Hydrogenics Signs Agreement With LiftOne

Hydrogenics Corporation (TSX:HYG.TO) (NASDAQ:HYGS) has entered into a distribution agreement with LiftOne, a division of Carolina Tractor.

LiftOne is Hydrogenics’ first distributor for the company’s HyPX(TM) 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 CEO. “Through their 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. By tapping into these strengths, Hydrogenics can accelerate the sales process in reaching these key customers. We see LiftOne as an excellent partner to introduce the features and benefits of hydrogen and fuel cells to future customers in the Greater Carolina region.”

“As their first HyPX Power Pack distributor, LiftOne is proud to represent the fine products of Hydrogenics. They have demonstrated to us the opportunities that exist for our customers to help them lower their costs, increase their productivity, as well as help us all improve the quality of our lives through the proper application of fuel cell technologies. We are looking forward to incorporating these products into our already extensive portfolio of materials handling equipment to help our customers. It’s definitely a ‘win-win’ for all of us.”

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.