Hybrid Power Solutions Secures $120,000 From Ontario's Critical Industrial Technologies Initiative to Accelerate Development of HPS Air

Executive Summary

• Hybrid Power Solutions Inc. received two Ontario Critical Industrial Technologies (CIT) grants totaling $120,000 to advance its portable power platform, HPS Air.
• The $20,000 CIT Talent Development Internship grant will fund expansion of technical talent; the $100,000 CIT Development and Commercialization grant provides funding plus access to uWaterloo‑RoboHub facilities for engineering, prototyping, and commercialization.
• An amendment to the existing Sophic Capital stock option agreement adjusts the exercise price to $0.05 per share and outlines new vesting and expiration terms.

Key Details

• Grant Awards:
• CIT Talent Development Internship (TDI) Program: $20,000 to support hiring/expansion of technical staff directly contributing to HPS Air development.

• CIT Development and Commercialization (DC) Program: $100,000 plus exclusive access to the uWaterloo‑RoboHub powered by Rogers CIT Technology Development Site for engineering, prototyping, and commercialization activities.

• Purpose & Impact:

• Funding accelerates progress on Hybrid’s next‑generation portable power platform, HPS Air, enhancing clean‑energy solutions for off‑grid applications.

• Access to RoboHub facilities enables testing/validation of robotic and automation components in a real‑world environment with 5G connectivity.

• Executive Comments:

• Francois Byrne, CEO, expressed gratitude for the dual awards and highlighted their role in speeding product development.

• Claudia Krywiak, President & CEO of Ontario Centre of Innovation, emphasized the partnership’s contribution to Ontario’s innovation ecosystem.

• Option Grant Amendment (Sophic Capital):

• Exercise price adjusted from $0.04 to $0.05 per share for options covering up to 1,030,000 common shares.
• Vesting: quarterly in four equal tranches of 257,500 shares each.

• Expiration: earlier of (i) 90 days after termination of the engagement or (ii) February 18, 2031.

• Conference Call:

• Hybrid will host a conference call on Thursday, March 5, 2026 at 4:30 p.m. ET (1:30 p.m. PT); registration link provided in release.

Notable Quotes

“We’re excited and grateful to receive not one, but two program funding awards from the Critical Industrial Technologies initiative,” – Francois Byrne, CEO, Hybrid Power Solutions.

“Strategic investments through the Critical Industrial Technologies (CIT) initiative accelerate technology adoption, reduce commercialization barriers, and position SMEs to compete globally while delivering impactful solutions across key sectors such as mining.” – Claudia Krywiak, President & CEO, Ontario Centre of Innovation.