MISSISSAUGA, Ontario, July 30, 2018 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG) (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that the Company will participate in the Canaccord Genuity 38th Annual Growth Conference on August 8, 2018 in Boston. Management will provide an overview of the Company’s operations and outlook, and a live webcast of the Company’s presentation will take place at 9:00 a.m. Eastern. via Hydrogenics Corporation https://ift.tt/2OsLJu4
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The post PyroGenesis Announces Second DROSRITE™ Furnace System Ready for Shipment; Embraces New Tolling Strategy appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/2OkJ71h Vancouver, Canada, July 25, 2018 – Legend Power® Systems Inc. (TSXV: LPS) (“Legend Power” or the “Company”), a global leader in voltage management technology, announced today that it has implemented additional key elements of its U.S. expansion strategy. Extending the success seen in its Canadian buildout, and based on insights gained there, the Company is targeting five additional U.S. geographic markets with a team comprised of Company veterans and an external expert with proven corporate growth expertise. Director of Sales, Kathleen Reeves who was key to the successful development of Legend Power’s Ontario sales growth, has relocated to New York City to strengthen and expand the sales team there. New York, represents a significant opportunity for Legend Power. The Company has already completed a sale and installation with a Fortune 100 company in Manhattan, and is nearing completion of additional deals. Director of Business Development, Erik Wolfe is now focused on development of the additional five new U.S. markets by the end of 2018. Mr. Wolfe will leverage his direct experience and success in developing reseller channels in Canada to identify partners that have proven resources, aptitude and strong customer access. With thousands of potential resellers to choose from, the Company is applying knowledge of what has worked before, to attract the best available resellers. To further support and ensure the success of the U.S. expansion, Legend has engaged well- regarded corporate growth expert, Norman Friend to ensure the Company’s channel growth programs are world-class. The engagement of Franchise 101 Incorporated will focus on development of a complete “personalized reseller program” to ensure strong sales results for the Company’s growing U.S. reseller network. Mr. Friend has guided strategic growth structuring, implementation planning and execution across both Canada and the U.S. for hundreds of companies. “Our strategic plan for U.S. expansion is based on replicating what worked in Ontario, Canada’s biggest market,” said Legend Power® Systems CEO Randy Buchamer.
About Legend Power® Systems Inc. Legend Power® Systems Inc. (www.legendpower.com) is a global leader in voltage management technology. We help buildings use less energy by eliminating ‘overvoltage’; an inherent challenge associated with power grids around the world. Legend’s industry-proven HarmonizerTM enables dynamic power-management of an entire building. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend’s unique solution is also a key contributor to both corporate sustainability efforts, and the meeting of utility energy efficiency targets. Steve Vanry, CFO
Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. The post Legend Power® Executes Next Steps in U.S. Expansion Strategy; Select Reseller Network to be Provided with Compelling Opportunity appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2Lyk0to MISSISSAUGA, Ontario, July 19, 2018 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG) (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that the Company will host a conference call at 10:00 a.m. Eastern on August 2, 2018 to review the fiscal second quarter and six months ended June 30, 2018. Earnings will be issued before the market opens, and the filing of the company’s results with the appropriate regulatory bodies will follow. via Hydrogenics Corporation https://ift.tt/2uOJMPF
Energy Storage Site to Help Grid Stabilization in Ontario
Energy Storage Site to Help Grid Stabilization in Ontario via Hydrogenics Corporation https://ift.tt/2Ll6cm9 MISSISSAUGA, Ontario, July 16, 2018 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG) (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen generation and hydrogen fuel cell power systems, today announced that the Markham Energy Storage Facility, owned and operated under a joint venture between Hydrogenics and Enbridge Gas Distribution, is now providing regulation services under contract to the Independent Electricity System Operator (IESO) of Ontario. As previously announced, this project was originally awarded as one of several technology applications selected by the IESO for power grid stability and reliability services in the province. Regulation service is an important reliability function that corrects for short-term changes in electricity use and helps compensate for real-time supply and demand imbalances. The Enbridge-Hydrogenics 2.5MW facility – designed and built on a 5MW scalable platform – features the Company’s next-generation PEM electrolyzer technology, which has the highest power density and smallest footprint of any such system in the world. Daryl Wilson, President & CEO of Hydrogenics, stated, “We are very excited to have this latest, multi-megawatt Power-to-Gas facility up and running – here in our own back yard – providing the IESO with a fast-responding resource to enhance the flexibility and reliability of operating the grid. Drawing on our experience of providing large scale energy storage facilities in Europe, this new operation, managed with Enbridge, will be a showcase for our advanced technology in North America. With Markham up and running, Hydrogenics has now delivered over 25 megawatts of energy storage capacity using our Power-to-Gas expertise.” “I’ve worked in the energy sector my entire career and this is one of the most exciting projects in which I’ve ever been involved,” said Jim Sanders, President, Enbridge Gas Distribution. “I’m proud to see a Canadian company leveraging