Hydrogenics Announces US$20.5 million Private Placement and Technology Partnership with Air Liquide

MISSISSAUGA, Ontario, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (the “Company” or “Hydrogenics”), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel cell modules, today announced that it has entered into a subscription agreement with The Hydrogen Company, a wholly-owned subsidiary of Air Liquide S.A. (“Air Liquide”), to issue 3,537,931 common shares of Hydrogenics to Air Liquide on a private placement basis, for gross proceeds to Hydrogenics of US$20,520,000 (the “Private Placement”) or approximately US$5.80 per common share. Hydrogenics intends to use the proceeds of the Private Placement primarily for the purpose of funding current operations, technology developments and future scale-up of partners. Following completion of the Private Placement, Air Liquide’s interest in Hydrogenics is expected to be approximately 18.6%.

via Hydrogenics Corporation http://bit.ly/2EGhRZz