IONOMR INNOVATIONS CLOSES US$ 15,000,000 SERIES A FUNDING WITH SHELL VENTURES, FININDUS, CHEVRON TECHNOLOGY VENTURES, NGIF CLEANTECH VENTURES AND PALLASITE VENTURES

Vancouver, Bc (ots/PRNewswire) - Ionomr Innovations Inc. has closed a $15
million US Series A funding round with lead investors Shell Ventures and
Finindus, joined by Chevron Technology Ventures (CTV), NGIF Cleantech Ventures
and Pallasite Ventures.

"This strategic investment demonstrates the industry's confidence in Ionomr's
leading membrane and polymer technology," said Bill Haberlin, CEO of Ionomr
Innovations. "Green hydrogen production, hydrogen fuel cells and efficient
carbon utilization are all critical to reducing emissions in hard to decarbonize
heavy industries such as steel making, chemical production, long-term seasonal
energy storage, heavy duty transport, aviation and shipping. The backing of
these industry partners will allow us to significantly accelerate scale-up and
deployment and realize our potential for revolutionizing the enabling materials
in this field."

The funding will allow Ionomr to further scale its ion exchange membranes and
polymers that are fundamental to the acceleration of the hydrogen economy.
Ionomr produces breakthrough materials in both proton exchange membrane
(Pemion®) and anion exchange membrane (Aemion®) technology, with the potential
to enable applications through the entire hydrogen value chain -- from
production of H2 gas and chemicals (through electrolysis) to efficient use of
hydrogen in fuel cells. Ionomr's superior materials can make more efficient,
cost competitive solutions possible, including eliminating expensive precious
metal requirements from hydrogen production and CO2 electrolysis, and supporting
higher temperature recyclable fuel cell solutions.

Phoebe Wang, Shell Ventures, Venture Principal "Shell Ventures is pleased to
support the development of Ionomr's leading proprietary materials and the
potential they offer to accelerate the hydrogen economy. We are excited to work
with Ionomr's highly skilled team to accelerate the future of affordable green
hydrogen, in line with Shell's aim to achieve double-digit share of global clean
hydrogen sales."

Hans Maenhout, Finindus, Investment Director "From the outset, we were impressed
by Ionomr's fundamental approach to developing membranes unencumbered by
traditional degradation mechanisms and with cost-efficient large-scale
manufacturing in mind. The company has succeeded in turning its unique
scientific insights into high performance sustainable products for use in both
PEM fuel cells and electrolysers, as well as enabling AEM, a most promising
novel pathway to low-cost hydrogen production."

Barbara Burger, Chevron Technology Ventures, Vice President, Innovation and
President " Ionomr has the potential to lower the cost and improve the