Hydrogenics signs distributor for forklift market

Hydrogenics Corporation (NASDAQ: HYGS), a Canadian-based designer and manufacturer of hydrogen and fuel cell systems, today announced it has entered into a distribution agreement with LiftOne, a dealer and service company for forklift equipment.

LiftOne is Hydrogenics' first distributor for the company's HyPX™ Fuel Cell Power Pack product for lift trucks. Under the agreement, LiftOne will market, sell, and service the HyPX fuel cell solution to potential end-users in Virginia, North Carolina and South Carolina.

"We believe that an important way to penetrate the lift truck market is by working with dealer-distributors in the local market areas," commented Daryl Wilson, Hydrogenics President and Chief Executive Officer. "Through its direct sales force, LiftOne has built strong relationships with the major material handling customers in the Greater Carolina region, and has a full-service organization to provide immediate local support."

Hydrogenics' HyPX Power Pack incorporates a hybrid fuel cell power solution, fueled by hydrogen, to deliver a zero emission 'plug and play' lead acid battery replacement for forklift trucks. Hydrogenics' first generation product completed successful pilot deployments that demonstrated significant productivity and operational improvements and savings when compared to lead acid battery vehicles and infrastructure.

The timing of this first distributorship agreement coincides with the introduction of Hydrogenics' next generation HyPX Fuel Cell Power Pack at the ProMat 2007 materials handling tradeshow in Chicago this week.

Hydrogenics has a portfolio of products and capabilities serving "the hydrogen and energy markets of today and tomorrow." The company is based in Mississauga, Ontario, Canada, and has operations in North America, Europe and Asia.