MONTREAL, April 02, 2026 (GLOBE NEWSWIRE) — SmartD Technologies, a pioneer in Silicon Carbide (SiC)-based variable frequency drives, today announced the successful closing of its latest financing round totaling $15 million CAD. This round was co-led by existing strategic investor Hammond Power Solutions (HPS) and new institutional shareholder Desjardins Capital. All existing shareholders — including Hammond Power Solutions, Investissement Québec, Boreal, and SE Ventures — participated in the round, a clear signal of deep renewed confidence in SmartD’s trajectory.
The successful round provides the capital necessary to accelerate the company’s roadmap and meet growing demand from industrial operators seeking simpler, more efficient, and more reliable motor-drive systems.
Following a year of strong commercial momentum and growing adoption across sectors such as water infrastructure and data centers, SmartD is entering a new phase of growth, focused on scaling the deployment of its motor control technology across global industrial markets.
SmartD’s Clean Power VFD represents a paradigm shift in the industry. Built on a Silicon Carbide (SiC)–based architecture, it delivers clean sine-wave power to both the motor and the grid, eliminating the need for external harmonic and output filters, reducing energy losses, and extending the lifespan of industrial motors and electrical infrastructure.
SmartD’s Clean Power VFD is the first SiC-based drive delivering a true sine-wave output, enabling fully filterless drive installations. This architecture:
- reduces capital expenditures by eliminating external filters, specialized cabling, and oversized electrical infrastructure;
- reduces operating costs through improved system efficiency and lower harmonic losses;
- extends the lifespan of motors and electrical infrastructure, even in demanding environments;
- consistently meets IEEE 519 harmonic recommendations without additional mitigation equipment.
This new generation of motor control architecture is particularly well suited for operators managing critical infrastructure, remote industrial sites, or retrofit projects where simplicity, reliability, and performance are essential.
“We are excited to deepen our partnership with SmartD as they transition from innovation to scale,” said Adrian Thomas, CEO of Hammond Power Solutions. “SmartD’s ability to deliver clean sine-wave motor power without external filtering aligns with the growing demand for higher power quality, efficiency, and reliability in industrial applications.”
The addition of Desjardins Capital as a co-lead investor and new shareholder strengthens SmartD’s institutional backing as the company expands its market presence.
“SmartD is a strong example of a ‘technology from here’ with the potential to transform global industry standards,” said Stéphane Pilette, Investment Director at Desjardins Capital. “By improving the energy efficiency of industrial motor systems, SmartD is contributing directly to the energy transition.”
“With this new investment, we are pleased to support SmartD’s continued growth,” said Bicha Ngo, President and CEO of Investissement Québec. “SmartD is developing concrete solutions that improve energy efficiency across industries and public infrastructure, contributing to a more sustainable economy.”
“This round is fundamentally about trust,” said Simon Leblond, CEO and Co-founder of SmartD Technologies. “With the continued support of our investors, we are now focused on scaling our technology to meet growing demand from industrial and institutional clients.”
With this financing, SmartD will accelerate its product roadmap and expand commercial deployment across North America and international markets.
About SmartD Technologies
SmartD Technologies is a Canadian power electronics company specializing in high-efficiency variable frequency drives for motor control. By developing the first-ever SiC-based VFD that feeds motors with a real sine wave, SmartD enables filterless power drive systems that consistently meet IEEE519 harmonic recommendations. SmartD’s solutions are designed to be simpler, smaller, and smarter for the most demanding industrial applications.
About Hammond Power Solutions
Hammond Power Solutions Inc. (HPS) enables electrification through its broad range of dry-type transformers, power quality products, and related magnetics. HPS is a leader in the electrical distribution industry with manufacturing plants across North America and India.
About Desjardins Capital
Desjardins Capital partners with entrepreneurs to create long-term economic value and contribute to Quebec’s prosperity. With over 50 years of experience and $3B in assets under management, it supports the growth of businesses through a responsible and human-centered investment approach, leveraging the strength of the Desjardins network.
About Investissement Québec
Investissement Québec plays an active role in Quebec’s economic development by supporting innovation, entrepreneurship, and business growth. It works alongside companies to accelerate investment, increase exports, and build a more sustainable and competitive economy.
Contact: SmartD Technologies Press Office — [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/397f2ac0-3c0a-4464-be98-c6b32fbfa10f
