BNET Industries
Market Cap:$43.0M
Last Fiscal Year Sales:$37.9M
- Public
- CA
Dow Jones Description
Hydrogenics, together with its subsidiaries, designs, develops and manufactures hydrogen generation products based on water electrolysis technology and fuel cell products based on proton exchange membrane, or PEM technology. We were incorporated under the Canada Business Corporations Act in 1988 and commenced our fuel cell development activities in 1996. We maintain operations in Belgium, Canada and Germany. We operate in various geographical markets and organize ourselves in four reportable segments. Our OnSite Generation business segment is based in Oevel, Belgium and develops products for industrial gas, hydrogen fueling and renewable energy storage markets. For the year ended December 31, 2008 our OnSite Generation business reported revenues of $31.2 million and at December 31, 2008 had 73 full-time employees. Our Power Systems business segment is based in Mississauga, Canada with a satellite facility in Gladbeck, Germany. This segment develops products for stationary and motive power applications. For the year ended December 31, 2008 our Power Systems business reported revenues of $5.6 million and at December 31, 2008 had 81 full-time employees. Our Test Systems business segment is based in Burnaby, Canada and provided fuel cell testing services and sold fuel cell test stations. ...
President and Chief Executive Officer
Daryl WilsonNumber of Employees 265
Contact Information
5985 McLaughlin Road
Mississauga, Ontario L5R 1B8
(905) 361-3660
Peer Companies
NAICS Code Motor and Generator Manufacturing: 335312
Recent Events
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Hydrogenics acquires Algonquin Power Income Fund
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Hydrogenics closes financing with Algonquin Power
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Hydrogenics loses $5.43-million (U.S.) in Q3
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Hydrogenics Announces Contract with Vision Industries Providing Fuel Cells for Commercial Truck Applications
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Revenues down for pair of companies
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Hydrogenics receives court approval for financing
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Hydrogenics terminates supply deal with American Power
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Tax transactions key in Algonquin Power, Hydrogenics deal
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Hydrogenics Announces Non-Dilutive Financing
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Hydrogenics loses $3.99-million (U.S.) in Q1 2009
News & Analysis
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hydrogenics corp. - All News and Analysis
Morning Stock News.
M2 PRESSWIRE-20 February 2008-Businessnetwire.us: Morning Stock NewsC1994-2008 M2 COMMUNICATIONS LTD RDATE:20022008 New York, NY -- QED Connect, Inc. (PINKSHEETS: QEDC); Hydrogenics Corporation (NASDAQ: HYGS); Bayswater Uranium Corporation (PINKSHEETS: BYSWF); Miranda Gold Corp. (OTCBB: MRDDF); Enterra Energy Trust (NYSE: ...
Speak with other shareholders about: (NASDAQ: HYGS), (PINKSHEETS: BYSWF), (OTCBB: MRDDF), (NYSE: ENT), (AMEX: CHQ).
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Stocks to Watch.
M2 PRESSWIRE-15 January 2008-StockProfiler.US: Stocks to WatchC1994-2008 M2 COMMUNICATIONS LTD RDATE:15012008 New York, NY -- PureSpectrum, Inc. (PINKSHEETS: PSPM); USA Superior Energy Holdings, Inc. (OTCBB: USSU); Innova Robotics & Automation (OTCBB: INRA); Callidus Software Inc. (NASDAQ: CALD); Universal ...
Hydrogenics Selected to Provide Hydrogen Generation System to Air Liquide Canada to Support BC Transit's Hydrogen Highway
Hydrogenics Corporation (TSX: HYG)(NASDAQ: HYGS), a designer and manufacturer of hydrogen and fuel cell systems, today announced that it has been selected by Air Liquide Canada to provide a hydrogen generation system to support BC Transit's fleet of 20 fuel cell-powered buses. The system is anticipated to be delivered in...
Hydrogenics Selected to Provide Hydrogen Generation System to Air Liquide Canada to Support BC Transit's Hydrogen Highway; Proprietary Electrolysis Product Generates Zero Emission Transportation Fuel.
