VANCOUVER, BC – TheNewswire - February 6, 2024 / ABOUND Energy Inc. (“ABOUND” or the “Company”) (CSE:ABND) (OTC:ZAIRF) (FSE:0E9) has reached a significant milestone by formalizing its entry into Testing and Development services through the signing of a Memorandum of Understanding (MOU). In accordance with ABOUND's previously disclosed business model, this milestone underscores a steadfast dedication to advancing clean energy solutions. This commitment is prominently demonstrated through our collaborative initiative in the joint development of advanced materials and components, specifically tailored for energy storage applications.

Capitalizing on multimillion-dollar investments directed towards the establishment and expansion of its Engineering and R&D/Production facilities, ABOUND is strategically positioning itself as a pioneer in the field of Long-Duration Energy Storage. The move into Testing and Development services is reinforced by ABOUND's extensive proficiency in fluid mechanics, computational modeling, mechanical design, and material and electrochemical characterization.

This expansion underscores ABOUND's resolute commitment not only to maintaining but also enhancing its standing as a driving force in technological innovation. By harnessing comprehensive expertise, ABOUND aims to offer valuable solutions contributing to the global transition to clean energy.

The Testing and Development services initiative involves providing comprehensive solutions that integrate ABOUND's accumulated knowledge and leverages its specialized testing infrastructure. This strategic approach is guided by a dedication to exceeding industry standards and setting new benchmarks in technological advancements.

This MOU marks a pivotal moment for ABOUND, as we embark on providing Testing and Development services. “We are driven by our dedication to expediting the transition to sustainable, secure, and resilient energy sources. This initiative not only positions us to meet the evolving demands of the clean energy market but also strengthens our dedication to excellence in research, development, and cutting-edge innovation," stated Dr. Simon Fan.

ABOUND's innovative business model is poised to enhance the development of its Zaeras™ LDES technology while simultaneously achieving a substantial reduction in both development and operational costs. The company anticipates that this move will play a key role in improving its financial well-being and shaping the future of the renewable energy sector.

As ABOUND embarks on this groundbreaking endeavor, the company remains dedicated to its vision of being at the forefront of sustainable technological solutions that propel the world towards a cleaner and more efficient energy landscape.

About ABOUND Energy Inc.

ABOUND specializes in developing scalable, environmentally friendly, long-lasting energy technology. Our patented Zaeras™ long-duration energy storage technology, leveraging zinc-air chemistry, guarantees the storage and on-demand delivery of electricity without the limitations or environmental risks associated with current market leaders.

About ABOUND’s Zaeras™ Technology

Zaeras™ is precision-engineered to meet future energy requirements, with a specific emphasis on simplifying long-duration energy storage. Leveraging the potential of its multi-patented Zaeras™ technology, ABOUND is poised to facilitate the seamless integration of green energy sources into the grid. This is achieved by minimizing curtailment, bridging the gap between supply and demand, and efficiently integrating green energy into the grid. ABOUND's strategic initiatives encompass opportunities for peak demand reduction, leveraging time-of-use arbitrage, participating in value stacking programs, and entering the distributed long-duration energy storage sector. These endeavors are aligned with our central objective of increasing the integration and resiliency of green energy, while stabilizing the grid.

Distinguished by its inherent safety—free from fire or explosion hazards—Zaeras™ guarantees sustained capacity over an extensive lifecycle. Simultaneously, it showcases versatility by independently managing charge and discharge operations. Comparable to other Flow Battery technologies, scaling up the energy capacity of Zaeras™ is as simple as increasing the size of the fuel tank; a cost-effective solution, from kW to MW and kWh to MWh.  A welcome alternative to the fixed power-to-energy ratio constraints ingrained in traditional systems, such as Li-ion and Zinc Hybrid Batteries.

To learn more about ABOUND’s technology, please visit: https://Abound.Energy

For more information please contact:

Email: Investors@Abound.Energy

Notice Regarding Forward Looking Statements

This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.