more complete discussion of the factors that could affect the foregoing forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and 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, unless otherwise required by law. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
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