Boston, MA 05/29/2013 (wallstreetpr) – Hydrogenics Corporation (NASDAQ:HYGS): In Tuesday’s trading session, shares of Hydrogenics Corporation (NASDAQ:HYGS) rose by 17.53%. The opening price $12.04 touched an intraday high of $12.74 before dipping to $11.50 per share. More than 0.571M shares were traded in Tuesday’s trading session which was higher than the average volume of 0.427M that was measured over a period of 30 days
Hydrogenics Corporation (NASDAQ:HYGS) was incorporated on 10 June 2009. Along with its subsidiaries, the company is engaged in designing, developing and providing hydrogen generation as well as various fuel cell products. These products are based on the proton exchange membrane and water electrolysis technology. Hydrogenics Corporation (NASDAQ:HYGS) conducts its business via two different business units: OnSite Generation. This unit focuses on hydrogen generation products that are used by industrial, renewable energy as well as transportation customers.
The second unit, Power Systems, is focused on fuel cell products that are used by original equipment manufacturers, systems integrators as well as end users who use it for stationary applications. These applications include backup power, and in motive applications, such as in forklift trucks. Hydrogenics Corporation (NASDAQ:HYGS)’s products include the HySTAT hydrogen-generation equipment from its OnSite Generation business and HyPM fuel cell products from its Power Systems business.
Hydrogenics Corporation (NASDAQ:HYGS) has operations in Canada, Belgium and Germany. The OnSite Generation business-segment is located in Oevel, Belgium. It develops products that are used in the hydrogen fueling, industrial gas, and the renewable energy-storage markets. Its Power Systems business segment is located in Mississauga, Canada. It has a satellite facility which is situated in Gladbeck, Germany.
