HARTFORD ENERGY SOLUTIONS INC.
ANNOUNCES $3.5 MILLION NON-BROKERED
PRIVATE PLACEMENT FINANCING

The Company’s Rechargeable Zinc-Manganese Dioxide Battery Technology to Target Residential and Commercial Backup Power Markets

TORONTO, ONTARIO, CANADA, August 8, 2023 /EINPresswire.com/ -- Hartford Energy Solutions Inc. (HES), a company commercializing innovative clean energy technologies is pleased to announce a non-brokered private placement financing for gross proceeds of up to CAN$3,500,000 through the issuance of up to of 7,000,000 common shares (each, a "Common Share") in the capital of the Company at a price of $0.50 per Common Share (the "Offering").

Gross proceeds raised from the Offering will be used for the continued development of proprietary large format Zinc-Manganese Dioxide (Zn-Mn02) rechargeable battery solutions for use in stationary off-grid and grid-tied applications with an initial focus on residential and commercial backup power.

“While the transition away from fossil fuels is only beginning the industry is already experiencing exponential growth resulting in several issues including fire safety, the use of hazardous materials, increasing costs and long lead times,” said Wayne Hartford, CEO and Chairman of HES. “HES will be addressing these issues with Zn-Mn02 solutions using environmentally responsible materials that are non-flammable, non-hazardous, less expensive and readily available,” said Hartford.

The HES technology is based on batteries previously developed by Wayne Hartford, Dr. Klaus Tomantschger and Dr. Karl Kordesch, the inventor of the single-use Zn-Mn02 “Alkaline” battery that continues to dominate the consumer battery market. The business focused on small format rechargeable Zn-Mn02 batteries in AAA and AA sizes with products sold internationally to retail, business and OEM customers. Early work on large format Zn-Mn02 batteries during this period showed great promise. In recent years several million dollars has been spent on its continued development.

To bring the technology to market, HES is assembling a management team, Board of Directors and Advisors with over 200 years of experience developing and commercializing energy storage technologies. This includes energy storage executives who were instrumental in commercializing the original small format rechargeable Zn-Mn02 battery technology.

About Hartford Energy Solutions Inc.:

Hartford Energy Solutions Inc. is bringing to market next generation, clean energy storage solutions with an initial focus on proprietary large format rechargeable Zinc-Manganese Dioxide batteries for stationary off-grid and grid-tied applications. These applications include residential and commercial backup power, among others.

For more information please contact: info@hartfordenergysolutions.com

Wayne Hartford
Hartford Energy Solutions Inc.
info@hartfordenergysolutions.com

This press release can be viewed online at: https://www.einpresswire.com/article/648759708

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