17:05:00 EDT Thu 11 Aug 2022
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Aether Catalyst Solutions Inc
Symbol ATHR
Shares Issued 41,746,712
Close 2022-02-28 C$ 0.23
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Aether completes first catalyst shipment to Fleetco

2022-02-28 12:30 ET - News Release

Mr. Paul Woodward reports

AETHER CATALYST SOLUTIONS, INC. SHIPS CATALYST FOR IN-VEHICLE TESTING WITH FLEETCO

Aether Catalyst Solutions Inc. has completed its first shipment of scaled-up catalyst to Fleetco for in-vehicle testing.

As per the Oct. 19, 2021, news release, 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 past five years.

Scale-up is a challenging prospect for any emerging technology. The Aether team examined its entire process and broke it down step by step to reoptimize for production of full-scale parts. Working with heavy-duty vehicles (HDV) offers space that typically would not exist in the converter with typical light-duty vehicles. This allowed Aether to make decisions about the catalyst composition that are intended to address its typical weaknesses.

The scheduled testing will give the company a baseline and a translation from lab to vehicle. Both are key components in a potential commercial solution that will assist both parties in defining the path forward. Next steps are to build understanding around areas that require improvement or redesign.

Taylor Procyk, chief operating officer of Aether, comments: "The team at Fleetco has been extremely supportive throughout the build of our evaluation catalyst. Achieving this scale-up was an intense process and I'm very proud of what our team has done. Looking forward, I'm optimistic about adapting the technology to these vehicles; their size is both a challenge and an advantage and I think the potential flexibility in design makes it much more likely that we find a solution."

Paul Woodward, chief executive officer of Aether, adds: "Taylor and his team are to be congratulated on this accomplishment; scale-up is one of the most difficult stages of any technology development, and the hurdles they've overcome are significant. We now look forward to getting our baseline results from Fleetco and iterating our way to a commercial catalyst."

About Aether Catalyst Solutions Inc.

Aether Catalyst Solutions, a clean-air tech company, is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst tech, while meeting, or exceeding, government emission standards. Aether is actively advancing its technology through rapid screening of new material combinations. To date, Aether's primary focus has been on catalyst development for the transportation and small motors industries -- both significant contributors to urban air pollution. Recently Aether formed a subsidiary company to explore other applications of its clean-air technology.

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