<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
H POWER CORP.
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(NAME OF ISSUER)
COMMON STOCK
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(TITLE OF CLASS OF SECURITIES)
404 27A 108
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(CUSIP NUMBER)
GINETTE DEPELTEAU, SOFINOV SOCIETE FINANCIERE D'INNOVATION INC.
1981 MCGILL COLLEGE AVENUE, MONTREAL (QUEBEC), H3A 3C7 TEL.: (514) 847-5901
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
August 8, 2000
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(DATE OF EVENT WHICH REQUIRES FILING
OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1 (b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement / /. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
* The remainder of this cover page shall be filed out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (howerev, see the
Notes).
(Continued on following page(s))
CUSIP NO. 404 27A 108 13D Page 2 of 14 Pages
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SOFINOV SOCIETE FINANCIERE D'INNOVATION INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
MONTREAL (QUEBEC) CANADA
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7 SOLE VOTING POWER
NUMBER OF 6,458,335 COMMON SHARES
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARES VOTING POWER
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 6,458,335 COMMON SHARES
WITH --------------------------------------------------------
10 SHARES DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,458,335 COMMON SHARES
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES / /
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12%
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14 TYPE OF REPORTING PERSON*
CO
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</TABLE>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This statement constitutes an initial filing on Schedule 13D
by the SOFINOV Societe financiere d'innovation inc.
ITEM 1 - SECURITY AND ISSUER
This statement is made with respect to the Commons Shares (the
"Shares") of H Power Corporation., a New-Jersey corporation, the address of the
principal executive offices of which is 1373 Broad Street, Clifton, New-Jersey,
07013.
ITEM 2 - IDENTITY AND BACKGROUND
This Schedule 13D is filed jointly on behalf of CDPQ, a
corporation without share capital and an agent of the Crown in right of the
Province de Quebec, created by a special act of the Legislature of the Province
de Quebec, and Sofinov, a legal entity duly incorporated under part 1A of the
Companies ACT (Quebec) and a wholly-owned subsidiary of CDPQ, pursuant to Rule
13d-1(f)(1) under the Exchange Act.
The principal business address and the principal office
address of each of CDPQ and Sofinov is 1981, Avenue McGill College, Suite 1330,
Montreal, Quebec, H3A 3C7, Canada. The name, business address, citizenship and
present principal occupation of each director and executive officer of CDPQ and
Sofinov are set forth on Schedule I.
To the best knowledge of CDPQ and Sofinov, none of the persons
listed on Schedule I has, during the last five years, (i) been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
(ii) been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, United States federal or state securities
laws or finding any violation with respect to such laws.
ITEM 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
All the funds required to purchase the Initial Shares (as
defined below) were obtained from the working capital of Sofinov.
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ITEM 4 - PURPOSE OF TRANSACTION
Pursuant to a Purchase Agreement (the "Purchase Agreement")
dated August 8, 2000, Sofinov acquired beneficial ownership of 6,458,335 shares
of Common Stock in a private placement with an exercise price as set forth in
Exhibit 2 for an aggregate purchase price of CDN$21,826,208.66 (the "Purchase
Price").
On August 8, 2000, Sofinov bought 6,458,335 shares for
CDN$3.38 as set forth on Exhibit 2.
Except as specifically set forth in this Item 4, neither CDPQ
nor Sofinov has any plans or proposals which relate to or would result in any of
the actions or effects set forth in items (a) through (e) of Item 5 of Schedule
13D, although either of them may develop such plans or proposals.
CDPQ and Sofinov intend to review on a continuing basis their
investment in the Company. As of the date of this Schedule 13D, no determination
has been made by CDPQ or Sofinov to acquire additional shares of Common Stock or
dispose of any shares of Common Stock now held by them, although either of them
may decide to so acquire or dispose of shares of Common Stock. Any such
determination will depend on market conditions prevailing from time to time and
on other conditions which may be applicable depending on the nature of the
transaction or transactions involved.