MISSISSAUGA, ONTARIO, Dec 17, 2007 Marketwire via COMTEX -- Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a designer and manufacturer of hydrogen and fuel cell systems, today announced that it has been selected by Air Liquide Canada to provide a hydrogen generation system to support BC Transit's fleet of 20...
AXR, CEA, ANGO, HYGS, LCUT, FMLY Have Been Removed From Naked Short List Today.
M2 PRESSWIRE-13 February 2007-BUYINS.NET: AXR, CEA, ANGO, HYGS, LCUT, FMLY Have Been Removed From Naked Short List TodayC1994-2007 M2 COMMUNICATIONS LTD RDATE:13022007 BUYINS.NET, www.buyins.net, announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE naked short...
COOL, HYGS, LCUT, HFIT, IVCM, TYRIA Have Also Been Added To Naked Short List Today.
M2 PRESSWIRE-6 February 2007-BUYINS.NET: COOL, HYGS, LCUT, HFIT, IVCM, TYRIA Have Also Been Added To Naked Short List TodayC1994-2007 M2 COMMUNICATIONS LTD RDATE:06022007 BUYINS.NET, www.buyins.net, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked...
GTU, TEC, VSE, BWTR, DRYS, HYGS Have Been Added To Naked Short List Today.
M2 PRESSWIRE-11 December 2006-BUYINS.NET: GTU, TEC, VSE, BWTR, DRYS, HYGS Have Been Added To Naked Short List TodayC1994-2006 M2 COMMUNICATIONS LTD RDATE:11122006 BUYINS.NET, www.buyins.net, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked short...
Hydrogenics & partners receive FC industrial vehicle funding.(fuel cell)(Sustainable Development Technology Canada)(General Motors of Canada Ltd., Hydrogenics Corp. and NACCO Materials Handling Group Inc. receives funding)(Brief article)
Hydrogenics & partners receive FC industrial vehicle funding. General Motors of Canada, NACCO Materials Handling Group, Inc. and Hydrogenics Corp. have received funding from Sustainable Development Technology Canada for a demonstration project that will drive advancement of hydrogen technologies for application in commercial lift trucks...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Daryl Wilson | President and Chief Executive Officer |
| Joseph Cargnelli | CTO |
| Lawrence E. Davis | Cfo |
| Bart Van Ouytsel | Reg Vice President, Operations |
| Jennifer Barber | Vice President Finance & Corporate Controller |
| John Werderman | Vice President Business Development, Power Systems |
| Mel Ogmen | Vice President, Operations |
| Ravi N. Gopal | Vice President |
| Salil Munjal | Vice President, Corporate Development |
| Wido Westbroek | Vice President and General Manager |
| Douglas S. Alexander | Director |
| Frank Colvin | Director |
| Michael Cardiff | Director |
| William Szkodinski | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Norman M. Seagram | Chairman |
| Pierre Rivard | Founder and Executive Chair |
| Doug Alexander | Board of Directors |
| Henry J. Gnacke | Board of Directors |
| Hugo Vandenborre | Vice Chairman |
| James Sardo | Board of Directors |
| V. James Sardo | Board of Directors |
| William Szkodzinski | Board of Directors |
Daryl Wilson was appointed President and Chief Executive Officer in December 2006, bringing a varied 25-year background in technology and industrial management to the company, including operations, manufacturing, human resources, research, product development, organizational change and turn-around experience. Prior to joining Hydrogenics, he held senior leadership positions at Royal Group Technologies, Zenon Environmental, Toyota and Dofasco. Daryl began his career with a Bachelor's degree in Chemical Engineering from the University of Toronto. In 1990, Daryl also earned an MBA from McMaster University in Operations Management/Management Science.
