Hydrogenics is a designer and manufacturer of hydrogen systems. It offers industrial hydrogen generators, energy storage and fuelling solutions, and fuel cell power systems. Hydrogenics' solutions are applied in electric vehicles, fueling stations, electrical power plants, UPS systems, and other sectors.

Employee Rating

3.3
TypeSubsidiary
Parent CompanyCummins
HQMississauga, CA
Founded1995
Websitehydrogenics.com
Cybersecurity ratingBMore
Hydrogenics was founded in 1995 and is headquartered in Mississauga, CA
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Key People/Management at Hydrogenics

Bernd Pitschak

Bernd Pitschak

Managing Director
Bart Van Ouytsel

Bart Van Ouytsel

Managing Director
Piet Berens

Piet Berens

Managing Director
Wido Westbroek

Wido Westbroek

VP Sales and Marketing
Ryan Sookhoo

Ryan Sookhoo

Director, Business Development
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Hydrogenics Office Locations

Hydrogenics has offices in Mississauga, Carlsbad, Oevel, Gladbeck and in 3 other locations
Mississauga, CA (HQ)
220 Admiral Blvd
Oevel, BE
Nijverheidsstraat 48c
Gladbeck, DE
Am Wiesenbusch 2
Moscow, RU
Nizhniy Mezhdunarodniy pereulok, 10 Building 1, first floor room 135
Carlsbad, CA, US
2870 Whiptail Loop W #106
Show all (7)

Hydrogenics Financials and Metrics

Summary Metrics

Founding Date

1995

Total Funding

$13.3 m

Investors

In total, Hydrogenics had raised $13.3 m. Hydrogenics is a subsidiary of Cummins

Hydrogenics Revenue

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View revenue for all periods
Hydrogenics's revenue was reported to be $33.9 m in FY, 2018 which is a 29.5% decrease from the previous period.
Annual
USDFY, 2016FY, 2017FY, 2018

Revenue

29.0m48.1m33.9m

Revenue growth, %

66%(29%)

Cost of goods sold

23.0m36.6m25.2m

Gross profit

6.0m11.4m8.7m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Revenue

8.8m7.5m12.2m8.1m7.6m7.7m8.1m10.5m

Cost of goods sold

6.2m7.2m9.3m4.9m5.5m6.2m4.2m9.1m

Gross profit

2.7m250.0k2.9m3.2m2.1m1.5m3.9m1.4m

Gross profit Margin, %

30%3%24%40%28%19%48%13%
Annual
USDFY, 2016FY, 2017FY, 2018

Cash

10.3m21.5m7.6m

Accounts Receivable

1.7m6.3m3.3m

Prepaid Expenses

918.0k978.0k2.0m

Inventories

17.2m15.2m17.2m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Cash

10.6m27.2m18.3m18.5m13.8m10.8m21.5m16.7m

Accounts Receivable

2.6m2.1m7.8m4.4m5.1m3.7m3.4m4.6m

Prepaid Expenses

759.0k1.1m1.4m1.3m1.2m1.8m2.0m2.0m

Inventories

16.6m17.8m18.3m18.5m18.5m19.1m20.7m18.9m
Annual
USDFY, 2016FY, 2017FY, 2018

Net Income

(9.9m)(11.1m)(13.3m)

Depreciation and Amortization

751.0k672.0k706.0k

Inventories

(3.3m)3.3m(2.5m)

Accounts Payable

(1.7m)1.8m(1.2m)
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Net Income

(2.3m)(8.0m)(10.0m)(2.0m)(6.8m)(10.2m)(2.6m)(7.4m)

Depreciation and Amortization

199.0k401.0k600.0k177.0k352.0k514.0k380.0k797.0k

Inventories

786.0k254.0k205.0k(3.3m)(3.7m)(4.3m)(3.7m)(1.8m)

