On August 10‚ 2006‚ Hydrogenics Corp. hit the big one. The pioneering firm‚ co–founded by alumni Pierre Rivard (MEng 1994) and Joseph Cargnelli (Mech. 9T2‚ MASc 1995) received an order for 500 hydrogen fuel cells from American Power Conversion (APC) – the largest order ever for the global hydrogen fuel cell industry. “This is an important milestone – this is truly industry defining‚” said President and CEO Rivard.
In 1995‚ Hydrogenics was launched with just three employees and a dream: to be at the forefront of a global economy based on hydrogen. Hydrogen eliminates concerns over greenhouse gases and pollutants‚ it can be produced anywhere in the world (so it isn’t subject to price fluctuations or wars) and we will never run out of it.
Although its ultimate dream has yet to be realized‚ Hydrogenics is on its way. The Mississauga–based company now has 300 employees and operations in more than 100 countries. In 2005 it had net sales of $37.6 million. In 2004‚ the World Economic Forum called it a ‘Technology Pioneer’ and‚ in 2003‚ Profit magazine cited it as Canada’s fastest growing company.
Hydrogenics creates products for all levels of the hydrogen economy – generators that create the pure hydrogen gas‚ fuel cells that produce electricity using hydrogen‚ and test systems to assist in the development of fuel cells.
The automobile sector promises the most exciting future‚ including the potential for hydrogen–powered vehicles to generate electricity. To date‚ Hydrogenics has provided fuel cells for buses from Hawaii to Europe. It is also involved in projects with major OEMs and in the construction of fueling stations for California’s eagerly awaited ‘Hydrogen Highway’.
Rivard predicted it will be at least three years before consumers can buy hydrogen cars‚ if not more. In the meantime‚ Hydrogenics already has other fuel cell products in the marketplace – batteries for forklifts (which operate indoors and are therefore subject to emissions regulations)‚ back up AC systems for data server rooms (like those that APC purchased) and back–up DC systems‚ such as telecommunications relay towers for cellular phone companies.
“We’re evolving from a project–based business model to a product–based one‚” said Rivard. “We’ve invested in hiring people with the right skill sets to develop products and in securing agreements with key partners to distribute the products into well–targeted markets.”
At least 30 Hydrogenics employees are UofT engineering graduates – including Chief Technical Officer Joseph Cargnelli and Norman M. Seagram (Eng. Bus. 5T8)‚ Chair of its Board of Directors. “We have a strong history with‚ alignment and allegiance to UofT. This is a key source of pride for us‚” said Rivard.