(via TheNewswire)

Toronto, Ontario – TheNewswire - November 17, 2025 – Hybrid Power Solutions Inc. (CSE: HPSS) (OTC: HPSIF) (FSE: E092) ("Hybrid" or the "Company") is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with CarboMat Inc. (“CarboMat”), a pioneer in carbon-based advanced materials. The non-binding MOU establishes a joint development partnership to engineer low-cost, sustainable anode materials for next-generation lithium-ion batteries specifically optimized for integration into Hybrid’s Terra microgrid systems.

Under the collaboration, CarboMat will leverage its proprietary battery anode material (BAM) technology to deliver high-performance, low-cost, and eco-friendly anodes that reduce reliance on mined graphite and lower production costs by up to 40% compared to conventional solutions. Hybrid will integrate these anodes into its scalable battery modules, enabling longer cycle life, faster charging, and enhanced energy density for off-grid and hybrid power applications in construction, mining, rail, and marine sectors.

This MOU with CarboMat is a game-changer for sustainable energy storage,” said Francois Byrne, CEO & Founder of Hybrid. “By combining CarboMat’s breakthrough carbon technology with our field-proven Terra platform, we’re creating a vertically integrated ecosystem that delivers greener, more affordable power solutions—driving massive interest from industry partners and investors alike.”

CarboMat CEO and Co-Founder Shabab Saad stated: “This MoU between CarboMat and Hybrid marks a pivotal step toward establishing a robust and resilient graphite supply chain here in Canada—one that is absolutely essential to support the rapid growth of Li-ion batteries powering Hybrid’s Terra battery packs. At CarboMat, we are demonstrating that low-cost, sustainable graphite derived from low-value industrial waste by-products can compete directly with today’s commercial graphite supply, more than 80% of which currently comes from China. Through this partnership, we envision not only meaningful gains in energy density and cycle life for Hybrid’s Terra systems, but also a substantial reduction in Scope 3 emissions as Hybrid’s power solutions begin displacing diesel in real-world field operations.”

This strategic collaboration sets the foundation for joint go-to-market pilots from Q2 through Q4 2026, with the first commercial Terra units featuring CarboMat’s graphite in Li-ion cells targeted for release in Q3–Q4 2027. Together, we are building the future of clean, secure, and high-performance energy systems in Canada.

About CarboMat Inc.

CarboMat is a Canadian advanced carbon materials company specializing in low-cost sustainable materials such as carbon fibers and battery-grade anode materials derived from low-value industrial by-products. Its patented platform enables low-cost, high-purity carbon structures specifically for batteries, electrodes, and lightweight composites,  . CarboMat Inc. so far has secured more than $5 million in non-dilutive grant funding from various provincial and federal funding institutions in Canada to support their current kg-scale pilot production facilities for carbon fibers and battery anode materials. These activities are aimed at advancing extensive R&D for quality improvement of CarboMat’s portfolio products, while accelerating customer-driven product development towards a minimum viable product and Canada’s first commercial demonstration unit.

CarboMat website: https://carbomatinc.com/

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:

E: invest@hybridps.ca

T: 866-549-2743

www.investhps.com

Dean Stuart, Investor Relations

E: dean@boardmarker.net

T: 403-617-7609

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.

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