ITEM 5 - INTEREST IN SECURITIES OF ISSUER
(a) Sofinov is the direct beneficial owner of 6,458,335 shares
of Common Stock (the "Sofinov Shares"). CDPQ may be deemed to be the indirect,
beneficial owner of the Sofinov Shares. The Sofinov Shares represent
approximately 12% of the 53,806,860 shares of Common Stock of the Company
outstanding on the date hereof, based upon information provided by the company.
(b) CDPQ has the power to vote and dispose of the Sofinov
Shares.
(c) Except as set forth in this Schedule 13D, none of CDPQ,
Sofinov or, to the best knowledge of CDPQ or Sofinov, any person named on
Schedule I hereto, owns any shares of
4
<PAGE>
the Company's Common Stock, and none has purchased or sold any shares of the
Company's Common Stock during the past 60 days.
(d) Except as set forth in this Schedule 13D, no person is
known by CDPQ or Sofinov to have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the shares of
Common Stock of the Company beneficially owned by CDPQ and Sofinov.
(e) Not applicable.
ITEM 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Except as set forth in this Schedule 13D, there are no
contracts, arrangements, understandings or relationships (legal or otherwise)
among the persons referred to in Item 2 of this Schedule 13D or between such
persons and any other person with respect to any of the securities of the
Company, including, but not limited to, any relating to the transfer or voting
of any of such securities, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or loss
or the giving or withholding of proxies.
ITEM 7 - MATERIAL TO BE FILED AS EXHIBITS
1. Joint Filing Agreement dated August 8, 2000 by and between Sofinov
and CDPQ.
2. Joint Filing Table of Purchase of H Power Corp.
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Date: August 8, 2000
SOFINOV SOCIETE FINANCIERE D'INNOVATION INC.
By: ________________________________________
Name: Ginette Depelteau
Title: Corporate Secretary
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC.
By: ________________________________________
Name: Ginette Depelteau
Title: General Secretary - Director
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SCHEDULE I
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF SOFINOV
<TABLE>
<CAPTION>
<S> <C> <C>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Line Boisvert Caisse de depot et placement du Quebec Director and
1981, Avenue McGill College Portfolio Manager
Montreal (Quebec) H3A 3C7
Jacques M. Brault Levesque Beaubien Geoffrion Inc. Senior
1155, Metcalfe, 5e etage Vice-President
Montreal (Quebec) H3B 4S9
Denis Dionne SOFINOV, Societe financiere d'innovation, inc. President
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Claude Lajeunesse Ryerson Polytechnic University President and Vice
350, Victoria Street Chancellor
Toronto (Ontario) H2M 2V1
Serge Martin Martin International President
500, Place d'Armes, Suite 2910
Montreal (Quebec) H2Y 2W2
Guy Morneau Regie des rentes du Quebec Chairman of the
2600 boul. Laurier, bureau 546 Board and President
Quebec (Quebec) G1V 4T3
Normand Provost Caisse de depot et placement du Quebec Vice-President
1981, Avenue McGill College Coordinator
Montreal (Quebec) H3A 3C7
</TABLE>
7
<PAGE>
SCHEDULE 1
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF SOFINOV
<TABLE>
<CAPTION>
<S> <C> <C>
OFFICERS BUSINESS ADDRESS PRINCIPAL OCCUPATION
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Denis Dionne SOFINOV, Societe financiere d'innovation, inc. President
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Pierre Pharand SOFINOV, Societe financiere d'innovation, inc. Vice-President
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Bertrand Lauzon Caisse de depot et placement du Quebec Vice-President,
1981, Avenue McGill College Finance and Control
Montreal (Quebec) H3A 3C7
Ginette Depelteau Caisse de depot et placement du Quebec Secretary
