Hydrogenics closes US $21M financing with Hejili 合吉利股权投资

Hydrogenics Corporation (TSX: HYG; NASDAQ: HYGS), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel cell modules, has closed previously announced US $21 million private placement of 2,682,742 common shares of Hydrogenics to Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership.

Immediately following completion of the financing, Hejili holds 2,682,742 common shares representing approximately 17.6% of current issued and outstanding common shares of Hydrogenics.

GMP Securities Asia Limited acted as advisors to Hydrogenics in connection with the private placement. Hawkbridge Capital and Northeast Securities acted as advisors to Hejili. Torys LLP and Bennett Jones LLP acted as legal counsel Hydrogenics and Hejili respectively.

Based in Fuzhou, Fujian China, Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership (福州保税区合吉利股权投资) is a limited partnership founded in 2016. Hejili’s partners include Fujian Snowman Co., Ltd., Ningbo Meishan Bonded Zone Mingde Investment Partnership, Ningbo Meishan Bonded Zone Mingde Investment Partnership, and Snow-Hydro Industrial Investment Management Ltd.

photo credit: Hydrogenics

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.