01 Apr 2008
HydroGen Corporation announces financial results
The HydroGen Corporation has announced its financial results for the year ending December 2007.
According to a statement released yesterday, the company's net loss stands at $16.2 million, compared with a loss of $7.4 million for the previous year.
The company noted that its loss was primarily due to increased investment of $10.9 million in fuel cell technology research and development during 2007.
Commenting on the results, chief executive of the HydroGen Corporation John Freeh said: "2007 was a year of great progress at HydroGen Corporation. We believe we have made significant headway on the strategic, operational and technology fronts."
Mr Freeh added that the company's agreement with Samsung could lead to HydroGen becoming a "leading player" in the alternative energy market.
The HydroGen Corporation is an emerging competitor in the fuel cell energy market.
http://biz.yahoo.com/pz/080331/139084.html
© Adfero LtdSource: Adfero
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