Daily News: November 7, 2016

EDC Provides New $9MM Term Loan to Hydrogenics

Hydrogenics, a manufacturer of hydrogen generation and hydrogen-based power modules, has entered into a credit agreement with Export Development Canada (EDC) for a five-year, $9 million term loan.

Funding under the loan is expected to be advanced on November 7, 2016. As consideration for providing the loan, EDC was granted 200,575 share purchase warrants. Each warrant is exercisable for one common share of Hydrogenics at an exercise price of $6.85 per common share. The warrants are transferable and expire on November 4, 2021.

“We are very pleased to announce this new, long-term credit facility,” said Daryl Wilson, president and CEO of Hydrogenics. “The facility allows us to invest in our business, providing funds for equipment to improve our manufacturing throughput as well as fund working capital during our expected expansion going forward. We appreciate the support given by EDC to Hydrogenics and our leading hydrogen-based applications.”

“Supporting clean technologies like those developed and manufactured by Hydrogenics is one of EDC’s key priorities,” said Dan Mancuso, vice president, International Financing, Small & Mid-Market at EDC.