Canadian hydrogen power systems manufacturer Hydrogenics Corporation (TSX: HYG)(NASDAQ: HYGS) announced it has secured two delivery contracts for two fuel cell power module solutions.
The HyPM Rack systems will be delivered to customers in France and Greenland.
One HyPM Rack system will be installed at the headquarters of French human resources consulting firm Abalone Group to generate energy and supplement photovoltaic and wind power. The other system will go to Nukissiofiit, Greenland’s national energy company. This is part of the H2KT project, aimed at analyzing the potential of utilizing hydrogen for energy storage and management in Greenland.
Hydrogenics is trying to take full advantage of the opportunity to highlight the importance of hydrogen in energy storage and management.
"These are exciting developments that demonstrate the growing importance of hydrogen for energy storage and management. We continue to believe that renewable energy solutions offer a large opportunity for Hydrogenics and are pursuing this market aggressively," said CEO and President Daryl Wilson.
Hydrogenics did not specify the financial details of the placed orders.
The company closed with a 7.7% gain yesterday.
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