DELTA-Q TECHNOLOGIES CLOSES

$17 MILLION IN FINANCING

Vancouver, BC May 12, 2010 – Delta-Q Technologies Corp. today announced that it has secured $17 million in funding from Tandem Expansion. Delta-Q is a leading technology company that supplies power conversion and power management products for electric drive vehicles with over 500,000 units in use on vehicles such as golf cars, aerial work platforms, industrial floor cleaning machines, and Neighbourhood Electric Vehicles.

The investment will be used to fund Delta-Q’s aggressive product development and overall corporate growth plans. Delta-Q’s management estimates that the market for its power conversion and power management products will grow to approximately $1 billion by 2015 due to continuing market adoption and new application growth in areas such as neighbourhood electric vehicles, recreation, power sports, industrial work vehicles and plug-in hybrid/pure battery electric vehicles.

With a strong and growing base business, Delta-Q believes that its proprietary technology, customer-focused product development strategy, established partnerships and proven execution will fuel dynamic expansion and growth into its targeted market segments. The company is already actively recruiting globally to fill new high calibre, high talent positions in B.C. in engineering, product and program management, operations, sales and marketing. With the new investment, Delta-Q expects to accelerate its recruiting efforts and scale significantly, creating a substantial number of new jobs in BC over the next two years.  Individuals interested in career opportunities at Delta-Q should visit
www.delta-q.com/about/careers.shtml

Ken Fielding, CEO of Delta-Q said, “This is an important milestone for Delta-Q. This capital will help fuel our growth plans in our existing electric vehicle markets, targeted industrial markets and automotive industries. We chose Tandem because we share the goal of building a great Canadian company with durable competitive advantage. We look forward to working with the Tandem team to build our business during a time of significant opportunity.”

“We are pleased to be making the first of several significant investments in Canadian home grown technology,” said Charles Sirois on behalf of Tandem Expansion. “Delta-Q is an ideal investment for our Fund. The company is a market leader with a proven track record, proprietary technology and a significant opportunity for international growth.”

About Delta-Q Technologies Corp.

Delta-Q Technologies, founded in 1999, develops and supplies power conversion solutions to vehicle manufacturers enabling the shift away from internal combustion engines to environmentally friendly electric drive systems.  Considered the technology benchmark in industrial AC-DC battery chargers and integrated DC-DC power converters, Delta-Q’s customers include some of the largest manufacturers of recreational, industrial and specialty electric drive vehicles in the world. Delta-Q is a rapidly growing, privately held company headquartered in Burnaby, BC. For more information, visit www.delta-q.com.

About Tandem Expansion

Tandem Expansion is a private investment firm focused on growth capital for high-potential Canadian technology companies. Delta-Q is the first investment from its $300 million Tandem Expansion Fund I, L.P. (“The Fund”). Tandem will consider investing in companies with the following key characteristics:

• Primarily technology based in the following sectors: Information Technology (Hardware, Software or Services), Clean Technology, Energy and Resource Technology, Advanced Materials, Technological Innovations in traditional industries and Life Sciences;
• Offer a product(s) or service(s) which is already in production and being used by customers;
• Seeking a minimum of $10 million in growth equity;
• Have principal operations or a head office in Canada at the time the initial portfolio investment is made.

For more information regarding Tandem, and to contact the Fund regarding investment opportunities, please visit www.tandemexpansion.com. 

Media Contact:    

Louise Kozier  
Longview Communications  
604-694-6033

Josh Pekarsky

Longview Communications

604-694-6030