21:10:59 EDT Wed 30 Sep 2020
Aether Catalyst Solutions Inc
Symbol ATHR
Shares Issued 41,746,712
Close 2020-08-28 C$ 0.24
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Aether Catalyst receives $20,000 in NRC funding

2020-09-02 15:12 ET - News Release

Mr. Paul Woodward reports

AETHER CATALYST ANNOUNCES YOUTH EMPLOYMENT FUNDING TO FURTHER RESEARCH AND DEVELOPMENT FOR SMALL MOTOR MARKET

Aether Catalyst Solutions Inc. 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 stepping stone 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

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