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Alberta Innovates has committed to up to $3.6 million in grants to support ASAC production

Edmonton, Alberta — April 1, 2021 — AdvEn Industries Inc. (“AdvEn”) today announced entering into an agreement with Alberta Innovates (“AI”) for the Company to receive up to $3.6 million in grant money toward the province’s first commercial advanced super activated carbon (“ASAC”) manufacturing plant. AdvEn receives an initial instalment of $2 million and the remaining $1.6 million will be provided upon the completion of agreed upon milestones.

“This commitment from AI is a significant step forward for Alberta as we develop sustainable opportunities for our oil and gas economy that are non-combustible and support the next generation of energy use and storage,” said Yanguang Yuan, Chief Executive Officer. “We are thrilled to be a participant in this stepping stone in developing critical materials for super capacitors and environmental applications.”

AdvEn will commence construction of its 36,000 sq. ft. ASAC manufacturing and research facility located in Nisku, AB, and will initially produce up to 400 metric tons of ASAC per year. The plant scales to a total estimated production of 1,200 metric tons. In four years of pilot testing, ASAC has performed with about 30% increased capacitance over competing materials while the process produces approximately 1/3 of the greenhouse gas emissions and uses less than 1/3 of the energy of other processes.

At full capacity, the plant will create approximately 50 high-paying jobs for Albertans.

About Us

AdvEn Inc. (formerly Nano Innovations Inc.), through its wholly owned subsidiary AdvEn Industries Inc., develops and commercializes carbon-centric advanced technologies utilizing industrial by-products: converting refinery residues into non-combustible products for energy storage and a clean environment. AdvEn’s 36,000 square foot manufacturing plant and research facility located in Nisku, Alberta, Canada, will produce up to 1,200 metric tons per year of advanced super activated carbon (“ASAC”) and will piloting the Company’s patented dry electrode super adhesive coatings (“ESAC”). ASAC products provide superior performance when compared to similar materials used in the super capacitor, battery, pharmaceutical and industrial filtration markets.

AdvEn, ASAC and ESAC are trademarks of AdvEn in Canada and the United States.

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