ZAIRF - ABOUND Energy and Novus Energy Announce Transformative Alliance and a Corresponding PO for a 15 MWh Zaeras(TM) Energy Storage System
(TheNewswire)
Richmond, BC / TheNewswire/ July 8, 2024 / ABOUND Energy Inc.(“ABOUND” or the “Company”) (CSE: ABND) (OTC PINK: ZAIRF)(FSE: 0E9) is thrilled to announce that Novus Earth Energy OperationsInc. has issued a purchase order for ABOUND's groundbreaking Zaeras™Long Duration Energy Storage (LDES) technology. This order marks thebeginning of a strategic collaboration aimed at enhancing food andenergy security across North America.
This purchase order signifies the launch of a dynamicalliance between Novus Earth and ABOUND, laying the groundwork for aseries of future projects that will leverage the state-of-the-artZaeras™ technology. Both companies are dedicated to fosteringsustainable energy solutions and enhancing grid reliability.
“We are thrilled to integrate ABOUND's Zaeras™technology into our Geothermal project near Hinton, Alberta"stated Mr. Jeff Messner, CEO of Novus Earth Energy Operations Inc.“This partnership is crucial for advancing our mission of providingclean and secure energy to the Alberta marketplace. We anticipate thiscollaboration evolving into numerous innovative projects that willredefine the energy storage landscape."
“Partnering with Novus Earth is a significantmilestone for us," said Keith Morlock, COO of ABOUND. "OurZaeras™ technology is uniquely designed to meet the demands oflarge-scale energy storage projects at a price point that is botheconomical and sustainable. We are eager to contribute to NovusEarth's vision of a greener and more reliable food and energylandscape."
“The Alberta energy and electricity market provides agreat opportunity for ABOUND to be the leader in long duration energystorage solutions,” remarked Mike Simpson, Alberta based member ofthe Board of Directors, “With its deregulated electricity system,this partnership is a signal that ABOUND will be moving frequently inAlberta to grow our products in a jurisdiction that makes thispossible.”
Project Timeline
The first of 3 Zaeras™ Long Duration Energy Storagesystems for Novus Earth, are expected to ship in Q4-2026, Q2-2027 andQ3-2027. This timeline is contingent upon onsite assessments, projectcoordination, and adherence to local regulatory requirements . ABOUND is dedicated to meticulously aligning allpreparatory activities with these considerations to guarantee aseamless delivery and installation process. Novus Earth and ABOUNDwill also work together to extract heat from the battery system toinclude in the Geothermal heat producing process.
The Novus Earth project is significant for ABOUND,adding this as it finishes its two current projects based in New York.The New York projects are essential milestones in ABOUND’s strategicplan and will serve as the foundation for the collaboration with NovusEarth.
Looking Ahead
This purchase order marks the beginning of an ambitiouscollaboration between Novus Earth and ABOUND. Plans are alreadyunderway for additional projects that will utilize the Zaeras™technology to provide enhanced energy storage solutions across variousregions. Both companies are committed to driving innovation andsetting new standards in the renewable energy and storagesectors.
This press release serves to announce the start of atransformative partnership between two innovative companies committedto advancing the future of sustainable energy. Stay tuned for updateson future projects and developments in this excitingcollaboration.
About ABOUND Energy Inc.
ABOUND specializes in developing scalable,environmentally friendly, long-lasting energy technology. Our patentedZaeras™ long-duration energy storage technology, leveraging zinc-airchemistry, guarantees the storage and on-demanddelivery of electricity without the limitations or environmental risksassociated with current market leaders.
About ABOUND’s Zaeras™Technology
Zaeras™ is precision-engineered to meet future energyrequirements, with a specific emphasis on simplifying long-durationenergy storage. Harnessing the potential of its multi-patentedZaeras™ technology, ABOUND is poised to facilitate the seamlessintegration of green energy sources into the grid. This is achieved byminimizing curtailment, bridging the gap between supply and demand,and efficiently integrating green energy into the grid. ABOUND'sstrategic initiatives encompass opportunities for peak demandreduction, leveraging time-of-use arbitrage, participating in valuestacking programs, and entering the distributed long-duration energystorage sector. These endeavors are aligned with our central objectiveof increasing the integration and resiliency of green energy, whilestabilizing the grid.
Distinguished by its inherent safety—free from fireor explosion hazards—Zaeras™ guarantees sustained capacity over anextensive lifecycle. Simultaneously, it showcases versatility byindependently managing charge and discharge operations. Comparable toother Flow Battery technologies, scaling up the energy capacity ofZaeras™ is as simple as increasing the size of the fuel tank; acost-effective solution, from kWh to MWh . This isa welcome alternative to the fixed power-to-energy ratio constraintsingrained in traditional systems, such as Li-ion and Zinc HybridBatteries.
To learn more about ABOUND’s technology, pleasevisit: https://Abound.Energy
Jason Birmingham, CEO
Email: Investors@Abound.Energy
Ph: +1 (672) 887-9688
About Novus Earth
At Novus Earth, we are in pursuit of sustainable andresponsible stewardship of the Earth's resources. Our first geothermalproject, the Latitude 53 project, is in the Obed region in YellowheadCounty, near Hinton, AB. Novus Earth will provide thermal energy inthe first stage of commercializing our well technology, and electricalproduction in the second stage. There is no end to the supply ofgeothermal energy. This renewable resource is completely replenishablebecause it is sourced from natural heat generated and stored in theEarth’s core. This incredibly vast amount of thermal energy providesNovus Earth significant opportunity for future development.
Through strategic partnerships with technology leaderslike ABOUND, Novus Earth aims to provide renewable energy to newareas. Our goals and core values reflect a drive for improvingsustainable energy endeavors for the benefit of businesses andcommunities alike.
To learn more about NovusEarth , please visit: https://novusearth.ca/
Jeff Messner, CEO
Phone: +1 (403) 605-5077
Email: info@novusearth.ca
Notice Regarding Forward LookingStatements
This news release may contain certain “forwardlooking statements.” Forward-looking statements involve known andunknown risks, uncertainties, assumptions, and other factors that maycause the actual results, performance, or achievements of the Companyto be materially different from any future results, performance orachievements expressed or implied by the forward-looking statements.Any forward-looking statement speaks only as of the date of this newsrelease and, except as may be required by applicable securities laws,the Company disclaims any intent or obligation toupdate any forward-looking statement, whether asa result o f new information , future events, or results or otherwise.
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