(via TheNewswire)
Homegrown clean-energy innovation backed by two programs from the Critical Industrial Technologies (CIT) initiative
TORONTO, Ontario – TheNewswire - March 5, 2026 – Hybrid Power Solutions Inc. (CSE: HPSS) (OTC: HPSIF) (FSE: E092) (“Hybrid” or the “Company”), an emerging leader in the delivery of fuel-free clean power solutions, is pleased to announce it has been awarded two grants from Ontario’s Critical Industrial Technologies (CIT) initiative powered by the Ontario Centre of Innovation (OCI) to advance its next-generation portable power platform, HPS Air. In a growing roster of 329+ CIT projects announced on March 2nd by Minister Fedeli, Ontario is investing in the adoption and commercialization of critical technologies by industry including 5G, AI, blockchain, cybersecurity, quantum, and robotics.
Resulting from the dual investment, Hybrid Power Solutions will receive:
“We’re excited and grateful to receive not one, but two program funding awards from the Critical Industrial Technologies initiative,” said Francois Byrne, CEO of Hybrid Power Solutions . “This backing accelerates our progress on HPS Air and supports the technical team driving this next leap forward in portable energy.”
This commitment underscores strong provincial support in advancing clean-energy technology and strengthening Ontario’s innovation ecosystem, with Hybrid leading the way.
“Ontario’s innovation economy is strengthened when industry, government, and innovators work together,” said Claudia Krywiak, President and CEO of the Ontario Centre of Innovation . “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.
“As Ontario’s mining sector evolves, the integration of critical technologies is essential to improving productivity, safety, sustainability, and global competitiveness,” said Raed Kadri, Vice President of Strategic Initiatives, Business Development and Head of OVIN at OCI . “Through CIT, we 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 cutting-edge facilities, enabling them 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.
Through the CIT initiative, leading Ontario companies, like Hybrid, are taking charge by tackling widespread challenges with critical technology integrated solutions. Together, Hybrid Power Solutions and the CIT initiative are building the future of industry in Ontario.
About the Critical Industrial Technologies Initiative:
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. Focusing on talent development, product innovation, and sector transformation projects, CIT is building the future of industry in Ontario. For more information about the Critical Industrial Technologies initiative and the Technology Development Sites, please visit OCI's CIT Program Page .
Conference Call
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 .
Option Grant
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).
About Hybrid Power Solutions
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.
On Behalf of the Company,
Francois Byrne, CEO and Director
For further information, inquiries, or media opportunities, please contact:
Hybrid Power Solutions
E: invest@hybridps.ca
T: 866-549-2743
www.investhps.com
Investor Relations
Dean Stuart
E: dean@boardmarker.net
T: 403-617-7609
Sophic Capital
Sean Peasgood
E: Sean@SophicCapital.com
T: 437-836-8862
Forward-Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by terminology such as "will," "expects," "anticipates," or variations of such words and phrases, or by statements that certain actions, events, or results "will" occur. Forward-looking statements are based on management’s estimates as of the date such statements are made and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Copyright (c) 2026 TheNewswire - All rights reserved.
© 2026 Canjex Publishing Ltd. All rights reserved.