Mr. Francois Byrne reports

HYBRID POWER SOLUTIONS INC. ANNOUNCES CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

Hybrid Power Solutions Inc. has closed its previously announced non-brokered private placement.

The company issued 33.94 million units at a price of five cents per unit for gross proceeds of $1,697,000.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of eight cents for a period of two years from the closing date of the offering. The warrants are subject to an acceleration clause whereby, if the closing price of the common shares on the Canadian Securities Exchange (CSE) exceeds 15 cents for 20 consecutive trading days, the company may accelerate the expiry date of the warrants by issuing a news release, in which case the warrants will expire not less than 30 days after the date of such news release.

All securities issued under the offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. Completion of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the CSE.

In connection with the offering, the company paid aggregate finders' fees in the aggregate amount of $51,660 and issued 1,117,200 finders warrants to eligible finders in accordance with the policies of the CSE. Each finder warrant entitles the holder thereof to acquire one common shares at a price of five cents for a period of 24 months from the closing.

The net proceeds of the offering will be used for general working capital and corporate purposes.

Separately, the company announces the issuance of 1.05 million restricted share units (RSUs) to certain officers and senior management of the company pursuant to its omnibus equity incentive plan. These RSUs are intended to align management's interests with those of shareholders and support the company's continuing growth objectives.

About Hybrid Power Solutions Inc.

Hybrid Power Solutions 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.

We seek Safe Harbor.