IONOMR INNOVATIONS TO OPEN RESEARCH AND DEVELOPMENT FACILITY IN NEW YORK STATE

Vancouver-based Ionomr expands with entry to hydrogen clean tech
cluster in Greater Rochester Area, fueling capacity to scale up commercialization
of its breakthrough materials

VANCOUVER, BC. and ROCHESTER, NY, Feb. 16, 2022 /PRNewswire/ - Ionomr Innovations, developer and manufacturer of breakthrough ion-exchange membranes and polymers for the hydrogen economy, will establish a U.S. fuel cell and green hydrogen electrolysis research and development center in the Greater Rochester area. The company will renovate space located at Metro Business Park in the Town of Brighton, Monroe County to create a customer applications test center. The facility will generate more than 50 new jobs over the next five years. The region's educated, skilled talent pool and the affordable cost of living are major factors in the site selection. Ionomr expects to be operational at the new location by Q2 2022.

Founded in Canada in 2018, Ionomr Innovations develops, manufactures and markets next generation ion-exchange membranes and polymers to enable the scaling up of the hydrogen economy. Ionomr's Pemion® and Aemion® technologies provide significant cost, performance and sustainability advantages for fuel cells, green hydrogen production and carbon capture and conversion (CCUS). In June, Ionomr Innovations was selected to join the World Economic Forum's Tech Pioneers, which brings together 100 companies from around the world that are pioneering break-through technologies and innovations aimed at tackling critical global challenges.

Ionomr Innovations CEO Bill Haberlin said, "We are pleased to establish our U.S. presence in Rochester and look forward to tapping into the local workforce to build a team here that will be a critical part of fulfilling our mandate to bring advanced materials to market faster and with global reach. Ionomr's membranes and polymers are leading the way in the clean hydrogen economy, addressing the fundamental problems that until now have limited the commercialization of fuel cells, hydrogen electrolysis and green fuels."

Empire State Development is supporting the project with up to $1 million through its Excelsior Jobs Tax Credit Program in exchange for job creation commitments. Monroe County, RG&E, and Greater Rochester Enterprise are also offering assistance with Ionomr's growth in the region. The total project cost to update the Mero Park facility has been placed at a little more than $2.7 million. The company had considered further expanding its Canadian operations and additionally explored other U.S. sites ultimately selecting the Monroe County location due to New York state's support.

New York state's green energy agenda is the most aggressive climate and clean energy initiative in the nation, calling for an orderly and just transition to clean energy that creates jobs and continues fostering a green economy. The state incentives provided for this project directly support those efforts and will not only help shift the state toward a carbon neutral economy, fulfilling the goals of New York's Climate Leadership and Community Protection Act, but also spur economic recovery from the COVID pandemic.

State Senator Jeremy A. Cooney said, "I am proud to welcome lonomr to our region as an environmentally responsible driver of economic and employment growth and look forward to its impact on meeting our state's climate goals. By offering innovative green energy research and development, lonomr offers incredible potential for enhanced renewable resources to help power our communities and industries. I applaud the partnership of Empire State Development, Monroe County, RG&E, and Greater Rochester Enterprise in advancing this investment and Finger Lakes Forward."

State Assembly Member Sarah Clark said, "Today's announcement is an indication of our region's economic strength and improving competitiveness. I'm proud to welcome Ionomr to Rochester, and grateful for the decision to open their R&D facility within Metro Business Park in Brighton. This facility will create green jobs in Rochester and help strengthen our local economy. Our region continues to be an ideal location for businesses, offering a skilled workforce as well as affordable living. Thank you Finger Lakes Forward and Empire State Development for the contributions ensuring Rochester remains an attractive market for businesses looking to expand their footprint."

For additional information about Ionomr Innovations' entry to the Greater Rochester Area, read the news release issued by Empire State Development.

About Ionomr Innovations

Ionomr is advancing the development and manufacturing of ion-exchange membranes and polymers for the hydrogen economy. Ionomr's Pemion® and Aemion® technologies provide cost, performance and sustainability advantages for fuel cells, hydrogen production, carbon utilization, and advanced energy storage. Leveraging technology developed at Simon Fraser University, Ionomr was founded in 2018 and employs 31 professionals at its research and manufacturing facilities in Vancouver, Canada. Ionomr was also recently selected to join the World Economic Forum's Tech Pioneers, which brings together 100 companies from around the globe that are pioneering break-through technologies and innovations aimed at tackling critical discussions. For more information about how Ionomr is helping to advance the clean energy economy, visit www.ionomr.com.

SOURCE Ionomr Innovations Inc.