Aether Catalyst Announces Youth Employment Funding to Further Research and Development for Small Motor Market
Burnaby, British Columbia--(Newsfile Corp. - September 2, 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 is receiving a non-repayable contribution of up to $20,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). This funding is made available through NRC IRAP's Youth Employment Program which aims to help young, highly skilled, Canadians gain valuable work experience in today's rapidly changing labour market.
Aether is extremely pleased to be awarded youth funding from NRC IRAP to hire on new expertise to help accelerate the company's plan to apply its emissions reduction technology to the small motor market. Aether is excited by the immediate opportunity in the small motor market as it views commercialization in that market occurring sooner, while providing a steppingstone to the automotive market. The catalyst technology is the same, however with the small motor application, the durability requirements are less stringent, and the low-temperature conversion during start-up is not an issue. This makes Aether confident that its technology can meaningfully tackle the significant greenhouse gas emissions and urban air pollution arising from small motors, such as lawn mowers and small generator sets, at a cost that will not be prohibitive for consumers.
"Receiving the NRC IRAP Youth Employment funding is very timely as it will allow us to put dedicated resources towards implementing Aether's low-cost catalyst for the sizeable small motor market, while not slowing down our technology development for the automotive industry," stated Greg James, Aether's Chief Operating Officer. "By combining the previously announced small motor market assessment activity, with this Youth Employment funding, Aether is laying a good foundation to aggressively commercialize our technology to reduce significant amounts of urban air pollution."
ABOUT AETHER CATALYST SOLUTIONS, INC.:
Aether Catalyst Solutions, Inc. is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalysts, 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:
Paul Woodward President
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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