Aether Catalyst Announces Research and Development Funding
Burnaby, British Columbia--(Newsfile Corp. - August 24, 2020) - Aether Catalyst Solutions, Inc. (CSE: ATHR) (FSE: 2QZ) ("Aether" or the "Company"), a leading innovator of low-cost base metal catalysts for catalytic converters, is pleased to announce that it will receive advisory services and a non-repayable contribution of up to $250,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
The contribution will support a research and development project and enable Aether to significantly speed up the time to get its technology to market by allowing additional capital and human resources to be dedicated to the project. Through previous NRC IRAP projects, Aether has demonstrated its ability to leverage this support in making large technical advancements of its low-cost catalyst technology and expects a similar step forward which the company believes will yield technology validation by the automobile Original Equipment Manufacturers (OEMs).
"We are pleased to secure advisory and funding support from NRC IRAP," stated Greg James, Aether's Chief Operating Officer. "This funding is very timely as it will directly accelerate the refinement of Aether's technology based on the recent feedback given by two of the world's largest automobile OEMs."
ABOUT AETHER CATALYST SOLUTIONS, INC.:
Aether Catalyst Solutions, Inc. is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst, while meeting, or exceeding government emission standards. Aether is working to quickly advance its technology through rapid screening of new materials directed at enhancing end of life conversion levels after accelerated aging. While Aether's primary focus is automotive, other potential applications for this low-cost technology are also being explored. Aether is looking to replace precious metals in automotive catalysts for gasoline powered engines, a greater than $20 billion cost annually at today's prices. For more information, please visit our website: www.aethercatalyst.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aether Catalyst Solutions, Inc.
Tel: 604 690-3797
The Canadian Securities Exchange ("CSE") or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this management prepared news release.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Aether described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedar.com.
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