Accounts Payable

2.3m4.4m2.1m(374.0k)(2.9m)(604.0k)98.0k247.0k
USDFY, 2016

Revenue/Employee

170.5k

Debt/Equity

1.5 x

Debt/Assets

0.3 x

Financial Leverage

4.7 x
Show all financial metrics

Hydrogenics Operating Metrics

FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019Q2, 2019

Backlog

$106.6 m$109.8 m$152.1 m$147.5 m$144.6 m$140.1 m$131.8 m$132.1 m$132.7 m$150 m$144.1 m

Backlog (Power Systems)

$85.8 m$81.4 m$123.8 m$120.5 m$124.7 m$122.8 m$111.3 m$111.2 m$112.1 m$110 m$108.1 m

Patent Applications

484945

Patents Issued

128147175

Hydrogenics Acquisitions / Subsidiaries

Company NameDateDeal Size
Stuart Energy SystemsJanuary 20, 2005
Greenlight InnovationJanuary 08, 2003$19 m
EnKAT GmbHJanuary 01, 2002

Hydrogenics Revenue Breakdown

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Hydrogenics revenue breakdown by business segment: 54.0% from OnSite Generation and 46.0% from Power Systems

Hydrogenics revenue breakdown by geographic segment: 10.0% from North America, 36.9% from Asia, 32.1% from European Union, 8.5% from Eastern Europe, 8.0% from South and Central America and 4.4% from Other

Hydrogenics Cybersecurity Score

Cybersecurity ratingPremium dataset

B

89/100

SecurityScorecard logo

Hydrogenics Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

Hydrogenics Online and Social Media Presence

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Hydrogenics News and Updates

Hydrogenics will be presenting at the all energy Australia conference

Our Business Development Director Alan Kneisz will be speaking on Innovations in the Deployment of Hydrogen and Fuel Cell Technologies at the All Energy Australia event from 1-2pm – Oct 24th Melbourne.

Cummins closes on its acquisition of Hydrogenics

Cummins Inc. (NYSE: CMI) today announced that it closed on the previously announced acquisition of fuel cell and hydrogen production technologies provider Hydrogenics Corporation. “We are thrilled to welcome the Hydrogenics employees to the Cummins family,” said Tom Linebarger, Chairman and CEO, Cum…

Hydrogenics corporation completes a sale transaction with Cummins inc.

Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (the “Company”) is pleased to announce that it completed today the previously-announced plan of arrangement pursuant to which Atlantis Acquisitionco Canada Corporation (the “Purchaser”), a subsidiary of Cummins Inc. (“Cummins”) acquired all of the out…

Hydrogenics corporation receives court approval for the proposed transaction with Cummins inc.

Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (the “Company” or “Hydrogenics”) announced today that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously-announced plan of arrangement pursuant to which Atlantis AcquisitionCo Canada Co…

Hydrogenics corporation shareholders approve transaction with Cummins inc.

Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (the “Company” or “Hydrogenics”) is pleased to announce that at the special meeting of its shareholders held today (the “Meeting”), shareholders voted in favour of a special resolution (the “Transaction Resolution”) approving the previously announced…

Hydrogenics Frequently Asked Questions

  • When was Hydrogenics founded?

    Hydrogenics was founded in 1995.

  • Who are Hydrogenics key executives?

    Hydrogenics's key executives are Bernd Pitschak, Bart Van Ouytsel and Piet Berens.

  • How many employees does Hydrogenics have?

    Hydrogenics has 141 employees.

  • What is Hydrogenics revenue?

    Latest Hydrogenics annual revenue is $33.9 m.

  • What is Hydrogenics revenue per employee?

    Latest Hydrogenics revenue per employee is $240.4 k.

  • Who are Hydrogenics competitors?

    Competitors of Hydrogenics include NovoCell, Nel Hydrogen and McPhy Energy.

  • Where is Hydrogenics headquarters?

    Hydrogenics headquarters is located at 220 Admiral Blvd, Mississauga.

  • Where are Hydrogenics offices?

    Hydrogenics has offices in Mississauga, Carlsbad, Oevel, Gladbeck and in 3 other locations.

  • How many offices does Hydrogenics have?

    Hydrogenics has 7 offices.