TORONTO–(BUSINESS WIRE)–Jul 16, 2024–

Canadian company Cipher Neutron Inc. (“Cipher Neutron”, the “Company” or “CN”) is pleased to announce that it has been awarded an Advanced Contract Award Notification (ACAN) to design and construct two (2) 250 kW Electrolyser stacks for Simon Fraser University (“SFU”).

This landmark project, slated to begin in Q4 2024, signifies a major step forward in green hydrogen technology and its applications in academic and research settings. The partnership between Cipher Neutron and SFU aims to propel forward-thinking research and innovation in sustainable energy solutions, leveraging Cipher Neutron’s cutting-edge AEM Electrolyser technology.

SFU Clean Hydrogen Hub

The project involves the development and deployment of a state-of-the-art 0.5 MW AEM Electrolyser, custom-designed to meet the rigorous research and operational needs of Simon Fraser University. One goal of SFU’s Hydrogen Hub ( www.sfu.ca/research/facilities/hydrogen-hub ) is to build an anionic exchange membrane (AEM) water electrolyser using novel fluorine-free polymer membranes developed by Ionomr Innovations ( https://ionomr.com/ ). This research initiative will de-risk scalable, next-gen hydrogen production technology. AEM technology is anticipated to reduce green hydrogen production costs while maintaining high performance and stability. The project will investigate and validate the AEM technology at the 250 kW – 1 MW scale, which is a critical design window that enables scaling cost advantages for green hydrogen generation.

This initiative underscores Cipher Neutron’s commitment to fostering sustainable technologies and supporting academic institutions.

The electrolyser stacks, with their high efficiency and robustness, will be instrumental in SFU’s ongoing research into hydrogen production, storage, and utilization. Cipher Neutron’s proprietary AEM technology will provide a significant advantage, ensuring high purity hydrogen generation with superior energy efficiency.

Impact on Renewable Energy Research

The implementation of Cipher Neutron’s AEM Electrolyser technology at Simon Fraser University is expected to have a significant impact on the field of renewable energy research. Together, SFU and Cipher Neutron will collaborate to explore advanced AEM electrolyser technologies to enable scaling of low-cost green hydrogen production and foster innovation in the hydrogen sector.

Strategic Partnership

Gurjant Randhawa, President & CEO of Cipher Neutron, stated, “We are delighted to collaborate with Simon Fraser University on this transformative project. Winning the ACAN is a testament to our innovative capabilities and the trust placed in us by such a prestigious institution. This partnership not only aligns with our mission to advance green hydrogen solutions but also reinforces our role as leaders in the renewable energy sector.”

Laura Sloboda, Operations Director, Clean Hydrogen Hub of SFU, stated, “As a leading research university and trusted innovation partner, Simon Fraser University is excited to collaborate with Cipher Neutron to advance the scalability of AEM electrolysers with this innovative 250 kW single-stack project. This initiative will help us advance the Canadian innovation ecosystem while developing the capacity needed to reach net-zero targets.”

About Cipher Neutron Inc.

Cipher Neutron is a rapidly growing disruptive technology company focused on AEM Electrolysers for Green Hydrogen production and Reversible Fuel Cells for power generation and Energy Storage Solutions. Cipher Neutron is a global group of scientists, engineers, technology developers, experts in hydrogen technology, investment bankers and people that have worked in hydrogen for decades. Cipher Neutron’s innovative products, such as AEM Electrolysers and Reversible Fuel Cells have unique advantages over other Green Hydrogen production, power generation and energy storage solutions currently available in the global market. Please see: https://cipherneutron.com/

Forward-Looking Statements: This news release may contain forward-looking statements regarding future events, financial performance, or business strategies of Cipher Neutron Inc. These statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed or implied in possible forward-looking statements. Cipher Neutron Inc. undertakes no obligation to update or revise any such forward-looking statements, if any, whether as a result of new information, future events, or otherwise. Cipher Neutron Inc. reserves the right to modify, amend or update any information in this news release without prior notice. Cipher Neutron Inc. is not required and may not inform readers of any such changes or any updates to this news release to reflect subsequent developments.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240716413910/en/

CONTACT: For more information, please contact:Gurjant Randhawa, CEO & President

Cipher Neutron Inc.

101 – 501 Alliance Avenue

Toronto, Ontario M6N 2J1

+1 (647) 803-0002

grandhawa@cipherneutron.comNancy Massicotte

Vice-President Corporate Development

Cipher Neutron Inc.

+1 (604) 507-3377

nancy@cipherneutron.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: OTHER ENERGY SUSTAINABILITY ENVIRONMENT ALTERNATIVE ENERGY ENERGY ENGINEERING GREEN TECHNOLOGY MANUFACTURING

SOURCE: Cipher Neutron Inc.

Copyright Business Wire 2024.

PUB: 07/16/2024 11:04 AM/DISC: 07/16/2024 11:04 AM

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