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2024

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02

ABOUND Energy and AZUL Energy Announce Strategic and Financial Agreement to Advance Air Cathode Technologies

Author:

ABOUND Energy


VANCOUVER, BC–  ABOUND Energy Inc. (“ABOUND” or the “Company”) (CSE:ABND) (OTC:ZAIRF) (FSE:0E9) and AZUL Energy Inc, (“AZUL”) are pleased to jointly announce a strategic collaboration where AZUL will engage the research capabilities and development resources of ABOUND, acting as a service provider. This collaboration will further the IP of both parties and develop additional sustainable energy solutions by combining ABOUND’s air cathode technology, ZaeroTex™, with AZUL’s innovative non-precious metal catalyst technology.

 

More specifically, the objective of this collaboration agreement is to create a non-precious metal catalyst-coated electrode material, offering a feasible substitute for conventional air cathodes utilizing precious metal catalysts, which are known for their higher cost and diminished durability.

 

Jason Birmingham, CEO of ABOUND,stated, “We are delighted to announce a significant milestone in ABOUND’s strategic journey, as we secure a service contract with AZUL. This accomplishment stands as a testament to our steadfast commitment to innovation and excellence, underscoring the successful implementation of our recently announced business strategy on January 31. Resources from both parties will drive innovation, accelerate research and development, and propel the advancement of our respective technologies. This collaboration also demonstrates our dedication to leveraging ABOUND’s intellectual property portfolio to support and expedite the advancement of other technologies.”

 

ABOUND will provide its expertise regarding ZaeroTex™, an innovative flexible material designed for effectively separating gas and liquid within the fuel cell stacks of Zaeras™. This technology plays a pivotal role in optimizing cathode performance, thus contributing significantly to the evolution of the Zaeras™ Energy Storage Technology.

 

“ABOUND looks forward to advancing our next-gen cathode technology AZUL’s innovation. We’re confident AZUL’s non-precious metal catalyst will help further reduce material costs for our air cathode. This collaboration will contribute to lowering the $/kWh cost of Zaeras™, already positioned competitively in the energy storage market,” stated Mr. Keith Morlock, COO of ABOUND.“By leveraging ABOUND’s strategic investments in our facilities, we have been able to successfully expand into Testing and Development services, capitalizing over a decade of proficiency in energy storage technology. This milestone reflects our proactive strategy, and as we propel the advancement of Zaeras™ LDES technology, it marks a pivotal moment for ABOUND.”

 

With a commitment to maximizing the potential of the ‘Air Battery’ using their AZUL catalyst technology, AZUL will bring its extensive knowledge and experience to drive advancements in catalyst and cathode technologies.

 

Both companies share a common vision of promoting clean energies and realizing a sustainable energy economy.Koju Ito, CEO of AZUL,stated, “This partnership not only expands our market footprint in energy storage technologies and increases our visibility in international markets, particularly in North America that is the largest LDES market but also underscores our commitment to making significant strides in the clean energy market".

 

The collaboration between ABOUND Energy and AZUL Energy is effective as of April 1, 2024 for 12-month.  Both companies are excited about the possibilities that this collaboration brings and look forward to pushing the boundaries of innovation in the pursuit of sustainable and clean energy solutions.

 

About AZUL Energy Inc.

 

Established in 2019, AZUL Energy is developing high-performancenon-precious metalcatalysts invented by Tohoku University for next-generation energy systems. Although precious metal catalysts such as platinum are used in hydrogen energy systems and are expected to reduce CO2emissions, they are costly and have significant resource constraints. AZUL Energy’s catalysts are lower cost and free of resource constraints, contributing to a more sustainable society

 

About ABOUND Energy Inc.

ABOUND specializes in developing scalable, environmentally friendly, long-lasting energy technology. Our patented Zaeras™ long-duration energy storage technology, leveraging zinc-air chemistry, guarantees the storage and on-demand delivery of electricity without the limitations or environmental risks associated with current market leaders.

 

About ABOUND’s Zaeras™ Technology

 

Zaeras™ is precision-engineered to meet future energy requirements, with a specific emphasis on simplifying long-duration energy storage. Harnessing the potential of its multi-patented Zaeras™ technology, ABOUND is poised to facilitate the seamless integration of green energy sources into the grid. This is achieved by minimizing curtailment, bridging the gap between supply and demand, and efficiently integrating green energy into the grid. ABOUND’s strategic initiatives encompass opportunities for peak demand reduction, leveraging time-of-use arbitrage, participating in value stacking programs, and entering the distributed long-duration energy storage sector. These endeavors are aligned with our central objective of increasing the integration and resiliency of green energy, while stabilizing the grid.

 

Distinguished by its inherent safety—free from fire or explosion hazards—Zaeras™ guarantees sustained capacity over an extensive lifecycle. Simultaneously, it showcases versatility by independently managing charge and discharge operations. Comparable to other Flow Battery technologies, scaling up the energy capacity of Zaeras™ is as simple as increasing the size of the fuel tank; a cost-effective solution, from kWh to MWh.  This is a welcome alternative to the fixed power-to-energy ratio constraints ingrained in traditional systems, such as Li-ion and Zinc Hybrid Batteries.

 

Source: ABOUND Energy

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