Aether Catalyst announced a $500,000 non-brokered private placement in June and has now amended the terms of the financing to up to $525,000 priced at $0.15 per unit which includes a one half warrant priced at $0.25 for a period of 12 months.
One of the successes that Aether has had over the past three years is the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) funding which contributed over $450,000 to the company. On August 24th, Aether announced an additional non-repayable contribution of up to $250,000 alongside another up to $20,000 funding through NRC IRAP’s Youth Employment Program. This funding is indicative that the NRC IRAP has sufficient confidence in Aether’s technology to continue to support its development. The contribution will support their research and development project and enable Aether to significantly speed up the time to get its technology to market by allowing additional capital and human resources to be dedicated to the project.
Given COVID’s effect on the ability of the large manufacturers returning to their R&D departments, Aether is continuing its development on the low cost catalyst for automobiles but also targeting the urban air polluters such as lawn mowers and leaf blowers. These small motor engines cause much more greenhouse gas emissions than we realize and environmentalist are targeting change for this. Aether feels that their technology could be implemented on small motors at a price point that would not adversely affect the sale of them.
In early August, COO of Aether Catalyst, Greg James, was asking to present at the North American Monetary Metals Summit. Greg and the Organizer, Robert Kientz discuss the significance of Aether’s technology which reduces the use of precious metals for catalytic converters and how this could save the automobile industry billions. https://www.youtube.com/watch?v=LurzQXz-tWQ&t=1053