Schneider Power announces CEO

MISSISSAUGA, ONTARIO - Schneider Power Inc., Canada's Renewable Energy Company, announced that it has named Jonathan Lundy Chief Executive Officer (CEO).

Lundy succeeds Thomas Schneider, the visionary founder of the company, who will continue in the role of Vice-Chairman and President. The appointment is effective immediately and aligns with Schneider Power's growth planning process.

Mr. Lundy joins Schneider Power from Mississauga-based Hydrogenics Corporation, a TSX and NASDAQ listed alternative energy company, where he began as Vice President of Corporate Affairs and General Counsel, and eventually served as President, Power Systems.

During his tenure at Hydrogenics, Mr. Lundy's triumphs include the company's US $80 million initial public offering, its CDN $60 million follow-on offering, and its acquisitions of enKat GmbH, Greenlight Power and Stuart Energy. Mr Lundy oversaw Hydrogenics' fuel cell and electrolyser business and repositioned the market strategy of its fuel cell division which contributed to a doubling of divisional revenues with corresponding improvements in bottom-line results and operational efficiencies.

Prior to joining Hydrogenics, Mr. Lundy practiced corporate and securities law with Osler, Hoskin and Harcourt LLP and Heenan Blaike LLP. He holds a Bachelor of Arts and a Bachelor of Laws from the University of Western Ontario.

Lundy will focus his efforts on expansion of Schneider Power's North American renewable power market penetration and the continued growth of its operating subsidiaries. Mr. Schneider will delegate a great deal of his duties to Mr. Lundy, in order for him to explore and execute Schneider Power's long-term strategic vision in the renewable energy sector.

"I'd personally like to congratulate Jonathan and warmly welcome him to the Schneider team. We are delighted he has joined us and look forward to Jonathan employing his capital markets, operational and deal-making experience as we embark on our next major growth milestones. Jonathan's wealth of experience and strong leadership will ensure Schneider Power becomes a formidable force in the Canadian renewable energy market," said Thomas Schneider, Vice-Chairman of Schneider Power.