ZAIRF - ABOUND Energy Debuts New Corporate Identity and Ticker Symbol: Culminating Strategic Management Transition and Future Growth Initiatives
(TheNewswire)
VANCOUVER, BC – TheNewswire - January 31, 2024 /ABOUND Energy Inc. (“ ABOUND ” or the “ Company ”)(CSE:ABND) (OTC:ZAIRF) (FSE:0E9) is proud toannounce, in a decisive move signaling a new era, its rebranding toABOUND. This change is not merely cosmetic; it represents a strategicshift in corporate management, underlining a fresh vision and acomprehensive go-forward plan.
As of the opening of trading on January 31, 2024, theCompany has officially changed its name to “Abound Energy Inc.”The change of name was accepted by the Canadian Securities Exchange(“CSE”) and approved by resolution of the Company’s Board ofDirectors. The Company’s shares have commenced trading on the CSEunder the new name, as of the opening of trading on January 31, 2024,under the trading symbol “ABND”.
The decision to rebrand comes as part of management’scommitment to chart a new course for the company. ABOUND will usher ina transformative phase, guided by a dynamic leadership team with thepurpose of realizing the company’s vision to provide a low-cost,long-duration energy storage solution to enable global energysustainability. This objective is achievable by harnessing theabundance of zinc metal and air, utilizing the Zaeras™ Technology topave the way for abundant and sustainable energy. This change furtherreflects our dedication to innovation, growth, and the pursuit ofexcellence.
1. Corporate Shift : The rebranding toABOUND represents more than just a change in name; it signifies theimplementation of a comprehensive forward-looking plan that maps out apath for sustained growth and success. This plan encompasses a revisedfocus on diversification, an expansion of market presence, and acommitment to realizing unparalleled value to stakeholders.
A key aspect of this transformation is the shift from abuild and sell model for Zaeras™ to a profit-sharing model, whereABOUND will enter into joint ventures with energy providers whoregularly overproduce and, as a result, sell excess power at asignificant reduction or even pay others to take it. ABOUND will offerits Zaeras™ technology to these providers, enabling them to sellexcess power during peak usage times. In return, ABOUND will receivethe largest percentage of income as part of the joint venture. OnceABOUND achieves a return on investment, the revenue split willreverse, with the provider receiving the larger percentage of income.This strategic approach aims to create a mutually beneficialpartnership while optimizing ongoing revenue streams for all involvedparties.
In another substantial shift, ABOUND is transitioningto a development model that is centered around partnerships, throughexternal collaboration. This transformation will be strengthened bythe introduction of ABOUND's new "Testing and DevelopmentServices." Beyond the goal of generating revenue to offsetoverhead costs, this innovative business model is expected to driveand enhance the development of our Zaeras™ LDES technology. It seeksto leverage testing and development capabilities at both our R&Dand Cathode development facility, as well as our engineering facility,fostering innovation and efficiency through collaborative efforts withexternal experts across various developmental stages.
2. Management Revitalization : ABOUND is set tobenefit from a revamped leadership structure, bringing in seasonedprofessionals with a proven track record in steering companies towardsuccess. The new team is committed to driving ABOUND to new heights ofachievement.
The new leadership team has demonstrated resilience,organizational prowess, and efficiency in steering the company out ofan unprecedented financial downturn. Their successful navigationincluded a strategic refocusing of corporate efforts, achieved withnotable effectiveness despite limited resources.
Directors of ABOUND Energy Inc. :
Mr. Jason Birmingham, Dr. Simon Fan, Mr. Keith Morlockand Mr. Scott Larson.
Directors of ABOUND’s wholly owned subsidiary, Zinc8Energy Solutions USA Inc. :
Mr. Doug MacDonald, Mr. Robert Parker and Mr. JasonBirmingham
3. Core Competence : Under the guidanceof our new leadership team, ABOUND is firmly dedicated to excellencethrough a proactive engagement in a strategic initiative to reacquireand nurture top-tier talent. We deeply recognize that the success ofour endeavors is intricately linked to the unparalleled expertise andunwavering dedication of our team members, many of whom have playedpivotal roles in advancing the Zaeras™ LDES technology over the pastdecade.
To foster a corporate environment that is synonymouswith innovation and collaboration, we are actively shaping a culturethat attracts and retains the industry's best and brightestprofessionals. This deliberate effort underscores our dedication tomaintaining a competitive edge through the acquisition and cultivationof exceptional talent.
4. Testing and DevelopmentServices : Capitalizing on multimillion-dollar investments directedtowards the establishment and expansion of our Engineering andR&D/Production facilities, ABOUND is strategically advancing intothe realm of Testing and Development services. This strategic move isstrengthened by our extensive proficiency in fluid mechanics,computational modeling, mechanical design, and material andelectrochemical characterization. This expansion serves as a resolutecommitment to not only maintain but also enhance our standing as apioneering force in technological innovation, in the renewable energysector. By harnessing our comprehensive expertise, we aim to offervaluable solutions that contribute to the advancement of a Globaltransition to Clean Energy.
By expanding our capabilities into Testing andDevelopment services, we aim to provide comprehensive solutions thatintegrate our accumulated knowledge and leverage our specialized anddistinctive testing infrastructure. This strategic initiative isdriven by a dedication to exceed industry standards and set newbenchmarks in technological advancements. This business modelsignifies a proactive step toward meeting the evolving demands of themarket while reinforcing our reputation for excellence in research,development, and cutting-edge innovation. This innovative businessmodel is expected to enhance the development of our Zaeras™ LDEStechnology, while significantly reducing development and operationalcosts.
ABOUND is not just a name change; it symbolizes asignificant turning point for our Company and makes clear ourunwavering commitment to excellence and innovation, to make cleanenergy abundant. With a renewed focus on management, a comprehensivebusiness plan, and a commitment to fostering top talent, we invite ourstakeholders to join us on this exciting journey as we strive tocreate a future where possibilities abound.
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-demand delivery ofelectricity without the limitations or environmental risks associatedwith 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. Leveraging 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 dischargeoperations. Comparable to other Flow Battery technologies, scaling upthe energy capacity of Zaeras™ is as simple as increasing the sizeof the fuel tank; a cost-effective solution, from kW to MW and kWh toMWh. A welcome alternative to the fixed power-to-energy ratioconstraints ingrained in traditional systems, such as Li-ion and ZincHybrid Batteries.
To learn more about ABOUND’s technology, pleasevisit: https://Abound.Energy
For more information pleasecontact:
Email: Investors@Abound.Energy
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 to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise.
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