Hydrogenics Receives Contribution from SDTC

April 04, 2004 by Jeff Shepard

Hydrogenics Corp. (Toronto, Canada), a designer and manufacturer of fuel cell technology, confirmed a $1.56 million contribution from Sustainable Development Technology Canada (SDTC) for a development and demonstration project of fuel-cell-powered forklifts. The project will include Class 1 sit-rider electric forklifts incorporating hydrogen storage, and a refueling station. The potential customer base for Class 1 forklifts are companies running multi-shift fleet operations, such as many in the automotive and transportation sectors.

The $1.56 million contribution has been leveraged by a $1.98 million funding commitment from a consortium that is led by Hydrogenics. The consortium members include Deere and Company, FedEx Canada, General Motors of Canada, NACCO Materials Handling Group, and the Canadian Transportation Fuel Cell Alliance. The total project is estimated to cost approximately $3.54 million.

"This announcement demonstrates Hydrogenics' commitment to developing hydrogen fuel cell products and refueling equipment, and providing turnkey solutions that bring this technology closer to our customers," said Pierre Rivard, president and CEO of Hydrogenics. "We are excited to be working with a number of distinguished public and private sector partners on this project as we aim to demonstrate a compelling value proposition for this potential early-adopting market for fuel cells."