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Vancouver, British Columbia--(Newsfile Corp. - June 6, 2024) - Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) ("Hybrid" or the "Company"), a Canadian manufacturer of industrial, fuel-free power solutions, is excited to announce a distribution partnership with Colony Hardware ("Colony") out of Orange, Connecticut.
Colony Hardware has 64 locations that generate total revenue of over $800 million USD, serving a large part of the United-States.
This strategic collaboration aims to expand the reach of Hybrid's innovative power products and drive substantial revenue growth.
Colony Hardware, known for providing tools, equipment, fasteners, supplies, safety products, as well as rental and repair services to commercial construction and industrial accounts, brings a unique opportunity to introduce Hybrid's proprietary power solutions directly to their clients.
The stocking dealership agreement encompasses both product sales and the inclusion of rental units, further broadening the accessibility of Hybrid's offerings.
"We are thrilled to partner with Colony Hardware and leverage their extensive network to bring our fuel-free power solutions to a wider audience," said Francois Byrne, CEO at Hybrid Power Solutions. "This partnership represents a significant step in our large-scale growth strategy and demonstrates our commitment to expanding our sales network."
The partnership includes a clause ensuring that no other fuel-free power packs are to be sold through Colony which are not already part of their existing lineup.
Preliminary meetings with Colony Hardware's end clients have yielded promising results, with most interactions resulting in quotes for Hybrid's products. The upcoming weeks will focus on training Colony Hardware staff to ensure seamless integration and effective promotion of Hybrid's power solutions.
Colony forecasts over $2 million USD in sales of Hybrid products for the last 7 months of 2024 and will be holding stock of the Batt Pack Energy, Batt Pack Pro and Batt Pack Jupiter and will have access to the full product lineup.
"Colony Hardware's direct-to-client sales approach aligns perfectly with our mission to provide reliable, sustainable power solutions to industries in need," added Byrne. "We anticipate substantial revenue growth through this key partnership and look forward to a successful collaboration."
Hybrid Power Solutions is dedicated to advancing fuel-free power technology and supporting the transition to clean energy across many industries. The partnership with Colony Hardware marks an important milestone in the company's journey to revolutionize access to power and energy storage solutions.