Global Power Solutions Signs Non-Binding LOI to Evaluate Development of Modular Hydrogen-Powered Energy Project

Vancouver, BC, Canada, April 27, 2026 (GLOBE NEWSWIRE) -- Global Power Solutions Corp. (TSX Venture Exchange: PWER; Frankfurt Stock Exchanges: NJA) (“Global Power” or the “Company”) announces that it has entered into a non-binding Letter of Intent (“LOI”) with 2782404 AB LTD (“2782404”) to evaluate the potential development of a modular hydrogen-powered energy project.

The LOI establishes a framework under which the parties will explore the feasibility of deploying modular hydrogen-based power generation systems to supply electricity to operations associated with 2782404. The proposed project is intended to assess whether decentralized hydrogen-powered generation may provide a reliable and scalable power solution for certain industrial, commercial, remote, or grid-constrained applications.

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Under the terms of the LOI, the parties will undertake a technical, commercial, and regulatory feasibility review to evaluate the potential development of one or more modular facilities with a potential aggregate capacity of up to approximately 100 megawatts (MW).

The project, if advanced following feasibility review and definitive agreements, could be developed in phased stages, potentially beginning with an initial deployment to evaluate system integration and operational performance, followed by potential capacity expansion aligned with demand requirements.

As contemplated in the LOI, Global may establish project-level special purpose entities (SPEs) for the development, ownership, financing, and operation of any project facilities.

Peter Medved, Chief Executive Officer of Global Power Solutions, commented:

“This LOI represents an opportunity to evaluate a potential application of modular hydrogen-powered energy systems within a decentralized generation framework. The feasibility process will allow both parties to assess technical configuration, commercial structure, and regulatory considerations before determining whether to proceed toward definitive agreements.”

2782404 is expected to provide site access information, operational requirements, and anticipated power demand profiles to support the feasibility assessment, while Global is expected to lead the technical evaluation and project development planning.

The parties anticipate that the feasibility process will include engineering studies, site suitability assessments, preliminary financial modeling, and evaluation of hydrogen production, storage, and power generation configurations.

If the project proceeds beyond feasibility, the parties may negotiate a long-term power purchase agreement (PPA) under which electricity generated by the project could potentially be supplied to 2782404 under a defined commercial framework.

There can be no assurance that the feasibility work will result in the execution of definitive agreements or that the project will proceed.

The LOI is non-binding, except for customary provisions including confidentiality

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.

On behalf of the Board:
Global Power Solutions Corp.
"Peter Medved"
CEO