Cleantech

Project "Pluton" to Enable Geothermal Energy Anywhere in The World - Terawatts of Clean, Secure and Baseload Energy by 2050

Sage Geosystems, a leader in heat harvesting solutions with modern oilfield expertise and methodologies to enable geothermal energy anywhere in the world ("SAGE") and Metamaterial Inc. ("META") (CSE:MMAT) a developer of high-performance functional materials and nanocomposites, today announced that META has collaborated with SAGE to submit a $10,000,000 initial proposal under an open call for the Advanced Research Projects Agency - Energy (ARPA-E) U.S. Department of Energy. If successful, the project (codenamed "Pluton") will run over a three-year period. The proposal will validate aspects of META's NANOWEB® proprietary production methodology to develop a novel Thermo-Electric Generator (TEG) system. SAGE has teamed up with META to model, co-develop, investigate, and validate a new TEG technology for harnessing of geothermal energy in drilling wellbores at selected testing locations

There is significant interest in accessing geothermal energy from the Earth as it provides an infinite clean and renewable baseload source of energy. Most geothermal operations harvest heat using water, bring the heated water to the surface and produce electricity with an Organic Rankine Cycle (ORC) turbine and generator. A high upfront capital cost means the energy generated may not be cost-competitive with solar or wind. Project Pluton aims to construct a geothermal well (new or existing well) in which we will strategically place thermoelectric generators (TEGs) to generate subsurface electricity from the temperature differences that inherently exist in a geothermal well as heat is harvested. The new TEG solution utilizes the Seebeck effect to generate electricity.

"We rely on the decades of combined expertise of SAGE's management and their ability to use oil and gas wells to create a new, geothermal alternate future for the hydrocarbon industry with a rare opportunity to support a common clean energy cause," said George Palikaras, President and CEO of Metamaterial, Inc. "We are excited about the potential acceleration that the ARPA-E competition could offer if our project is selected, and we are working in parallel with SAGE to address technical requirements and demonstrate a prototype in 2021."

META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. NANOWEB® is a revolutionary transparent conductive film made of an invisible (sub-micron) metal mesh that can be fabricated onto any soft or rigid surface. SAGE combines innovative approaches to heat harvesting with modern oilfield expertise and methodologies to enable geothermal energy anywhere in the world - terawatts of clean, secure and baseload energy by 2050.

"Metamaterial's technology has the potential to deliver breakthroughs across a range of applications and industries, and their unique technologies leverage thin films in transformative ways. Project Pluton has the potential to deliver the precision, cost and scale required to advanced geothermal energy harvesting in drilling wellbores" said Lance Cook, President and Chief Technology Officer of Sage Geosystems. "We look forward to working with Metamaterial on this exciting breakthrough."

About Sage Geosystems

Sage Geosystems is a newly launched geothermal venture with over 125 years combined experience as executives in the oil and gas industry, with the knowledge and skills to apply oilfield technology to significantly improve the efficiency of geothermal. More information about Sage Geosystems can be found at www.sagegeo.com.

About Metamaterial Inc.

META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our achievements have been widely recognized, including being named a Global Cleantech 100 company. Learn more at www.metamaterial.com.

Forward Looking Information

This release includes forward-looking information within the meaning of Canadian securities laws regarding META and its business, which may include, but are not limited to, statements with respect to the business strategies and operational activities of META, the outcome of the ARPA-E competition and undertaking of Project Pluton, the timing, duration and success of Project Pluton, the validation of aspects of META's production methodology, the development of a novel TEG system and such TEG system's capabilities. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of META and are based on assumptions and subject to risks and uncertainties. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding participating in the ARPA-E competition, the ability and performance of NanoWeb, the development of new technology, the ability of META to commercialize its prototypes, the collaboration between META and SAGE, and the ability of META to expand into other uses. Although META has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and META does not undertake any obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events, or otherwise.

The CSE has neither approved nor disapproved the contents of this news release.

Media inquiries:

META
media@metamaterial.com

SAGE
Cindy D. Taft
Chief Operating Officer
cindy.taft@sagegeosystems.com

Investor inquiries:
Mark Komonoski
Investor Relations
phone: 1-877-255-8483
mark@metamaterial.com

SOURCE:Metamaterial Inc.



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What is Cleantech Investing?

What is Cleantech Investing?

Clean technology, or cleantech, refers to products, services and technologies that reduce negative environmental impacts through improving energy efficiency, the sustainable use of resources or environmental protection activities.

Cleantech spans several industry verticals, including: renewable energy generation, energy storage, energy efficiency, transportation, air and environment, clean industry, water and agriculture. Together, this array of sectors constitutes much of the diverse market of cleantech investing.

The key trends dominating the global cleantech sector in 2022 are energy storage, electric vehicles (EVs), hydrogen solutions and carbon capture. Read on for more of what the space looks like today.

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Top 5 Canadian Cleantech Stocks of 2022

Click here to read the previous top Canadian cleantech stocks article.

Investment in renewable energy and clean technology continues to grow. Despite setbacks due to COVID-19, global green recovery efforts have been a boon for the cleantech market.

Analysts see a few key trends dominating the cleantech sector worldwide, such as offshore wind energy, agricultural technology, electric vehicles (EVs), EV infrastructure and clean energy commercial long-haul transportation solutions, including hydrogen and energy storage installations.

With 2022 in full swing, here’s a look at the top Canadian cleantech stocks on the TSX and TSXV. CSE-listed stocks were considered, but none made the cut. All companies listed had market caps of at least C$10 million as of July 14, 2022. Numbers and figures were current at that time, with data gathered using TradingView’s stock screener.

