Hydrogenics Corporation
TSX : HYG
NASDAQ : HYGS

Hydrogenics Corporation

November 15, 2005 07:00 ET

Hydrogenics Targets End-User Markets with Next Generation HyPM'R' Product Offerings

MISSISSAUGA, ONTARIO--(CCNMatthews - Nov. 15, 2005) - Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS) today announced the release of its next generation HyPM® 500 Series Fuel Cell Power Modules, with or without integrated DC power options, and HyPM Fuel Cell Power Packs. Building on the success of Hydrogenics' earlier generations of HyPM power module products, this 500 Series offers new customer-driven standard features.

The highly versatile and compact HyPM 500 Series of fuel cell power modules is available in two standard configurations.

- The standard 'LP' model, available in power outputs of 8, 12, 16 and 65 kilowatts, is designed to be integrated into a wide range of fuel cell power mobility applications.

- The 'XR' model is designed as a rack-mountable configuration available in power outputs of 8, 12, and 16 kW, targeting a range of stationary power back-up power applications.

For end-use customers in need of integrated power conditioning, the new HyPM 500 Series offers products with specific voltage outputs of 24, 36, 48 and 72 volts. This range meets the typical voltage requirements of electric vehicles and DC backup power users.

"Our goal with this product release is to move closer to end-users, primarily in the backup power and light mobility markets," said Pierre Rivard, Hydrogenics President and Chief Executive Officer. "We must ensure, from the outset, that OEMS and end-users have a positive experience when integrating fuel cells into their future products. The HyPM 500 Series accomplishes this by offering a standardized fuel cell solution that is very close to 'plug and play'. At the same time as we spawn new potential markets with proven technology, we are also refining this common HyPM platform with the intent to transition it to volume manufacturing for today's viable target markets."

The design of the new HyPM Fuel Cell Power Packs incorporates Hydrogenics' proven success with fuel cell hybrid platforms, based both on ultracapacitors and batteries. Hydrogenics' cost-effective hybrid technology has proven itself in all aspects of performance, reliability and durability for rigorous real-time applications, for example in recent forklift deployments at General Motors of Canada and FedEX.

"With this expanded offering, Hydrogenics is sharing what we are best known for - the full operational system," said Mr. Rivard. "A fuel cell can only be the best fuel cell if it has the best operational system built around it. Better than anyone, we at Hydrogenics know how to use system knowledge to get the most out of a fuel cell in performance and efficiency. Our new standardized 500 series hybrid platforms hold great promise to accelerate fuel cell commercialization for many applications."

For more information on Hydrogenics new HyPM 500 Series product offerings, visit www.hydrogenics.com/power.

About Hydrogenics

Hydrogenics Corporation (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.

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