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
</TABLE>
8
<PAGE>
SCHEDULE 1
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF CDPQ
<TABLE>
<CAPTION>
<S> <C> <C>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, avenue McGill College
Montreal (Quebec) H3A 3C7
Guy Morneau Regie des rentes du Quebec Chairman of the Board
2600, boul. Laurier, bureau 546 and President
Quebec (Quebec) G1V 4T3
Jean-Claude Bachand Byers Casgrain Lawyer
1, Place Ville-Marie
Bureau 3900
Montreal (Quebec) H3B 4M7
Claude Beland La Confederation des Caisses populaires et President
d'economie Desjardins du Quebec
100, avenue des Commandeurs
Levis (Quebec) G6V 7N5
Luc Bessette Commission administrative des regimes President
de retraite et d'assurances
475, rue Saint-Amable
Quebec (Quebec) G1R 5X3
Rodrigue Biron Rodrigue Biron & Associes
305, chemin de la Place St-Laurent
St-Augustin-de-Desmaures
Cap-Rouge (Quebec) G1Y 3G9
Yves Filion Hydro-Quebec Deputy Chief
75, boul. Rene-Levesque Ouest Executive Officer
Montreal (Quebec) and Chief Financial
H2Z 1A4 Officer
Jean-Yves Gagnon Societe de l'assurance automobile du Quebec General Manager
333, boul. Jean-Lesage
Quebec (Quebec) G1K 8J6
</TABLE>
9
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<TABLE>
<CAPTION>
<S> <C> <C>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
Henri Masse Federation des travailleurs et travailleuses du President
Quebec
545, boul. Cremazie Est, 17e etage
Montreal (Quebec) H2M 2V1
Gilles Godbout Ministere des Finances Deputy Minister
12, rue St-Louis
Quebec (Quebec) G1R 5L3
Thomas O. Hecht Technologies IBEX Inc. Chairman Emeritus
5485, rue Pare
Montreal (Quebec) H4P 1P7
Gerald Larose Confederation des syndicats nationaux
1601, rue Delorimier
Montreal (Quebec) H2K 4M5
Nicole Trudeau Commission municipale du Quebec Vice-President
2, Complexe Desjardins
Suite 3100, East Tower
Montreal (Quebec) H5B 1B2
</TABLE>
10
<PAGE>
SCHEDULE 1
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF CDPQ
<TABLE>
<CAPTION>
<S> <C> <C>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, avenue McGill College
Montreal (Quebec) H3A 3C7
Fernand Perreault Same Senior Vice-president
Caisse Real Estate Group
and Mortgage Investments
Michel Nadeau Same Senior Vice-president
Investment Planning and
Strategic Affairs
Ginette Depelteau Same General Secretary -
Director
</TABLE>
11
<PAGE>
EXHIBIT INDEX
EXHIBIT
1. Joint Filing Agreement dated August 8, 2000 by and between Sofinov and CDPQ.
2. Joint Filing Table of Purchases of H Power Corp.
12
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EXHIBIT 1
AGREEMENT
The undersigned hereby agree that this statement on Schedule
13D with respect to beneficial ownership of shares of common stock of H Power
Corp. is filed jointly, on behalf of each of them.
Dated: August 8, 2000
SOFINOV, SOCIETE FINANCIERE D'INNOVATION, INC.
By: __________________________________________
Name: Denis Dionne
Title: President
By: __________________________________________
Name: Ginette Depelteau
Title: Corporate Secretary
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC.
By: __________________________________________
Name: Michel Nadeau
Title: Senior Vice-president
Investment Planning and Strategic Affairs
By: __________________________________________
Name: Ginette Depelteau
Title: General Secretary - Director
13
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EXHIBIT 2
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TABLE OF PURCHASES OF
H POWER CORP. SHARES
EFFECTED BY PRIVATE INVESTMENT
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<TABLE>
<CAPTION>
PURCHASES
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PRICE PER SHARE PRICE PER SHARE
DATE NUMBER OF SHARES IN CANADIAN DOLLARS IN U.S. DOLLARS
<S> <C> <C> <C>
AUGUST 8, 2000 6,458,335 3.38 2.30
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</TABLE>
14
