Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership Acquires Common Shares of Hydrogenics Corporation

MISSISSAUGA, ONTARIO--(Marketwired - June 27, 2017) - Today, Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership ("Hejili") acquired 2,682,742 common shares ("Common Shares") in the capital of Hydrogenics Corporation (the "Corporation") pursuant to a subscription agreement (the "Subscription Agreement") dated April 27, 2017 between the Corporation and Hejili. The Common Shares were acquired pursuant to a non-brokered private placement for an aggregate purchase price of US$21,000,000, representing a price per Common Share of US$7.827811992. The Common Shares acquired by Hejili represent approximately 17.6% of the Corporation's current issued and outstanding Common Shares, after giving effect to the issuance of the Common Shares to Hejili.

The acquisition of Common Shares by Hejili was made for investment purposes. Hejili may, from time to time, subject to the terms and conditions of the Subscription Agreement, dispose of, or acquire, additional securities of the Corporation as circumstances warrant.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval (SEDAR) and may be obtained upon request from Bennett Jones LLP, 3400 One First Canadian Place, Toronto, ON M5X 1A4.