Hybrid Power Solutions Announces Distribution Partnership with Colony Hardware
Hybrid Power Solutions (CSE: HPSS, OTCQB: HPSIF, FSE: E092) has announced a distribution partnership with Colony Hardware, a leading supplier to the commercial construction and industrial sectors. Colony Hardware, with 64 locations and annual revenue of over $800 million USD, will stock and rent Hybrid's fuel-free power products, aiming to generate $2 million USD in sales for the last 7 months of 2024. This agreement includes exclusive rights to Hybrid's products and aligns with Hybrid's growth strategy to expand its sales network and promote sustainable power solutions.
- Partnership with Colony Hardware, which has 64 locations and generates over $800 million USD annually.
- Exclusive rights for Hybrid’s fuel-free power packs ensure no direct competition within Colony’s network.
- Forecasted $2 million USD in sales from Hybrid products for the last 7 months of 2024.
- Preliminary client meetings have led to promising quotes for Hybrid’s products.
- Collaboration aims to expand the reach of Hybrid's innovative power solutions.
- Training for Colony Hardware staff to ensure seamless product integration.
- Broadened accessibility through product sales and rental units.
- The partnership's success is contingent on effective training and integration with Colony Hardware's sales team.
- No immediate evidence of actual sales figures or revenue realized yet; projections remain speculative.
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
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
"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.
For further information, inquiries, or media opportunities, please contact:
On behalf of the Company
Francois Byrne CEO and Director
invest@hybridps.ca
1-(866)-549-2743
www.investhps.com
About Hybrid Power Solutions Inc.
Hybrid Power Solutions Inc. is a Canadian clean energy company listed on the Canadian Securities Exchange under the symbol "HPSS". Hybrid specializes in the development of sustainable energy solutions, offering products that redefine how industries approach access to power and energy storage. With a focus on innovation and environmental responsibility, HPS continues to lead the way in providing scalable, cost effective power solutions.
Forward-looking information
Forward-Looking Statements Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "expects", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211857
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