Hydrogenics Acquires EnKAT GmbHApril 17, 2002 by Jeff Shepard
Hydrogenics Corp. (Toronto, Canada) announced the acquisition of EnKAT GmbH (Gelsenkirchen, Germany), which is a leading designer and manufacturer of test systems for fuel cells, reformers and electrochemical engines. The combination will expand Hydrogenics' existing product offerings and system-integration capabilities, also extending the geographical reach of the company in Europe. Terms of the transaction were not disclosed.
"Becoming part of a globally minded organization like Hydrogenics is a landmark event for EnKAT," said Bernd Pitschak, co-founder and managing director of EnKAT. "The fuel cell industry is evolving very quickly in Europe, in particular within the North Rhine-Westphalia region of Germany. This new relationship gives us the ability and resources to capitalize on this momentum by combining our technology strengths and market presence."
"We are very excited about our new relationship with EnKAT and the potential of our combined strengths," commented Pierre Rivard, Hydrogenics president and CEO. "EnKAT has impressed and retained marquee European clients in much the same way that Hydrogenics has grown with its clients in North America, the UK and Asia. As a result, we see considerable compatibility between the two groups and believe our collaboration will yield impressive results."