Quarterly Operations Update March 2023
Sydney, April 13, 2023 AEST (ABN Newswire) - The Directors of K2 Energy Limited (NSX:KTE) provide the following report for the quarter ended 31st March 2023.
K2 Energy's major activities during the quarter were its strategic investment in Atomera, Inc. ("Atomera"). 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.
On 15 February 2023 Atomera provided a webcast update on progress, a copy of which is available on its website. Atomera's management is reporting growing confidence that its intellectual property will lead to commercialisation.
Detailed below are extracts from the announcements made by Atomera in February 2023. "Recent Company Highlights"
- Released a Whitepaper detailing Atomera's contribution to advanced node technologies
- One customer advanced into the integration phase (Phase Three)
- Announced collaboration with Arizona State University to enable R&D aimed at advancing semiconductor materials
This point in the semiconductor industry cycle is ripe for Atomera to engage with customers on enhancing their process technologies and we are seeing a corresponding increase in customer interest," said Scott Bibaud, President and CEO. "Recent efforts focused on technologies for the most advanced nodes have been garnering particularly strong interest from the industry."
Further details are available at www.atomera.com.
Atomera's share price as at 31 March 2023 was approximately USD6 per share, which valued K2 Energy's shareholding in Atomera at approximately AUD 4.75 million.
K2 Energy owns the exclusive worldwide rights to the MST(TM) Technology for all solar energy applications.
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.