Hydrogenics Corporation (Nasdaq: HYGS; TSX: HYG) has signed an agreement with Japan’s Hitachi Zosen Corporation (Hitz) to develop hydrogen fuel cell-based power products.
Hydrogenics will combine its expertise in hydrogen fuel cell power systems with Hitz’ power technology and experience with Japanese power markets. “Japan is one the key countries leading the hydrogen economy, and this agreement with Hitz will help Hydrogenics take advantage of these opportunities,” said Pierre Rivard, Hydrogenics’ president and CEO. “This relationship will allow us to showcase our HyPM technology to the Japanese market, while allowing Hitz to enter into power markets that are currently untapped.”
The collaboration between Hitz and Hydrogenics will focus on stationary power applications, but will also investigate markets for transportation and hydrogen generation.
Hitachi Zosen Corporation (http://www.hitachizosen.co.jp) provides environment, energy, industrial machinery, precision machinery, electronic and information systems in an integrated manner. The company is working to cut greenhouse gases, utilize renewable energy and make effective use of waste heat.