Hydrogenics draws from $9 million Export Development Canada facility

By Tali Rackner

Norfolk, Va., Nov. 8 – Hydrogenics Corp. drew funds under its previously announced $9 million loan facility with Export Development Canada, according to a press release.

Net proceeds will primarily be used for ongoing working capital requirements and to fund capital expenditures related to the company’s in-house manufacturing of fuel cell components.

Hydrogenics also announced that it fully settled its prior $7.5 million facility with a syndicate of lenders led by Cinnamon Investments Ltd.

Hydrogenics is a Mississauga, Ont.-based developer and provider of hydrogen generation and fuel cell products and services.

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