world-class Canadian technology to solve current energy challenges. Today is a major milestone for Enbridge and Ontario’s energy sector.” This project is another example of how the Company’s Power-to-Gas technology is transforming the energy sector through the production of renewable hydrogen for zero-emission fuel cell electric vehicles (train, bus and truck fleets) or other applications while providing grid services to System Operators. About Hydrogenics Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America and Europe. Vancouver, Canada, July 3, 2018 – Legend Power® Systems Inc. (TSXV: LPS), a global leader in voltage management technology, is pleased to announce the follow-on purchase of ten Harmonizer systems by an Ontario-based K-12 school board, totalling C$931,601. With this order, the purchasing school board will have outfitted 19 of its schools with Legend’s energy-saving solution. “We are delighted with the continued strong level of activity in the education vertical in Ontario, and note a significantly reduced sales cycle timeline associated with customer purchases in this vertical. As we continue to replicate the keys to success in our other targeted verticals and realize acceleration of adoption and growth in them, we anticipate a similar shortening of sales cycles,” said Randy Buchamer, CEO of Legend Power Systems. About Legend Power® Systems Inc. Legend Power® Systems Inc. (www.legendpower.com) is a global leader in voltage management technology. We help buildings use less energy by eliminating ‘overvoltage’; an inherent challenge associated with power grids around the world. Legend’s industry-proven Harmonizer enables dynamic power-management of an entire building. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend’s unique solution is also a key contributor to both corporate sustainability efforts, and the meeting of utility energy efficiency targets. For further information, please contact: Steve Vanry, CFO Sean Peasgood, Investor Relations Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. The post Legend Power® Receives C$931,601 Follow-on Purchase Order for Ten Harmonizer™ Systems appeared first on Legend Power Systems Inc.. via Legend Power Systems Inc. https://ift.tt/2tZ9aSs The post PyroGenesis Announces Grant of Incentive Stock Options appeared first on PyroGenesis Canada Inc.. via PyroGenesis Canada Inc. https://ift.tt/2z5FV6n Complementary product offering and increased distribution network present significant cross-selling opportunities
OTTAWA, ONTARIO / TheNewswire –Thermal Energy International Inc.(“Thermal Energy” or the “Company”) (TSXV: TMG ), a global provider of industrial and institutional energy efficiency solutions, today announced that it has acquired all of the outstanding shares of privately held Boilerroom Equipment Inc. (“BEI”) based just outside of Pittsburgh PA. This acquisition is part of the Company’s strategy to develop a broad portfolio of thermal energy efficiency solutions targeted at the industrial, institutional and commercial markets and become a unique one-stop-shop for all of its clients’ thermal energy efficiency and heat recovery needs, whether they need heat recovery for thermal, electrical, drying, cooling, or other process needs. The purchase price is USD 2.25 million, plus earn-out consideration of up to USD 350 thousand if certain growth and performance targets are achieved over the next three years. Thermal Energy has received a term loan in the principal amount of USD 2.25 million from BDC Capital Inc., a wholly owned subsidiary of the Business Development Bank of Canada to fund the transaction. Based in Export, Pennsylvania, BEI engineers and manufactures the HEATSPONGE ®brand of best-in-class indirect contact heat recovery units for use in both commercial and industrial steam and hot water applications. The acquisition of BEI is expected to provide Thermal Energy with the following immediate benefits:
“The addition of BEI supports our growth strategy by expanding our team, distribution and product offering,” said William Crossland, CEO of Thermal Energy. “This makes Thermal Energy the only known global supplier of direct and indirect contact heat recovery systems. In the past, these two options have competed against each other, but now Thermal Energy has brought them together. As the global market moves more towards sustainability, the effective use of waste heat becomes paramount. Whether waste heat is used directly at the client site, or used to produce cooling or electricity at neighbouring sites, the market for waste energy is extensive. With this acquisition, we are uniquely positioned to take advantage of this existing trend. In this way, this transaction brings together two very complementary organizations and is expected to add shareholder value through increased sales and earnings. We also expect to benefit from BEI’s strong United States distribution network and established boiler OEM relationships. Similarly, there is potential for further growth using Thermal Energy’s global footprint to accelerate the deployment of BEI’s technologies. We are already very familiar with, and impressed by, BEI’s products, having integrated them into several of our projects over the years.” “I would also like to take this opportunity to welcome Vince Sands P.E., co-founder and current President of BEI, and his team to our company,” added Mr. Crossland. “As a registered professional engineer with a Bachelor of Science in Naval Architecture and Marine Engineering from the United States Merchant Marine Academy, Master of Business Administration studies, and a former United States Navy and US Coast Guard licenced engineering officer, Vince brings over 25 years of related industry experience and expertise to the combined business. In addition to being responsible for all sales, engineering and product development at BEI, Vince developed the heat transfer algorithms and computer code for their unmatched BRUCE engineering software.” Mr. Sands commented: “We are extremely pleased to be a part of Thermal Energy International. While I am very proud of the company we founded and built, we recognized that for BEI to achieve everything it is capable of would require partnering