Hybrid Power Solutions Receives Grants From Ontario's Critical Industrial Technologies Initiative

TORONTO, Ontario — March 5, 2026 — Leads & Copy — Hybrid Power Solutions Inc. (CSE: HPSS) (OTC: HPSIF) (FSE: E092) has been awarded two grants from Ontario’s Critical Industrial Technologies (CIT) initiative to advance its next-generation portable power platform, HPS Air.

The CIT initiative is powered by the Ontario Centre of Innovation (OCI). Minister Fedeli announced the addition of Hybrid to a growing roster of 329+ CIT projects on March 2nd.

The dual investment will provide Hybrid Power Solutions with $20,000 through the CIT Talent Development Internship (TDI) Program to support the expansion of technical talent directly contributing to HPS Air development, and $100,000 through the CIT Development and Commercialization (DC) Program, plus exclusive access to theuWaterloo-RoboHub powered by RogersCIT Technology Development Site (Dev Site) to support engineering, prototyping, and commercialization work.

According to Francois Byrne, CEO of Hybrid Power Solutions, the backing accelerates progress on HPS Air and supports the technical team driving this next leap forward in portable energy.

The commitment underscores provincial support in advancing clean-energy technology and strengthening Ontario’s innovation ecosystem, with Hybrid leading the way.

Claudia Krywiak, President and CEO of the Ontario Centre of Innovation, said that Ontario’s innovation economy is strengthened when industry, government, and innovators work together. She added that strategic investments through the Critical Industrial Technologies (CIT) initiative accelerate technology adoption, reduce commercialization barriers, and position SMEs to compete global while delivering impactful solutions across key sectors such as mining.

The combined approvals signal growing recognition of Hybrid’s role in developing clean, reliable, and scalable power alternatives, reinforcing the Company’s commitment to innovation and local talent development.

Raed Kadri, Vice President of Strategic Initiatives, Business Development and Head of OVIN at OCI, said that as Ontario’s mining sector evolves, the integration of critical technologies is essential to improving productivity, safety, sustainability, and global competitiveness. Kadri added that through CIT, they are supporting companies as they move from innovation to commercialization, leading to stronger supply chains, the creation of good-paying jobs, and securing Ontario’s position as a global leader in industrial transformation.

The CIT Development and Commercialization program is delivered in collaboration with uWaterloo-RoboHub powered by Rogers as a CIT Technology Development Site (Dev Site). Through CIT, SMEs can access RoboHub’s facilities to test and validate their robotic products and automation services in facilities that mimic real-world environments, including the pre-commercial Rogers 5G network.

Hybrid, and other SMEs, leverage RoboHub’s technical leadership to source validation and feedback in real time, supporting Ontario companies in accelerated development and integration of critical technology products.

The Critical Industrial Technologies (CIT) is an initiative of the Government of Ontario, led by the Ontario Centre of Innovation (OCI), available to Ontario SMEs to accelerate the commercialization and adoption of critical technologies: 5G, AI, blockchain, cybersecurity, quantum computing, and robotics across key sectors including Advanced Manufacturing, Agri-Food, Construction, and Mining.

Hybrid will host a conference call on Thursday, March 5, 2026, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). Interested parties are invited to register HERE.

Pursuant to an amendment to the agreement with Sophic Capital Inc., the exercise price of the stock options previously granted to purchase up to 1,030,000 common shares has been adjusted from $0.04 per share to $0.05 per share. The options will vest quarterly in four tranches of 257,500 each and expire on the earlier of (i) 90 days after the termination of the engagement and (ii) February 18, 2031. The options remain governed by the provisions of Hybrid’s stock option plan and the policies of the Canadian Securities Exchange (CSE).

Hybrid Power Solutions Inc. is a Canadian clean energy innovator listed on the Canadian Securities Exchange under the symbol "HPSS." The Company specializes in developing portable power systems that eliminate the need for fossil fuels in off-grid and remote applications. With a focus on environmental responsibility and technological innovation, Hybrid Power Solutions is committed to leading the clean energy transition.

Source: Hybrid Power Solutions Inc.