Hydrogenics Awarded Major Order for Hydrogen Backup Power Modules from CommScope
Mississauga, Ontario, Canada - December 5, 2012 - Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, announced that it received an order for the delivery of HyPM™ XR Series fuel cell power modules from its US-based partner, CommScope, Inc.
Hydrogenics power modules will be integrated into CommScope's fuel cell cabinets as the backup power solution for hundreds of wireless sites in North America, servicing a leading wireless operator. This is the largest single order from CommScope since the announcement of the strategic alliance between CommScope and Hydrogenics in 2010. This award is significant as it brings total orders in the Hydrogenics power systems business to over $100 million for 2012.
"We are very pleased with this order from CommScope for one of their key customers in North America," said Daryl Wilson, Hydrogenics' President and Chief Executive Officer. "CommScope is a leader in providing communications infrastructure solutions to world's largest telecom players, and hydrogen backup power cabinets provide a clean, reliable, long-term energy source to cell sites while avoiding the inherent issues and costs associated with batteries and diesel generators. We have worked closely with CommScope to develop and launch a best-in-class outdoor backup power solution for telecom customers. This year we have seen increased interest for the CommScope/Hydrogenics back-up power package from telecom players around the globe, and we anticipate similar interest in 2013."
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.
CommScope (www.commscope.com) has played a role in virtually all the world's best communication networks. We create the infrastructure that connects people and technologies through every evolution. Our portfolio of end-to-end solutions includes critical infrastructure our customers need to build high-performing wired and wireless networks. As much as technology changes, our goal remains the same: to help our customers create, innovate, design, and build faster and better. We'll never stop connecting and evolving networks for the business of life at home, at work, and on the go.
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.