- A large US fleet operator has approached Aether Catalyst Solutions (ATHR) to use its catalyst for a 150,000-vehicle fleet
- The company approached Aether as it has experienced increasing catalytic converter theft from its fleet vehicles
- Aether has chosen a catalyst formulation for benchmarking and will scale it up before shipping it to the fleet company
- The fleet company will then begin the project by conducting tests on the catalyst at its research facility
- Shares in Aether Catalyst Solutions Inc. (ATHR) are up 44.83 per cent, trading at $0.42 per share
A large US fleet operator has approached Aether Catalyst Solutions (ATHR) to use its catalyst for a 150,000-vehicle fleet.
Aether has chosen a catalyst formulation for benchmarking and will scale it up before shipping it to the fleet company. The fleet company will then begin the project by conducting tests on the catalyst at its research facility in a vehicle that represents its fleet.
“Our catalyst technology has come a long way in the last few years and we’re eager to take these next steps towards commercialization,” said Aether COO Taylor Procyk.
The company approached Aether due to increasingly significant losses from catalytic converter theft from its fleet vehicles. It has suffered losses from both the cost of transporting inoperable vehicles and subsequently replacing expensive catalytic converters, in addition to having those vehicles out of commission.
This is a growing problem for fleet operators globally, as the cost of palladium, the most expensive component of catalytic converters, has risen dramatically over the last five years.
“We’re tremendously excited about this opportunity,” said Aether president Paul Woodward. “Our catalyst is not only less expensive than the incumbent PGM catalyst, but it is also far less likely to be stolen.”
Aether Catalyst Solutions is focused on providing significant cost reduction in automotive catalytic converter catalysts while meeting or exceeding government emission standards.
While Aether’s primary focus has been automotive applications, the company is also developing catalysts to address small motors emissions, a significant contributor to urban air pollution.
Shares in Aether Catalyst Solutions Inc. (ATHR) are up 44.83 per cent, trading at $0.42 per share as of 3:20 pm ET.