ABOUND Energy Inc. and AZUL Energy Inc. announced a strategic collaboration where AZUL will engage the research capabilities and development resources of ABOUND, acting as a service provider. This collaboration will further the IP of both parties and develop additional sustainable energy solutions by combining ABOUND's air cathode technology, ZaeroTex, with AZUL's innovative non-precious metal catalyst technology. More specifically, the objective of this collaboration agreement is to create a non-precious metal catalyst- coated electrode material, offering a feasible substitute for conventional air cathodes utilizing precious metal catalysts, which are known for their higher cost and diminished durability.

ABOUND will provide its expertise regarding ZaeroTex, an innovative flexible material designed for effectively separating gas and liquid within the fuel cell stacks of Zaeras. This technology plays a pivotal role in optimizing cathode performance, thus contributing significantly to the evolution of the Zaeras Energy Storage Technology. With a commitment to maximizing the potential of the 'Air Battery' using their AZUL catalyst technology, AZUL will bring its extensive knowledge and experience to drive advancements in catalyst and cathode technologies.

Both companies share a common vision of promoting clean energies and realizing a sustainable energy economy. The collaboration between ABOUND Energy and AZUL Energy is effective as of April 1, 2024 for 12-month. Both companies are excited about the possibilities that this collaboration brings and look forward to pushing the boundaries of innovation in the pursuit of sustainable and clean energy solutions.