Last deal

$4.01M
Local Amount - EUR 3.5M

Amount

Grant

Stage

01.01.2019

Date

3

all rounds

$62.72M

Total amount

date founded

Financing round

General

About Company
Hydrogenics is a leading company that designs, manufactures and installs hydrogen generation and fuel cell products.

Industry

Sector :

Subsector :

Keywords :

founded date

01.01.1996

Number of employees

Company Type

For Profit

Last funding type

Grant

IPO status

Private

Description

With over 70 years of experience, Hydrogenics, a Cummins company, specializes in providing hydrogen systems for various applications. They offer hydrogen generators for industrial processes and fueling stations, fuel cells for electric vehicles like transit buses and commercial fleets, and fuel cell installations for electrical power plants and UPS systems. Additionally, they provide hydrogen storage and power systems to optimize renewable energy sources such as wind, solar, and hydro. Headquartered in Mississauga, Canada, Hydrogenics operates globally with corporate offices and installations in multiple countries.
Contacts

Contact Email

Phone number

Social url

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M&A Details
1

Acquired by

Cummins Engine Company

announced date

09.09.2019

Financials

Funding Rounds
8
3

Number of Funding Rounds

$62.72M

Money Raised

Their latest funding was raised on 01.01.2019. Their latest investor Sustainable Development Technology Canada. Their latest round Grant

Date 
Funding Round 
Investors 
Money Raised 
Lead 
01.01.2019
1
$4.01M
Local Amount - EUR 3.5M
21.12.2018
$20.52M
01.08.2018
1
$58.31K
Local Amount - EUR 50K
Co-Investors
Investors
4
0

Number of lead investors

4

Number of investors

Sustainable Development Technology Canada

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General Industrials

Subsector

Diversified Industrials

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Financial Services, Venture Capital, Finance

Location

Ottawa, ON, Canada

count Of Investments

274

count Of Exists

8
California Energy Commission

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Sector

Alternative Energy

Subsector

Renewable Energy Equipment

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Acquisitions
2
Acquiree Name 
Date 
Price 
Acquisition Name 

Stuart Energy Systems acquired by Hydrogenics

acquirer

Hydrogenics
Hydrogenics

date

20.01.2005

type

Acquisition

Stuart Energy Systems

Stuart Energy Systems Corporation develops and supplies integrated hydrogen infrastructure solutions in Canada.

Sector

Alternative Energy

Subsector

Alternative Fuels

Keywords

Energy, Manufacturing, Oil and Gas

Location

Mississauga, ON, Canada
Greenlight Innovation acquired by Hydrogenics

Greenlight Innovation acquired by Hydrogenics

acquirer

Hydrogenics
Hydrogenics

date

08.01.2003

type

Acquisition

price

$19M
Greenlight Innovation

Greenlight Innovation

Greenlight designs and supplies testing and diagnostic equipment to the fuel cell industry.

Sector

Alternative Energy

Subsector

Alternative Fuels

Location

Burnaby, BC, Canada

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1

total raised

$1.1M

People

Founders
1
Joseph Cargnelli
Joseph Cargnelli

Joseph Cargnelli

Joseph Cargnelli is one of our company's founders and has served as a Hydrogenics Director since January 1996. He became Vice President, Technology in July 2000. Joe is known for his hands-on approach to engineering and his dedication to finding efficient and effective engineering solutions. Previously, Joe worked for a year (1992-93) as a Research Engineer with the Laboratory of Advanced Concepts in Energy Conversion Inc., a laboratory engaged in the research, development and demonstration of alkaline fuel cells and hydrogen storage methods. He has his Master's degree in Applied Science, Mechanical Engineering from the University of Toronto, where he also received his Bachelor's degree in the same field. "Coming from an engineering research background, it's very satisfying to see how the potential of hydrogen power is now making headway in practical applications such as lift trucks, UPS systems and solar and wind power installations. This is a new era, and Hydrogenics is in a great position to help make it happen."

current job

Hydrogenics
Hydrogenics

organization founded

1

Joseph Cargnelli

Employee Profiles
28

Amanda Hall

Human resources manager

Kyle Ryan

Project engineering specialist

Nader Zaag

Senior engineering manager

Marc Beisheim

Marc Beisheim

Chief Financial Officer

Ann Kempen

Human resources -manager

Joseph Cargnelli

Joseph Cargnelli

Founder and Chief Technology Officer

Daryl Wilson

Daryl Wilson

Chief Executive Officer

Marcoen Stoop

Marcoen Stoop

Sales Director of Asia Pacific

Activity

Recent News
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