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | President and Chief Executive Officer | Current |
| Hydrogenics Corporation | Director | Current |
| McMaster University | MBA | Former |
| University of Toronto | Bachelor's Degree In Chemical Engineering | Former |
Joseph Cargnelli is one of our company's founders and has served as a Hydrogenics Director since January 1996. He became Vice President, Technology in July 2000. Joe is known for his hands-on approach to engineering and his dedication to finding efficient and effective engineering solutions. Previously, Joe worked for a year (1992-93) as a Research Engineer with the Laboratory of Advanced Concepts in Energy Conversion Inc., a laboratory engaged in the research, development and demonstration of alkaline fuel cells and hydrogen storage methods. He has his Master's degree in Applied Science, Mechanical Engineering from the University of Toronto, where he also received his Bachelor's degree in the same field. "Coming from an engineering research background, it's very satisfying to see how the potential of hydrogen power is now making headway in practical applications such as lift trucks, UPS systems and solar and wind power installations. This is a new era, and Hydrogenics is in a great position to help make it happen."
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | CTO | Current |
| Stuart Energy Systems Corporation | Director | Current |
| Hydrogenics Corporation | Director | Current |
| University of Toronto | Master's Degree In Applied Science | Former |
| University of Toronto | Bachelor of Applied Science Degree In Mechanical Engineering | Former |
Lawrence E. Davis is the Chief Financial Officer of Hydrogenics Corporation and joined the company in 2005. He is responsible for Hydrogenics' overall financial management ensuring timely and accurate financial reporting, in addition to leading Hydrogenics' investor relations activities. Prior to joining Hydrogenics, Lawrence held senior financial and operational positions at several high growth North American technology businesses. In 1997, he founded Saturn Capital Corporation, a privately held merchant bank, to advise and invest in emerging growth businesses. Lawrence holds a Bachelor of Arts degree from the University of Toronto and is a member of the Canadian Institute of Chartered Accountants of Ontario. "The exciting thing for me about Hydrogenics is the opportunity to work with a large market presence while doing something beneficial for environmental and sustainability issues."
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Cfo | Current |
| University of Toronto | Bachelor of Arts degree | Former |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Reg Vice President, Operations | Current |
| Hydrogenics Corporation | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| Stuart Energy Systems Corporation | Vice President Finance & Corporate Controller | Current |
| Hydrogenics Corporation | Vice President Finance & Corporate Controller | Current |
John Werderman has over 30 years of executive management experience in large, small and start-up companies. He has served in various roles as CEO, President, COO, and CFO within the Hi-Tech Industry. Most recently, John held the position of President/CEO of ReliOn, Inc (aka Avista Labs) and raised $25 Million Dollars for their second round of financing. Prior to that, he was President of IBUS/Phoenix, a subsidiary of Maxwell Technologies, focused on high reliability applied computer and power quality systems for the telecommunications industry. John grew the company from $22 Million to $65 Million within four years. He has extensive experience in the domestic and the international marketplace, both Commercial and Government sectors. John has an undergraduate in Accounting, MBA and CPA.
| Organization | Position | Status |
|---|---|---|
| Delta Angel Group | CEO, President | Current |
| Hydrogenics Corporation | Vice President Business Development, Power Systems | Current |
| Delta Angel Group | Board of Directors | Current |
| ReliOn, Inc. | CEO | Former |
| Maxwell Technologies, Inc. | President | Former |
| ReliOn, Inc. | President | Former |
| I-Bus/Phoenix, Inc. | President | Former |
| Keller Graduate School of Management | Masters In Business Administration | Former |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Vice President, Operations | Current |
| Hydrogenics Test Systems Corporation | Vice President, Operations | Former |
| Hydrogenics Corporation | Board of Directors | Former |
| York University | Ph.D. (Physics) | Former |
| University of Manitoba | M.Sc. (Physics) | Former |
| University of Nottingham | B.Sc. in Physics | Former |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Vice President, Corporate Development | Current |
| Torys LLP | Lawyer | Former |
| University of Toronto | Bachelors In Science | Former |
| Queen's University | Degree | Former |
Lawrence E. Davis , Chief Financial Officer and Corporate Secretary. Mr. Davis has served as our Chief Financial Officer since April 1, 2005. Mr. Davis has over 20 years of financial and operational experience. He has been a Chartered Accountant since 1987. From 1999 to 2003, Mr. Davis was the Chief Financial Officer of GDI Global Data Inc., a wireless data services company. Mr. Davis also acted as the President of Saturn Capital Corporation, a merchant bank that advises, invests in and assumes senior management positions for high growth businesses from 1997 until 1999. From 1987 to 1997, Mr. Davis served as a Vice President for PricewaterhouseCoopers LLP and he previously worked for two years with Ernst & Young.
