Company Update (NASDAQ:HYGS): Hydrogenics Corporation (USA) Supplies PEM Electrolyzer to Kurion for Water Treatment Pilot Plant
Hydrogenics Corporation (USA) (NASDAQ:HYGS), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel cell power modules, today announced that it has completed the construction and shipment of a hydrogen electrolyzer to Kurion Inc. of Irvine, California to be used in a pilot plant for the cleanup of tritiated waste water.
Kurion is a world leader in the treatment of nuclear and hazardous waste for safe, secure and permanent disposal. Kurion has developed a technology to safely extract the radioactive isotope tritium from water and is building a pilot plant.
Hydrogenics is pleased to have its PEM electrolysis technology selected by Kurion and is looking forward to integrating the system into the pilot plant in the weeks ahead.
Daryl Wilson, Hydrogenics CEO, stated, “We are excited to provide our megawatt platform PEM electrolysis technology to Kurion for this critical application. Kurion is a company with world-leading technologies for the isolation and stabilization of radioactive waste, including water containing the radioactive isotope tritium. We look forward to demonstrating the viability of our electrolysis technology to Kurion as they help their customers clean up contaminated environments around the globe.” (Original Source)
Shares of Hydrogenics closed yesterday at $9.32. HYGS has a 1-year high of $19 and a 1-year low of $7.32. The stock’s 50-day moving average is $8.96 and its 200-day moving average is $9.85.
On the ratings front, Roth Capital analyst Matt Koranda maintained a Buy rating on HYGS, with a price target of $11, in a report issued on August 12. The current price target represents a potential upside of 18.0% from where the stock is currently trading. According to TipRanks.com, Koranda has a total average return of 4.6%, a 50.8% success rate, and is ranked #1089 out of 3795 analysts.
Hydrogenics Corp along with its subsidiaries, designs, develops and manufactures hydrogen generation and fuel cell products based on water electrolysis technology and proton exchange membrane technology.