VANCOUVER, BC, June 07, 2024 / ABOUND Energy Inc. (“ABOUND” or the “Company”) (CSE: ABND) (OTC PINK: ZAIRF) (FSE: 0E9) is thrilled to announce a key milestone in the advancement of its Zaeras™ energy storage technology. After more than 8 years of dedicated development, the Zaero Tex™ (air cathode) has officially transitioned from research and development to commercial viability.
This incredible achievement allows ABOUND to consolidate our future cathode development within our Richmond facility. By bringing all corporate offices under one roof, the Company expects significant cost savings of over half a million dollars annually. Moreover, the close proximity between teams is poised to foster greater collaboration and progress across departments, increasing operational efficiency and propelling Zaeras™ toward new heights of innovation.
“We take immense pride in this achievement and eagerly anticipate witnessing the success and influence of Zaeras™ in shaping the future of Long Duration Energy Storage. As we pave the path in clean technology and energy storage innovation, I am pleased to announce that Mr. Robert Schwetzke has been appointed to ABOUND’s Board of Directors. Based in Dubai, Mr. Schwetzke previously served on our advisory committee, where he played an instrumental role in introducing us to strategic partners. In his new capacity as a member of the Board of Directors, I look forward to his continued efforts in expanding ABOUND’s presence in the region.” said Jason Birmingham, CEO of ABOUND.
Mr. Robert Schwetzke has over two decades of multifaceted experience in engineering, project management, and business administration spanning various sectors including Mining, Ports & Terminals, Construction, and Technology development. Demonstrating a proven history of successfully overseeing intricate projects from conception to fruition and adeptness in international supply-chain management, Mr. Schwetzke, currently based in Dubai, offers a strategic viewpoint to ABOUND Energy’s Board of Directors, particularly from the perspective of the Middle Eastern market and opportunities. His expertise in mechanical and structural design, combined with entrepreneurial flair, will play a pivotal role in fostering innovation and driving sustainable expansion. Mr. Schwetzke’s approach to leadership and collaborative nature harmonize seamlessly with ABOUND’s mission, making him an indispensable asset to the team.
“I am appreciative of the opportunity extended by the Board of Directors, to join their esteemed ranks and collaborate with the entire ABOUND team. Joining at this significant moment for ABOUND is genuinely exciting, and I eagerly look forward to working with such a professional and talented group,” expressed Mr. Robert Schwetzke.
ABOUND also welcomes Mr. Rob Krell to ABOUND’s Advisory Board. With his extensive background in project management and construction, including notable roles with Teck Resources and Technical Resource Management Inc., Mr. Krell brings invaluable expertise to ABOUND’s team. As the Company prepares to enter its next stage of development, involving site assessments, project coordination, and adherence to local regulatory requirements, Mr. Krell’s insights will be instrumental. ABOUND looks forward to leveraging his experience and guidance as it navigates this exciting phase of growth in the energy sector.
The Board of Directors has also appointed Mr. Swapan Kakumanu, ABOUND’s current CFO, as Corporate Secretary, succeeding Christine Pankiw in this role. We extend our gratitude to Christine for her previous service.
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.
To learn more about ABOUND’s technology, please visit: https://Abound.Energy
For more information please contact:
Jason Birmingham, CEO
Email: Investors@Abound.Energy
Ph: +1 (672) 887-9688
Notice Regarding Forward Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.
