Hydrogenics Signs New Agreement with John Deere

July 28, 2004 by Jeff Shepard

Hydrogenics Corp. (Toronto, Canada), a designer and manufacturer of fuel cell technology, announced that it has entered into a five-year agreement with Deere and Company regarding continued research and development efforts concerning the use of hydrogen and fuel cells in commercial vehicles.

The five-year agreement incorporates both qualitative and quantitative commitments, and builds on the success of earlier joint projects involving the integration of Hydrogenics' HyPM™ fuel cell power module technology into Deere vehicles. Under the agreement, Deere and Hydrogenics will collaborate on both fuel cell developments and engineering to integrate them into vehicle systems.

"Deere has proven to be exceptional in this effort, largely due to the company's recognition of the potential for fuel cell technologies to enhance their current and future product platforms," commented Hydrogenics President and Chief Executive Officer Pierre Rivard. "Broadening our relationship with Deere is an important milestone towards achieving fuel cell commercialization. Through this agreement, we expect to transition our products from research and development prototypes, or demonstration units, to robust commercial products."