(TheNewswire)
VANCOUVER, BC – TheNewswire - January 31, 2024 / ABOUND Energy Inc. (“ABOUND” or the “Company”) (CSE:ABND) (OTC:ZAIRF) (FSE:0E9) is proud to announce, in a decisive move signaling a new era, its rebranding to ABOUND. This change is not merely cosmetic; it represents a strategic shift in corporate management, underlining a fresh vision and a comprehensive go-forward plan.
As of the opening of trading on January 31, 2024, the Company 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 of Directors. The Company’s shares have commenced trading on the CSE under 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’s commitment to chart a new course for the company. ABOUND will usher in a transformative phase, guided by a dynamic leadership team with the purpose of realizing the company’s vision to provide a low-cost, long-duration energy storage solution to enable global energy sustainability. This objective is achievable by harnessing the abundance of zinc metal and air, utilizing the Zaeras™ Technology to pave the way for abundant and sustainable energy. This change further reflects our dedication to innovation, growth, and the pursuit of excellence.
1. Corporate Shift: The rebranding to ABOUND represents more than just a change in name; it signifies the implementation of a comprehensive forward-looking plan that maps out a path for sustained growth and success. This plan encompasses a revised focus on diversification, an expansion of market presence, and a commitment to realizing unparalleled value to stakeholders.
A key aspect of this transformation is the shift from a build and sell model for Zaeras™ to a profit-sharing model, where ABOUND will enter into joint ventures with energy providers who regularly overproduce and, as a result, sell excess power at a significant reduction or even pay others to take it. ABOUND will offer its Zaeras™ technology to these providers, enabling them to sell excess power during peak usage times. In return, ABOUND will receive the largest percentage of income as part of the joint venture. Once ABOUND achieves a return on investment, the revenue split will reverse, with the provider receiving the larger percentage of income. This strategic approach aims to create a mutually beneficial partnership while optimizing ongoing revenue streams for all involved parties.
In another substantial shift, ABOUND is transitioning to a development model that is centered around partnerships, through external collaboration. This transformation will be strengthened by the introduction of ABOUND's new "Testing and Development Services." Beyond the goal of generating revenue to offset overhead costs, this innovative business model is expected to drive and enhance the development of our Zaeras™ LDES technology. It seeks to leverage testing and development capabilities at both our R&D and Cathode development facility, as well as our engineering facility, fostering innovation and efficiency through collaborative efforts with external experts across various developmental stages.
2. Management Revitalization: ABOUND is set to benefit from a revamped leadership structure, bringing in seasoned professionals with a proven track record in steering companies toward success. The new team is committed to driving ABOUND to new heights of achievement.
The new leadership team has demonstrated resilience, organizational prowess, and efficiency in steering the company out of an unprecedented financial downturn. Their successful navigation included a strategic refocusing of corporate efforts, achieved with notable effectiveness despite limited resources.
Directors of ABOUND Energy Inc.:
Mr. Jason Birmingham, Dr. Simon Fan, Mr. Keith Morlock and Mr. Scott Larson.
Directors of ABOUND’s wholly owned subsidiary, Zinc8 Energy Solutions USA Inc.:
Mr. Doug MacDonald, Mr. Robert Parker and Mr. Jason Birmingham
3. Core Competence: Under the guidance of our new leadership team, ABOUND is firmly dedicated to excellence through a proactive engagement in a strategic initiative to reacquire and nurture top-tier talent. We deeply recognize that the success of our endeavors is intricately linked to the unparalleled expertise and unwavering dedication of our team members, many of whom have played pivotal roles in advancing the Zaeras™ LDES technology over the past decade.
To foster a corporate environment that is synonymous with innovation and collaboration, we are actively shaping a culture that attracts and retains the industry's best and brightest professionals. This deliberate effort underscores our dedication to maintaining a competitive edge through the acquisition and cultivation of exceptional talent.
4. Testing and Development Services: Capitalizing on multimillion-dollar investments directed towards the establishment and expansion of our Engineering and R&D/Production facilities, ABOUND is strategically advancing into the realm of Testing and Development services. This strategic move is strengthened by our extensive proficiency in fluid mechanics, computational modeling, mechanical design, and material and electrochemical characterization. This expansion serves as a resolute commitment to not only maintain but also enhance our standing as a pioneering force in technological innovation, in the renewable energy sector. By harnessing our comprehensive expertise, we aim to offer valuable solutions that contribute to the advancement of a Global transition to Clean Energy.
By expanding our capabilities into Testing and Development services, we aim to provide comprehensive solutions that integrate our accumulated knowledge and leverage our specialized and distinctive testing infrastructure. This strategic initiative is driven by a dedication to exceed industry standards and set new benchmarks in technological advancements. This business model signifies a proactive step toward meeting the evolving demands of the market while reinforcing our reputation for excellence in research, development, and cutting-edge innovation. This innovative business model is expected to enhance the development of our Zaeras™ LDES technology, while significantly reducing development and operational costs.
ABOUND is not just a name change; it symbolizes a significant turning point for our Company and makes clear our unwavering commitment to excellence and innovation, to make clean energy abundant. With a renewed focus on management, a comprehensive business plan, and a commitment to fostering top talent, we invite our stakeholders to join us on this exciting journey as we strive to create a future where possibilities abound.
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.
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