The Directors of K2 Energy Limited (
K2 Energy's major activities during the quarter were its strategic investment in Atomera, Inc. ("Atomera") and its solar energy activities.
ATOMERA, INC.
K2 Energy provided critical funding to Atomera, Inc. during its R & D development phase while they developed patentable technology for the silicon chip industry with energy saving and performance attributes. This funding converted into a significant interest in a NASDAQ listed corporation, being Atomera, Inc.
Detailed below are extracts from announcements made by Atomera in October and November 2021. "Atomera Incorporated (
Atomera's share price as at 31 December 2021 was approximately USD20 per share, which valued K2 Energy's shareholding in Atomera at approximately AUD14.5 million.
MST(TM) SOLAR
K2 Energy owns the exclusive worldwide rights to the MST(TM) Technology for all solar energy applications.
K2 Energy funded a research and development solar program conducted by Atomera with the aim being to develop more efficient silicon-based cells utilising MST(TM). Atomera and K2 Energy agreed that the solar activities have entered the commercialisation/collaboration phase. K2 Energy is seeking a solar group to joint venture or collaborate with, in order to commercialise the MST(TM) Technology.
QUARTERLY CASHFLOW
Cash on hand at 31 December 2021 was $472,426.
Cash outgoings for the quarter were $19,000, including an amount of $3,300 paid for the use of the Company's registered office premises.
About K2 Energy Limited
K2 Energy Limited (NSX:KTE) is currently involved in several major activities, being a Strategic Investor in Energy Saving Technology and Solar Energy. K2 Energy provided critical funding to Atomera, Inc. during its R & D development phase while they developed patentable technology for the silicon chip industry with energy saving and performance attributes. This funding converted into a significant interest in a NASDAQ listed corporation, being Atomera, Inc.
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