Global Power Solutions Corp. Executes Definitive Agreement To Jointly Develop And Commercialize Modular Hydrogen-Based Power System

Vancouver, BC, Canada, March 02, 2026 (GLOBE NEWSWIRE) -- Global Power Solutions Corp. (TSX Venture Exchange: PWER; Berlin and Frankfurt Stock Exchanges: NJA) (“Global Power” or the “Company”) is pleased to announce that it has executed a definitive joint development and licence agreement (the “Definitive Agreement”) with Northern Hydrogen and Energy Ltd., with acknowledgment and consent from ModeOne Manpower Systems Corp. and MVP Systems (collectively, the “Licensors”), to jointly develop and commercialize modular hydrogen-based power systems.

Under the terms of the Definitive Agreement, Global Power will collaborate with the Licensors to advance a next-generation power platform utilizing on-site hydrogen production derived from water through established electrochemical processes. The platform is designed to be scalable from approximately 80 kilowatts to multi-megawatt and, over time, utility-scale deployments, subject to technical validation, regulatory approvals, and commercial viability.

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The Definitive Agreement establishes a structured framework for system development, pilot deployment, performance validation, and phased commercialization, targeting applications in data infrastructure, remote industrial operations, and grid-independent power markets.

Initial development efforts will focus on the construction and testing of demonstration units intended to validate system efficiency, reliability, and operational performance under real-world conditions. Successful validation is expected to support subsequent commercial roll-out and strategic partnerships.

“This Definitive Agreement is a defining step forward for Global Power Solutions,” said Haneef Esmail, Company Director and Chief Financial Officer. “It establishes a clear pathway from pilot systems to large-scale deployments and aligns our long-term strategy with growing demand for resilient, low-emission, and grid-independent power solutions.”

The Company believes that modular hydrogen-based systems, if successfully developed and deployed, have the potential to address increasing demand for decentralized, low-carbon power infrastructure across multiple sectors.

Further updates will be provided as development milestones are achieved.

About Global Power Solutions Corp.

Global Power Solutions Corp. is a company well known for its pioneering efforts in the manufacture of light gauge steel components for the construction industry and modular metal buildings. The business strategy of the Company is being expanded to the pursuit of other industrial opportunities, including the development and execution of renewable energy and other clean energy infrastructure projects.