with a larger organization that can provide the resources BEI needs. It is my strong opinion that our HEATSPONGE line of steam boiler economizers represents the most advanced technology available to the global heat recovery market. Our SIDEKICK and RAINMAKER technologies have the potential to reshape the hydronic boiler market unlike any product since the development of the condensing boiler. We have invested over three years seeking the ideal acquisition partner and could not be more pleased in becoming a part of Thermal Energy. There is a real synergy between their direct contact and our indirect contact approach to heat recovery. Having supplied heat exchangers to Thermal Energy for years will make integration much smoother because of the established relationships. Most importantly, they share my passion to establish HEATSPONGE as the global leader in indirect heat recovery, which is going to make the next few years very exciting.” The acquisition expands Thermal Energy’s complementary product offering to include BEI’s indirect contact heat recovery products, which are scalable and customizable with minimal additional engineering. In addition to large industrial and institutional applications, these products are well-suited for the commercial market as well as smaller industrial and institutional sites that are not currently cost-effective for Thermal Energy’s FLU-ACE ® heat recovery systems. The acquisition also provides Thermal Energy with access to an engineered products distribution network of independent manufacturers’ representatives in the United States, Canada and parts of South America, a s well as an established direct sales channel to boiler equipment manufacturers. The USD 2.25 million purchase price is subject to a holdback of USD 250 thousand (the “Holdback Amount”) to be held for a period of 18 months following the closing of the acquisition in respect of certain indemnification obligations. Upon release, the balance of the Holdback Amount can be paid in cash or by the issuance of Thermal Energy shares, at the option of the vendors. In the event that Thermal Energy opts to pay the earn-out consideration by the issuance of shares, those share will be issued at a price per share equal to the greater of the fifty-two week volume weighted average price of shares of the Company on the Exchange ending on the day prior to the day that the relevant earn-out payment is due to be paid and the Discounted Market Price (as such term is defined in the Exchange’s Policy 1.1. In the event that the vendors opt to have the Holdback Amount satisfied by the issuance of shares, those share will be issued at a price per share equal to the greater of the five day volume weighted average price of shares of the Company on the Exchange ending on the day prior to the closing of the acquisition and the Discounted Market Price (as such term is defined in the Exchange’s Policy 1.1 BEI's annual sales in each of the last two years was approximately USD 1.8 million while net income after adjusting for non-recurring expenses was $248, thousand last year and $201 thousand the year before. BDC Capital’s Growth and Transition team provided a USD $2.25 million dollar loan to Thermal Energy in support of the BEI acquisition. The debt is secured by Thermal Energy International Inc. and each of its material subsidiaries, has a term of 84 months and a floating interest rate, The initial interest rate is 9.1%. “We’re proud to support Thermal Energy’s continued growth in this key industry sector. By expanding its product suite and distribution network, we believe this acquisition will further solidify Thermal Energy as an energy efficiency and emissions reduction industry leader,” says Sean Crouse, Director BDC Growth and Transition Capital for the Ottawa/Outaouais regions. About BDC Capital BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital . About Boilerroom Equipment Inc. Boilerroom Equipment Inc. (“BEI”) was, prior to the acquisition, a privately held U.S. company based in Export, Pennsylvania, focused on the design, engineering and manufacturing of its proprietary HEATSPONGE™ indirect contact heat recovery systems. BEI was founded in 2005 by Barry Alberts and Vince Sands, P.E. with the vision of producing the most advanced technology for the commercial and industrial boiler industries supported by a new generation of automated design software. Easily maintainable and available in various metallurgies best suited to each individual application, the HeatSponge represents the state-of-the-art in global indirect contact boiler design. Condensing, multi-stage designs are resulting in efficiency gains greatly exceeding older heat recovery technology. The HeatSponge SIDEKICK and RAINMAKER reflect a first-to-market technology that enables existing conventional efficiency boilers to be retrofitted to high efficiency condensing at far lower cost. All of BEI’s indirect contact heat exchangers are supported by “BRUCE”, an automated software system that provides the majority of sales engineering and proposal support for the product line in real time. With potentially thousands of different permutations of the SIDEKICK and RAINMAKER alone, this next generation of highly advanced heat exchangers could not be commercially viable without the support of the BRUCE design and optimization software. About Thermal Energy International Inc. Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors. Thermal Energy is also a fully accredited professional engineering firm and by providing a unique mix of proprietary products together with process, energy and, environmental engineering expertise, Thermal Energy is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers. Thermal Energy's proprietary products include; GEM - Steam traps, FLU-ACE ® - Direct contact condensing heat recovery, and Dry-Rex ® - Low temperature biomass drying systems. Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Germany, Italy and China. The Company’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG. For more information, visit the company's website at www.thermalenergy.com and follow them on Twitter at http://twitter.com/GoThermalEnergy . |
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