HPS Adds Heavyweight Gervais Jacques to Board as Grid Demand Soars

GUELPH, Ontario – October 01, 2026 – The invisible networks that power our modern world are under unprecedented strain. As the transition to sustainable cities, autonomous mobility, and AI-driven infrastructure accelerates, the spotlight is rapidly shifting from the sleek end-products to the heavy, unglamorous equipment that makes them possible. At the heart of this "digital backbone" are transformers, power conversion systems, and distribution networks—hardware that is currently facing historic global backlogs.

Positioning itself to navigate this surging demand, Hammond Power Solutions Inc. (TSX: HPS.A), a leading manufacturer of dry-type transformers and power electronics, announced today the appointment of Gervais Jacques to its Board of Directors. The strategic addition expands the board from eight to nine members, bringing a seasoned industrial executive into the fold just as the company scales its international manufacturing footprint.

"We are pleased to welcome Gervais to the HPS Board. His extensive executive and governance experience, together with his leadership across several prominent Canadian industrial and advanced manufacturing businesses will be an asset to the Company," said Bill Hammond, Chair of the Board, in a statement released earlier today. "We look forward to leveraging his perspective and expertise as we continue to build on our momentum and position HPS for its next phase of growth."

For those observing the capital goods market, this is not merely a routine board appointment. It is a calculated alignment of heavy industrial experience with the complex realities of modern grid electrification.

An Industrial Heavyweight for a Scaling Grid

The electrification of everything—from commercial vehicle fleets to sprawling data centers—requires an immense physical build-out. HPS operates at the critical juncture of this build-out, supplying the power quality and distribution solutions necessary to keep these high-load systems stable. Meeting this moment requires massive capital expenditure, operational efficiency, and an intimate understanding of global supply chains.

Jacques brings a formidable track record in these exact arenas. With over thirty years of experience in the metals industry, much of it spent at Rio Tinto, he understands the sheer scale of global industrial operations. During his tenure as Managing Director of Atlantic Operations for Rio Tinto Aluminum, Jacques was responsible for leading more than 6,000 employees across five countries. His background in managing sprawling, capital-intensive operations provides HPS with a critical perspective as it seeks to optimize its own manufacturing plants across North America, Europe, and Asia.

Market observers note that the bottleneck in grid modernization is rarely capital; it is capacity. Manufacturers are racing to expand their production lines to meet the multi-year backlogs for transformers and power distribution equipment. Having a board member who has successfully navigated the logistical and operational hurdles of primary metal production at a global scale offers HPS a distinct advantage in executing its growth strategy without sacrificing operational efficiency.

Strategic Cross-Pollination: Materials Meet Infrastructure

Beyond his experience in heavy metals, Jacques offers rare crossover expertise in the highly specialized world of advanced materials. He currently serves as the Executive Chairman of the Board of 5N Plus Inc., a publicly traded specialty semiconductor and performance materials company, where he previously held the title of President and Chief Executive Officer.

This intersection of materials expertise and grid infrastructure is particularly vital. Power electronics—a key segment of HPS's portfolio—rely heavily on specialty semiconductors to manage and convert electrical power efficiently. As renewable energy sources like solar and wind are integrated into the grid, the demand for advanced power conversion equipment skyrockets.

During his time as CEO of 5N Plus, Jacques spearheaded a strategic shift from a product-centric model to a market-centric approach, prioritizing high-margin sectors and optimizing the company's portfolio. Under his leadership, the company achieved significant growth in areas like terrestrial renewable energy and space solar power. This experience in navigating the complex, highly technical supply chains of specialty materials provides HPS with a strategic edge.

Supply chain strategists emphasize that the next decade of grid expansion will be constrained by the availability of critical inputs, from specialized grain-oriented electrical steel to the semiconductor components used in smart grid applications. Jacques's dual background in both the macro-level production of aluminum (a key material in transformer manufacturing) and the micro-level production of semiconductor materials positions him as a unique asset in anticipating and mitigating supply chain disruptions.

Navigating the Supply Chain of the Digital Backbone

The narrative of the "smart city" often focuses on the software: the artificial intelligence managing traffic flows, the 5G networks connecting autonomous vehicles, and the predictive algorithms optimizing energy use. But the reality is that this digital intelligence is entirely dependent on a robust, physical electrical foundation. If the transformers fail, or if the power conversion systems cannot handle the load of a new AI data center, the smart city grinds to a halt.

This is the reality that HPS is capitalizing on. The company's dry-type transformers and power quality solutions are the unsung heroes of the digital backbone, ensuring that clean, reliable power reaches the critical infrastructure that needs it. However, capitalizing on this secular growth trend requires meticulous strategic planning.

The expansion of the HPS board to include Jacques reflects a proactive approach to governance in an era of rapid industrial transformation. A comprehensive director identification and nomination process led to this appointment, indicating that the board recognized a specific need for his blend of skills. As HPS continues to invest in its manufacturing capacity and expand its global reach, the board will need to provide oversight on complex decisions regarding capital allocation, international labor markets, and supply chain resilience.

The Road Ahead for International Manufacturing

As the world races to meet aggressive decarbonization targets, the pressure on electrical equipment manufacturers will only intensify. The grid of the future must be more decentralized, more resilient, and capable of handling vastly higher loads than the grid of the past.

For Hammond Power Solutions, the path forward involves not just building more products, but building them smarter and faster across a global footprint. The company's presence in North America, Europe, and Asia positions it well to serve localized demand, but it also exposes the company to the complexities of international trade, varying regulatory environments, and regional supply chain nuances.

Jacques's experience as Chairman of the International Aluminum Institute and his leadership roles spanning multiple continents provide him with a deep understanding of these international dynamics. His ability to navigate complex global markets and drive business transformation will be highly relevant as HPS seeks to solidify its position as a premier enabler of electrification.

Ultimately, the appointment of Gervais Jacques signals that Hammond Power Solutions is not just reacting to the current boom in electrical equipment demand, but is actively structuring its leadership to sustain long-term growth. By bringing an executive with deep roots in both the foundational materials and the advanced semiconductors that power the modern grid, HPS is reinforcing the strategic oversight required to build the infrastructure of tomorrow.