Hydrogenics Corporation was incorporated on June 10, 2009 under the Canada Business Corporations. In August 1995, it commenced its fuel cell technology development business, and in 2000, changed its name to Hydrogenics Corporation. The Company is a developer and provider of hydrogen generation and fuel cell products. It conducts its business into two business units: OnSite Generation focused on hydrogen generation products; and Power Systems focused on fuel cell products. These business units are supported by a corporate services group providing finance, insurance, investor relations, communications, legal, treasury, human resources, strategic planning, compliance, and other administrative services. The Company's OnSite Generation group sells hydrogen generation products to industrial, transportation and renewable energy customers. Power Systems group sells fuel cell products to original equipment manufacturers, systems integrators and end users for stationary applications such as backup power and light mobility applications such as forklift trucks. Its products are sold to OEMs, systems integrators and end-users through a direct sales force and a network of distributors. Its sales method varies depending on the product offering, market and stage of technology adoption. The Company is not subject to regulatory commissions governing traditional electric utilities and other regulated entities in any of the jurisdictions in which it operates. Its products are, however, subject to oversight and regulation by governmental bodies with regard to building codes, fire codes, public safety, electrical and gas pipeline connections and hydrogen siting, among others.
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