Mr. Paul Woodward reports
AETHER CATALYST SOLUTIONS, INC. ENTERS INTO NDA WITH LARGE US FLEET OPERATOR
Aether Catalyst Solutions Inc. has entered into a non-disclosure agreement with a large U.S. fleet operator (Fleetco) to begin the evaluation and development of Aether's catalyst for use in its fleet of over 150,000 vehicles.
Fleetco, with a market cap of more than $10-billion (U.S.), approached Aether due to increasingly significant losses from catalytic converter theft from its fleet vehicles. Fleetco suffers losses from both the cost of transporting inoperable vehicles and subsequently replacing expensive catalytic converters as well as having those vehicles out of commission. This is a growing problem for all fleet operators globally as the cost of palladium (the most expensive component of catalytic converters) has risen dramatically over the last five years.
Aether has chosen a catalyst formulation for benchmarking and will scale up that catalyst and ship it to Fleetco for testing at Fleetco's research facility in a vehicle representative of its fleet to begin the project.
Taylor Procyk, chief operating officer of Aether, commented: "Working with Fleetco presents Aether with an opportunity to test our technology in a real-world transportation application. Our catalyst technology has come a long way in the last few years and we're eager to take these next steps towards commercialization."
Paul Woodward, president of Aether, added: "We're tremendously excited about this opportunity -- this is a needs based scenario -- Fleetco is seeking to innovate to solve an expensive and rapidly growing problem with a cost in both dollars and operating inefficiency. Our catalyst is not only less expensive than the incumbent PGM [platinum group metal] catalyst, but it is also far less likely to be stolen. We are looking forward to begin the development of our non-PGM catalyst solution with Fleetco."
About Aether Catalyst Solutions Inc.
Aether Catalyst Solutions 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 has been automotive applications, the company is also developing catalysts to address small motors emissions -- a significant contributor to urban air pollution.
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