Hydrogenics And PEI Energy Corporation Partner To Develop Prince Edward Island Wind-Hydrogen Village Project
$10.3 million project - the world's first of its kind - awarded funding through h2EA programNorth Cape, Prince Edward Island, April 22, 2005 - Prince Edward Island Premier Pat Binns and Randall MacEwen, Vice President, Corporate Development of Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG), announced today that Hydrogenics and Prince Edward Island Energy Corporation will lead a consortium of industry and government partners to develop Canada's first wind-hydrogen village demonstration - the Prince Edward Island (PEI) Wind-Hydrogen Village Project. This multi-faceted initiative will demonstrate, in real-life and in real-time, how wind energy and hydrogen technologies can work together to offer clean and sustainable energy solutions across a wide range of applications. As announced in an Industry Canada release today, the $10.3 million project is receiving an investment of $5.1 million through the Hydrogen Early Adopters (h2EA) program of Technology Partnerships Canada. The Government of Prince Edward Island will invest $2.9 million in the three-year project. This includes $2.5 million in earnings from the North Cape Wind Farm and $425,000 from Prince Edward Island Business Development. Hydrogenics' reputation as a leader in the development of hydrogen technologies, and the Province's national leadership in developing wind energy facilities, provide a strong foundation on which to build a wind-hydrogen village in Prince Edward Island. The home of the Atlantic Wind Test Site (AWTS), Canada's only national wind test site, PEI now draws more than five per cent of its electricity from wind energy at North Cape, which is the site of today's announcement and the primary site of the project.
"Promoting and demonstrating wind and hydrogen technologies is a key component of our Government's Renewable Energy Strategy," said Prince Edward Island Premier Pat Binns. "We believe hydrogen technology will become an important part of the economy, and we are pleased to be a partner in this ground-breaking project. The Prince Edward Island Wind-Hydrogen Village will advance PEI's reputation as a centre for research and development of renewable energy technologies and contribute to our objective to reduce the province' s reliance on imported fossil fuels, achieve a measure of energy self-sufficiency, and protect our environment for future generations."
Noting that the company's reputation as a world leader in the development of hydrogen technologies is unparalleled, Premier Binns added that he is pleased to have Hydrogenics Corporation serve as project manager for the Prince Edward Island Wind-Hydrogen Village. "We are excited to be involved in this landmark project with an excellent roster of partners, both private and public," commented Randall MacEwen, Vice President of Hydrogenics Corporation. "With our diverse portfolio of hydrogen and fuel cell products and expertise, we believe we can bring the kind of comprehensive leadership to this project that will ensure its success. The PEI Government continues to demonstrate vision and leadership toward lessening PEI's dependence on imported power through the deployment of clean wind technologies. This next logical step - marrying up wind with hydrogen as a means of storing energy - has real potential to further reduce dependence on imported power, promote local economic development and promote environmental sustainability. PEI's strong wind regime, geographic size, political will, skilled work force and committed academic community make PEI a perfect location to demonstrate and deploy wind-hydrogen technologies. We believe this initiative will position PEI to become a model for future wind-hydrogen deployments globally, particularly for island and off-grid communities."
Over the course of the three years, the Prince Edward Island (PEI) Wind-Hydrogen Village Project will demonstrate solutions for a range of energy applications, including the installation of a hydrogen energy station, a hydrogen storage depot, and a wind-hydrogen and wind-diesel integrated control system to power the North Cape Interpretive Centre Complex, the Atlantic Wind Test Site, as well as other homes and buildings in the North Cape area. Subsequent phases are expected to include a hydrogen refueling station in Charlottetown to support the refuelling needs of up to three full-service hydrogen shuttle buses used in Charlottetown and the Charlottetown-North Cape corridor, as well as the deployment of fuel cell utility vehicles and the expansion of the wind-hydrogen village to provide energy for additional buildings and facilities, including at least one farm operation. The final phase of the project is expected to involve the introduction of a hydrogen-powered tour boat.
Further details on this project and its partners will be released in the coming months.
About Prince Edward Island
Located on Canada's east coast, Prince Edward Island's size, excellent wind regime, and strong commitment to renewable energy make the province an ideal location for leading edge energy research and development. The PEI Energy Corporation is a Crown corporation responsible for pursuing and promoting the development of energy systems and the generation, production, transmission and distribution of energy in Prince Edward Island.
Hydrogenics Corporation (www.hydrogenics.com) is a leading global developer of clean energy solutions, advancing the Hydrogen Economy by commercializing hydrogen and fuel cell products. The company has a portfolio of products and capabilities serving the hydrogen and energy markets of today and tomorrow. Hydrogenics, based in Mississauga, Ontario, Canada, has over 300 employees based in operations in North America, Europe and Asia.
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