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STEER EV Subscription Platform Expands to Texas

Facedrive Inc. (" STEER " or " the Company ") (TSXV: FD) (OTCQX: FDVRF), an integrated ESG technology platform, is pleased to announce that STEER EV, the Company's electric vehicle (" EV ") subscription-based service, has added a new service area, Texas to its US operations. The service is immediately available to the residents of the state, with the regional hub situated in Austin. STEER EV has been growing its fleet in Q1 - Q2 2022, and plans an ambitious expansion trajectory both in fleet size and geographical presence for Q3 through Q4.

STEER EV Subscription Platform Expands to Texas (CNW Group/Facedrive Inc.)

STEER EV, a technology-driven EV subscription platform, was acquired by the Company from Exelorate Enterprises LLC, a subsidiary of Exelon Corporation (NASDAQ: EXC), in September 2020 . STEER EV was created to challenge the traditional car ownership model and accelerate the general public's switchover to environmentally friendly transportation through an automobile subscription service. The Company feels its turnkey month-to-month model – which includes insurance, maintenance, vehicle swaps and concierge delivery – presents an attractive alternative for customers seeking a time-efficient and hassle-free service.

The Company sees STEER's EV subscription business capitalizing on two mega-trends in the personal transport industry. The global electric vehicle market is expected to grow at an appreciable rate of 26.8% CAGR from 2021 to 2030 1 , and consumers are increasingly opting for more flexible driving options such as per-use or subscription-based services instead of traditional car ownership. STEER EV's expansion into Texas is also a critical step in the scaling up of the Company's operations, as this state represents the second largest car market in the United States . 2

In the first phase of its launch in Texas , STEER's fleet will consist of Tesla Model S for the "Premier Performance" tier, Tesla Model Y for the "Preferred Plus" tier and Tesla Model 3 vehicles for the "Preferred" tier. The Company feels the local market response has been particularly strong and has already resulted in significant oversubscription, based on the Company's current capacity levels in the region. STEER plans to meet this demand by continuing to scale up operations, including adding more vehicles to the fleet in the weeks to follow.

STEER's expansion to Texas comes within the context of rising gas prices, coupled with growing public attention to the issue of climate change and governments' intensifying efforts to mitigate these effects. As an ESG ecosystem, STEER is committed to addressing environmental, social and governance concerns, and will continue working towards a better future alongside responsible governments, businesses and individuals. Capitalizing on the ongoing dramatic shift in the automotive industry and consumer behavior patterns, the Company's STEER EV division has embraced the rising global trends of environmental consciousness and sharing economy.

STEER EV aims to combine the compelling story behind STEER's vision with excellent customer service standards and a commitment to operational excellence. Its customer signup process is easy and can be started in one click on the official STEER EV mobile app in IOS and Android app stores, while more information on the service and support options is available on the STEER EV website www.steerev.com . STEER's all-in subscription price for an EV vehicle includes driver essentials such as insurance, routine maintenance and repair, and a concierge service that removes the hassle of car ownership while enabling seamless vehicle swaps. STEER's seamless user experience, bespoke concierge service and growing fleet enables it to aspire for a leadership position in the industry and grow a loyal fan base in its existing markets.

"The launch of STEER EV to Texas, USA , marks an important next step in the platform's North American expansion and reflects the ever-growing demand for environmentally responsible transport by both individuals and enterprises. Furthermore, STEER EV meets an unfulfilled demand in the marketplace for a turnkey car subscription service. Having proved the efficacy and the popularity of the STEER business model in our Washington and Toronto markets, we are focused on replicating its success in Texas and offer hassle-free and flexible access to high-quality EV's to the state's residents. After Texas , our nationwide rollout will continue with the launch in Florida which is anticipated in the next 60 days, followed by launches in British Columbia and California ," said Suman Pushparajah , CEO of STEER.

About the Company

STEER is an integrated ESG technology platform that moves people and delivers things through subscription and on-demand services. The Company's goal is to build a one-of-a-kind system that aggregates conscientious users, through a series of connected offerings, and enables them to buy, sell, or invest with the same platform, STEER. The Company's offerings generally fall into two categories: subscription-based offerings led by its flagship electric vehicle subscription business, STEER EV, and on-demand services incorporating delivery, B2B marketplace, Delivery-as-a-Service (DaaS) and rideshare businesses. The Company's platform is also powered by EcoCRED, its big data, analytics and machine learning engine which seeks to capture, analyze, parse and report on key data points in ways that measure the Company's impact on carbon reductions and offsets.

For more about the Company, visit www.facedrive.com .
Suman Pushparajah , CEO
suman@facedrive.com
STEER
100 Consilium Pl, Unit 400
Scarborough, ON
Canada M1H 3E3
www.facedrive.com

Forward-Looking Information

Certain information in this press release contains forward-looking information, including with respect to the Company's business, operations and condition, management's objectives, strategies, beliefs and intentions, and the company's forward plans to rebrand. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events, such as those pertaining to the Company's launch in Texas and intended fleet growth, may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.

See "Forward-Looking Information" and "Risk Factors" in the Company's Annual Management Discussion & Analysis (MD&A) for the year ended December 31, 2021 (filed on SEDAR on May 2, 2022 ) and its interim MD&A for the period ended March 31, 2022 (filed on SEDAR on May 30, 2022 ) for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation and regulatory requirements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

STEER Logo (CNW Group/Facedrive Inc.)

SOURCE Facedrive Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/05/c4012.html

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How to Invest in Cleantech

How to Invest in Cleantech

There’s no denying the importance of the cleantech sector — even more so as climate change continues to be a growing concern on a global level.

It should come as no surprise, then, that interest in the cleantech sector is making waves, and there’s no shortage of opportunities available for the cleantech investor.

For example, according to Fortune Business Insights, the global market for green technology will be worth US$51.09 billion by 2029. These technologies include those targeting green building, agriculture, air and water pollution monitoring and carbon footprint management.

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