Mr. Davis is a Chartered Accountant who started his career with Ernst & Young and PricewaterhouseCoopers where he advised on numerous financing and corporate development initiatives. Since 1997, Mr. Davis has been the President of Saturn Capital Corporation, a merchant bank that advises, invests in and assumes senior management positions for high growth businesses. Prior to joining Hydrogenics, Mr. Davis was the Chief Financial Officer of a wireless data services company for four years.

"With the Stuart Energy acquisition now complete, Hydrogenics enters the next phase of its evolution as a leading global developer of clean energy solutions. It was logical to recruit Lawrence to oversee our growth given his deep operational and capital markets experience," said Pierre Rivard, Hydrogenics President and CEO. "Lawrence will bring a balanced leadership approach to our finance, accounting and investor relations functions. Lawrence's previous successes position him to understand and effectively deal with the pressures, challenges and changes of growth companies."

"Joining Hydrogenics was an easy decision for me," stated Lawrence E. Davis. "Hydrogenics is an acknowledged leader in the exciting alternative energy industry. The Company is extraordinarily well positioned -- it has the products, partners, market reach and financial strength to capture a significant share of a rapidly expanding market. I am looking forward to working with the Hydrogenics team and applying my knowledge and experience to help Hydrogenics meet its goal in both the near and long term."

As disclosed in the Company's press release last week, the Company's current Chief Financial Officer, Gary G. Brandt, will continue with the Company until March 31, 2005 in order to facilitate an orderly transition, including the completion of the audited consolidated financial statements for 2004.

About Hydrogenics

Hydrogenics Corporation (http://www.hydrogenics.com) is a leading global developer of clean energy solutions, advancing the Hydrogen Economy by commercializing hydrogen and fuel cell products. The company has a portfolio of products and capabilities serving the hydrogen and energy markets of today and tomorrow. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in North America, Europe and Asia.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Law of 1995. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including changes in the competitive environment adversely affecting the products, markets, revenues or margins of Hydrogenics' business. Readers should not place undue reliance on Hydrogenics' forward-looking statements. Investors are encouraged to review the section captioned "Risk Factors" in Hydrogenics' regulatory filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission for a more complete discussion of factors that could affect Hydrogenics' future performance. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. The forward-looking statements contained in this release are expressly qualified by this.