Abound Energy Inc. announced the signing of a Memorandum of Understanding with a technology company, providing the market with an innovative, environmentally friendly, green energy solution. Similar to Zaeras, this technology delivers multiple safe, sustainable energy solutions that advance a positive societal impact. At the core of this MOU lies the enhancement and deployment of a synergistic innovative cleantech solution.

Integration with Zaeras Energy Storage Technology enables the combined system to efficiently generate and store accessible green energy, thereby enhancing and accelerating profitability for all stakeholders. This collaboration holds the potential to accelerate the current revenue timeline, feasibly achieving revenue as early as fourth quarter of 2024. Harnessing the collective expertise of ABOUND and its new associate, shared objective is to deliver a significant Cleantech Solution, leveraging storage solution to amplify the overall economic benefits of the project.

This proprietary technology, nearing market readiness, integrates advanced mechanical designs and chemical processes to tackle modern global environmental challenges. Through the deployment of this innovative technology, collaborative endeavors aim to establish sustainable sources of renewable energy, facilitate the production of marketable goods, and substantially mitigate greenhouse gas emissions, thereby alleviating the environmental burden for future generations. Amidst the urgent global call to lessen impact and address environmental degradation, the MOU between ABOUND and its strategic collaborator stands as a testament to proactive action.

This initiative not only positions ABOUND to meet the evolving demands of the clean energy market but also strengthens its dedication to excellence in research, development, and cutting-edge innovation. ABOUND's updated business model is intended to enhance the development of its Zaeras LDES technology while simultaneously achieving a substantial reduction in operational and development costs. The company anticipates that this strategic initiative will be instrumental in enhancing its financial health and shaping the trajectory of the renewable energy sector.

ABOUND remains steadfast in its commitment to partnering with Greentech innovators, in alignment with its vision of leading the charge in sustainable technological solutions that drive towards a cleaner and more efficient energy landscape.