Hydrogenics has signed a Purchase and License Agreement for technology and fuel cells with Blue-G New Energy Science and Technology for buses in China.
The deal will see the company deliver 1,000 fuel cell units to Blue-G to be integrated into zero-emission electric buses and an engineering support component for an aggregate sum payable to the company of more than USD$50m.
Delivery of the fuel cells and the associated payments are expected to occur during the next two to three years. Incremental are licence royalties which are expected to generate revenues for the supplier across a ten-year period.
The agreement was signed in Beijing by Daryl Wilson, president and CEO of Hydrogenics and Ronald Lee, president and CEO of Blue-G.
“We are very pleased to be able to bring Hydrogenics’ unique and leading technology to our transit customers in China,” said Lee.
“The ease of implementation of Hydrogenics’ fuel cell systems has allowed Blue-G to rapidly advance in providing zero-emission powertrains to our customers.”