Cipher Neutron Receives Purchase Order from Blade Hydrogen in Taiwan for its AEM Electrolysis Technology

Toronto, Ontario--(Newsfile Corp. - July 7, 2023) - Cipher Neutron Inc. ("Cipher Neutron", "CN" or the "Company") is pleased to announce that it has received an initial purchase order from Blade Hydrogen Technology Co. ("Blade Hydrogen") for a 10-Kilowatt AEM Green Hydrogen Electrolyser stack.

About Blade Hydrogen

Blade Hydrogen is a dedicated fuel cell manufacturing and development company in Taiwan and is a spin-off of the fuel cell development department of the Industrial Technology Research Institute ("ITRI") of Taiwan. In 2022, ITRI had released a technological development plan for the application of hydrogen energy in Taiwan, in keeping with the nation's aim of achieving net zero carbon emission by 2050.

Blade Hydrogen has advocated the importance of electrolysis to produce green hydrogen in Taiwan for many years. With its past abundant system integration experience in green hydrogen, Blade Hydrogen has indicated that it will continue to maintain a close co-operation with Cipher Neutron regarding Cipher Neutron's Green Hydrogen Electrolysers.

Taiwan Hydrogen Electrolyser Market

The Taiwanese government has prioritized hydrogen energy, especially green hydrogen which can help reduce carbon emissions emanating from industry. In the future, the application of green hydrogen will be rapidly promoted in Taiwan for use in thermal power plants, the steel industry, semiconductors, and green vehicle applications.

Follow up after Successful Implementation of 10 kW AEM Electrolyser Stack

Blade Hydrogen expects to place a follow up purchase order of Megawatt capacity after the successful implementation of an initial 10-Kilowatt AEM Green Hydrogen Electrolyser system supplied by Cipher Neutron. This initial 10-Kilowatt system will be used for a project in Taiwan for stationary power generation use.

Mark Lin, Vice President of Blade Hydrogen, stated, "Cipher Neutron's AEM technology fits perfectly with our ongoing projects across Taiwan. We are thrilled to launch PFAS-free and PGMs-free AEM electrolyser technology for a greener and sustainable future of Taiwan and for the rest of the world. Cipher Neutron's upcoming products, which include 100 kilowatt and 250 kilowatt AEM electrolysers, will be the game changers for the international Hydrogen Economy, and we are proud to be a part of this transition period."

Gurjant Randhawa, President and CEO of Cipher Neutron, stated, "Cipher Neutron is very pleased to collaborate with Blade Hydrogen on its ongoing green hydrogen projects. The team at Blade Hydrogen are the experts in green hydrogen and have successfully completed several projects worldwide. We commend Blade Hydrogen for its leadership in Green Hydrogen and fuel cell adoption."

About Cipher Neutron Inc.

Cipher Neutron is a rapidly growing disruptive technology company focused on AEM Electrolysers for Green Hydrogen production and Reversible Fuel Cells for power generation and Energy Storage Solutions. Cipher Neutron is a global group of scientists, engineers, technology developers, experts in hydrogen technology, investment bankers and people that have worked in hydrogen for decades. Cipher Neutron's innovative products, such as AEM Electrolysers and Reversible Fuel Cells have unique advantages over other Green Hydrogen production, power generation and energy storage solutions currently available in the global market. Please see: https://cipherneutron.com.

For more information, please contact:

Gurjant Randhawa, CEO & President
Cipher Neutron Inc.
101 - 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (647) 803-0002
grandhawa@cipherneutron.com

Nancy Massicotte
Vice-President Corporate Development
Cipher Neutron Inc.
+1 (604) 507-3377
nancy@cipherneutron.com

Forward-Looking Statements: This news release may contain forward-looking statements regarding future events, financial performance, or business strategies of Cipher Neutron Inc. These statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed or implied in possible forward-looking statements. Cipher Neutron Inc. undertakes no obligation to update or revise any such forward-looking statements, if any, whether as a result of new information, future events, or otherwise. Cipher Neutron Inc. reserves the right to modify, amend or update any information in this news release without prior notice. Cipher Neutron Inc. is not required and may not inform readers of any such changes or any updates to this news release to reflect subsequent developments.

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