Montréal, Québec — February 9th, 2026. FeX Energy (“FeX”) today announced it is receiving advisory services and funding of up to C$1,200,000 from the National Research Council of Canada Industrial Research Assistance Program (“NRC IRAP”) to support a research and development project to advance the Iron Arc-S, FeX’s containerized, iron-based long-duration thermochemical energy storage system. The project will complete detailed engineering, fabrication, and field testing of a 100-kW pilot unit designed to deliver on-demand clean heat for an institutional building application.

“Canada needs secure, affordable and clean heat and power to serve industry, remote, and dual-use operations,”

said Hayden Smith, CEO of FeX Energy. “This support will help FeX accelerate rigorous R&D, safety validation, and third-party testing – key milestones on the path to a bankable, Canadian-built solution.”

Arc-S stores surplus renewable electricity in a closed iron/iron-oxide cycle and later releases heat up to ~900 °C. Unlike conventional batteries, Arc-S offers no self-discharge and sustained high-temperature over long durations, uses abundant, dense, non-toxic materials, and integrates with standard heat exchangers and other equipment. The NRC IRAP-supported project will focus on system performance, durability, and controls, with data gathered under cold-weather and industrially relevant duty cycles.

“This project strengthens a domestic supply chain – fabrication, controls, and field services – while creating high-quality technical roles in Canada,” added Smith. “It also lays the groundwork for first deployments in hard-to-abate sectors such as mining, district energy, and broader industry”.

About FeX Energy

FeX Energe is a Montréal-based clean-technology company developing ArcS, an iron-fuel, long-duration thermal energy storage platform for industrial process heat and remote/off-grid applications. FeX’s mission is to deliver dependable, high-temperature clean heat at competitive cost, supporting Canada’s net-zero objectives and enhancing energy resilience.

Media Contact Hayden Smith, CEO, FeX Energy fexenergy@outlook.com | www.fexenergy.com

Résumé en français

FeX Énergie reçoit des services-conseils et un financement pouvant atteindre 1,200,000 $ CA du PARI CNRC pour un projet de R-D visant à faire progresser Arc-S, une solution de stockage thermique de longue durée basée sur le fer. Le projet couvre l’ingénierie détaillée, la fabrication et les essais sur le terrain d’une unité pilote de 100 kW, conçue pour fournir une chaleur propre pour une application dans un bâtiment institutionnel.