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Vice President and General Manager | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Chairman | Current |
| Hydrogenics Corporation | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Founder and Executive Chair | Current |
| Hydrogenics Corporation | President & CEO | Former |
| University of Toronto | Master's degree in Mechanical Engineering | Former |
| The University of Western Ontario | Master's degree in Business Administration | Former |
| Royal Military College of Canada | Bachelor's degree in Mechanical Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Director | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Director | Current |
Henry J. Gnacke , Director. Mr. Gnacke joined our Board of Directors in May 2008. Formerly, Mr. Gnacke was the Executive Director, Global Purchasing Supply chain at General Motors. He was responsible for fuel cell propulsion systems and General Motors E-Flex programs. Mr. Gnacke has over 30 years of experience and has held numerous positions at General Motors, including several international assignments in the Middle East, Asia and Europe. Mr. Gnacke is the nominee of General Motors in connection with our strategic alliance with General Motors.
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Vice Chairman | Current |
| Hydrogenics Corporation | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| Northstar Healthcare Inc. | Chair of Compensation Committee, Nominating and Governance Committee | Current |
| Hydrogenics Corporation | Board of Directors | Current |
| New Flyer Industries Inc | Board of Directors | Current |
| Kilbride Partners | Board of Directors | Current |
| Royal Group Technologies | Interim President, CEO | Former |
| SMK Speedy International, Inc. | CEO | Former |
| SMK Speedy International, Inc. | President | Former |
| Firestone Industrial Products Company | President | Former |
| Royal Group Technologies | Chairman | Former |
| Firestone Industrial Products Company | Chairman | Former |
| Custom Direct, LLC | Chairman | Former |
| Countryside Power Income Fund | Chairman | Former |
| Custom Direct Income Fund | Board of Directors | Former |
| Custom Direct, LLC | Director | Former |
| Royal Group Technologies | Board of Directors | Former |
Mr. Cardiff is the Chief Executive Officer of Accelerents Inc., a strategic consulting company focusing on mergers, acquisitions, sales and marketing. Accelerents' clients include Imperial Capital Corporation, a Toronto-based merchant bank, where Mr. Cardiff has led their acquisition strategy in the technology sector. Prior to his role at Imperial Capital, Mr. Cardiff was President and CEO at Inea Corporation, a provider of business performance management software for financial institutions; President and CEO of Fincentric Corporation, a software provider for global financial institutions; and Executive Vice President of business and technology solution provider EDS Canada Inc.
| Organization | Position | Status |
|---|---|---|
| The Descartes Systems Group, Inc. | Chief Executive Officer, Accelerents Inc. | Current |
| Descartes Gf-X | Board of Directors | Current |
| Hydrogenics Corporation | Director | Current |
| Flagship Customs Services, Inc. | Board of Directors | Current |
| The Descartes Systems Group, Inc. | Board of Directors | Current |
| Fincentric | CEO | Former |
| Fincentric | President | Former |
| Husky Injection Molding Systems Ltd. | Director | Former |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Director | Current |
| Organization | Position | Status |
|---|---|---|
| Hydrogenics Corporation | Board of Directors | Current |
Executive News
-
Hydrogenics Obtains Interim Order for Plan of Arrangement
| Volume | 89,234 |
| Shares Outstanding | 0. |
| Market Cap | 43.0M |
| Year High | 0.81 |
| Year Low | 0.29 |
| Earnings Per Share | -0.19 |
| P/E Ratio | N/A |
| Dividend | 0.00 |
| Yield | 0.00 |
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