Hydrogenics Receives Second Order for Multiple Test Stations from Leading Korean Energy Company

Hydrogenics Corp (HYGS) announced it has received orders for three FCATS® fuel cell test stations from GS Caltex, a leading Korean energy company. Hydrogenics will provide a FCATS G300 Test Station and two FCATS G50 Test Stations with delivery expected in 2006. The test stations will be used to advance GS Caltex's activities in new and emerging energy technologies, including small stationary fuel cell applications (below 10 kilowatt) for residential use.

Plug Power to Receive $217 Million Cash Investment From Interros and Norilsk Nickel

Plug Power Inc (PLUG) announced that Interros, a major Russian investment firm, and Norilsk Nickel, the world's largest producer of nickel and palladium, agreed to make a $217 million cash investment in Plug Power. The investment is being made through Smart Hydrogen, a joint venture of the principal Interros investors and Norilsk Nickel, which was formed to participate in the global hydrogen economy. After this investment Plug Power will have approximately $285 million in cash. The shares of PLUG are up over 20% this morning in pre-market trading.

U.S. Army and Quantum Technologies Unveil the Hydrogen Escape Hybrid

Quantum Fuel Systems Technologies Worldwide Inc (QTWW) unveiled a hydrogen-hybrid demonstration vehicle today at the 2006 SAE World Congress in Detroit. Using a Ford Hybrid Escape as the demonstrator platform, the Army's Tank Automotive Research, Development and Engineering Center (TARDEC), with its National Automotive Center (NAC), and industry partner Quantum, is working to pair hybrid electric vehicles with a hydrogen delivery and storage system. Part of the 21st Century Base Initiative, this technology has the potential to offer a cost-effective alternative to full fuel cell powered vehicles.

Hydrogenics Warns of Production Delays

Hydrogenics Corp (HYGS) warned that due to production delays first-quarter revenue will fall below year-ago levels, and will miss Wall Street's target. The company said it expects revenue of between $4.5 million and $6.5 million, compared with the $11.3 million it posted in the prior year quarter. Analysts, on average, expect first-quarter revenue of $11.8 million. Shares of Hydrogenics have fell sharply over the last couple of days.

Tokyo Gas Evaluating FuelCell Energy’s DFC(R) Products for Introduction to Customers of Its Energy...

Fuelcell Energy Inc (FCEL) announced that Tokyo Gas has initiated a program to evaluate a Direct FuelCell® (DFC®) power plant for introducing these units to customers of its energy and industrial gas divisions. The unit is currently located at Kawasaki Heavy Industries' factory in Akashi, Japan, where Tokyo Gas will evaluate the power plant under a variety of expected operating conditions focusing particularly on grid interconnection performance. Tokyo Gas has agreed to install this DFC300A power plant at its new R&D center in Tsurumi in the second quarter of 2006.

Hydrogenics Provides Warning on First Quarter Revenue

Hydrogenics Corp (HYGS) warned that first-quarter revenue would be below expectations because of production delays in its OnSite Generation unit. Hydrogenics said it expects revenue of $4.5 million to $6.5 million during the quarter. The Company also anticipates that it will secure a minimum of approximately $7.0 million of new orders in the first quarter of 2006.

ChangeWave Research Fuel Cells, Hydrogen, and Battery Technology Trends

The ChangeWave Alliance has produced a detailed look at the key trends for fuel cells and future battery technology. I have been given permission to post the abstract of this 13 page report. Overview: This report focuses on key trends in fuel cells and hydrogen, along with battery technologies. The findings are from the Alliance's most recent alternative energy survey, completed February 10, 2006. A total of 121 members working in the alternative energy industry participated, including 25 working in companies involved with Fuel Cells. Bottom Line: Respondents working in alternative energy believe that over the next...

Plug Power and GE Terminate Joint Venture

Plug Power Inc (PLUG) announced that it is terminating a distribution joint venture with a unit of General Electric Co. and said a GE executive had resigned from its board. Plug Power said it and GE MicroGen Inc. would terminate the GE Fuel Cell Systems joint venture. As a result, Plug Power can now sell its products to anyone without obligation to General Electric, the company said in a regulatory filing. Shares of Plug Power are down 1% in pre-market trading.

Hydrogenics Awarded Contract to Supply Hydrogen Generators to China’s Largest Energy Companies

Hydrogenics Corp (HYGS) announced that it has received orders to supply electrolysis-based hydrogen generator plants to two of China's largest energy companies. China Electric Power Energy Group and China National Power have each purchased a HySTAT-A Hydrogen Plant, capable of producing 10 Nm3/h of high purity hydrogen at a pressure of 25 bar. In both cases, the hydrogen produced will be used to cool the generators in a coal-fired power plant. Delivery of both orders is expected to take place in 2006.

Quantum Delivers Hydrogen Hybrid Vehicles to Burbank

Quantum Fuel Systems Technologies Worldwide Inc (QTWW) announced the delivery of five hydrogen-fueled Toyota Prius hybrid vehicles to the City of Burbank, California. This is part of a larger South Coast Air Quality Management District (AQMD) program to develop and demonstrate 30 hydrogen hybrid vehicles to fleets in Southern California. The formal delivery will take place during a ceremony to be held today at the City of Burbank's Public Works Yard. Under contract to the AQMD, Quantum engineered a state-of-the-art OEM-caliber hydrogen fuel system, optimized the performance of the vehicle system, completed accelerated long-term durability testing, and performed...

Ovonic Hydrogen Hybrid Vehicle Begins Fleet Testing at South Coast AQMD

Energy Conversion Devices Inc (ENER) has now started fleet testing at the South Coast Air Quality Management District (AQMD) in Diamond Bar, California. A project of Ovonic Hydrogen Systems LLC, a subsidiary of ECD Ovonics, the advanced vehicle is a high-profile test bed designed to prove that hydrogen hybrids can be practical in daily life. The high-tech vehicle also serves to showcase Ovonic® solid metal hydrogen storage technology. Based on a production gasoline-electric hybrid model, it is part of a five year, $7 million multi-vehicle hydrogen hybrid demonstration at AQMD.

Plug Power Announces New Agreements With Honda for Next Phase of Home Energy Station

Plug Power Inc (PLUG) announced two new agreements with Honda R&D Company, Ltd. of Japan to continue expanding the companies' collaborative efforts. The first of the new agreements covers the fourth consecutive phase of joint development of the Home Energy Station. The Home Energy Station is a fuel cell system that provides electricity and heat to a home or business, while also providing hydrogen fuel for a fuel cell vehicle. The companies completed the previous phase in November 2005 with the successful commissioning of the third-generation Home Energy Station at Honda R&D Americas' facility in Torrance, Calif. This...

Plug Power announces S. Korea distribution for GenCore fuel cells

Plug Power Inc (PLUG) announced agreements with LoganEnergy Corp. and Pacific Telepoint Inc. to distribute its GenCore product line to customers in the United States and South Korea, respectively. These new distributors will be targeting customers in the telecom, utility and public sectors, where the need for reliable, extended-run backup power is critical.

FuelCell Energy Selected by U.S. Department of Energy to Develop a Coal-Based Multi-Megawatt Solid...

Fuelcell Energy Inc (FCEL) announced it has been selected by the U.S. Department of Energy (DOE) as a prime contractor of a third project team to develop a coal-based multi-megawatt solid oxide fuel cell (SOFC) system. The total project award for the 10-year, three-phase Fuel Cell Coal-Based System program is approximately $85 million. The project is subject to negotiation of a final agreement. The program's goal is to develop a multi-megawatt SOFC power system, 100 megawatts and larger, with at least 50 percent overall efficiency in converting energy contained in coal to grid electrical power. This compares to...

FuelCell Energy and Capstone Achieves Record in Electrical Efficiency

Fuelcell Energy Inc (FCEL) and Capstone Turbine Corp (CPTC) announced that its patented Direct FuelCell/Turbine® (DFC/T®) achieved a record-setting performance establishing a mark of 56 percent electrical efficiency in the sub-megawatt (sub-MW) class for 800 continuous hours during initial testing. This significantly exceeds the electrical efficiency of other distributed generation technologies of similar size. For example, gas engines have an electrical efficiency of 30 to 42 percent, low temperature fuel cells have an electrical efficiency of 30 to 35 percent and microturbines have an electrical efficiency of 25 to 30 percent. I always love when...

Hydrogenics Delivers Fuel Cell Backup Power Generator to Bell Canada Telecommunication Site

Hydrogenics Corp (HYGS) announced the successful delivery and commissioning of a hydrogen fuel cell backup power generator at a Bell Canada telecommunication site in Burlington, Ontario. The backup power generator, developed in collaboration with Emerson Network Power, a business of Emerson (EMR), uses Hydrogenics' 8 kW HyPM® XR fuel cell power module. This project, announced in 2005 as part of Toronto's Hydrogen Village initiative, was made possible through an investment from the Government of Canada's 'Hydrogen Early Adopters' program (h2EA).