MONTREAL, July 29, 2025 — FeX Energy, a Montreal-based clean energy startup developing cutting-edge long-duration energy storage, has been selected as one of the winners in Canada’s prestigious IDEaS NORAD Modernization Science & Technology contest. FeX was awarded a $1 million semi-finalist prize - the only energy storage technology selected among nearly 500 applicants - for its Iron Arc Reactor, a zero-carbon, high-density, deployable solution built for remote and Arctic environments.

FeX’s award-winning innovation directly addresses critical operational and logistical challenges faced by remote Canadian and allied military installations - where diesel fuel is currently the norm. These locations suffer from extreme costs (often exceeding $0.30/kWh), supply chain risks, and environmental hazards. The Iron Arc Reactor offers a rugged, containerized solution that integrates seamlessly with renewable energy to deliver dispatchable, resilient, and carbon-free energy year-round.

FeX will use the prize funding to accelerate the design and fabrication of its first full pilot unit: a 100-kW modular Iron Arc Reactor, to be deployed at NRCan’s CanmetENERGY campus in Canada. The pilot will be tested under simulated conditions to validate performance, durability, and integration with renewable systems. This milestone will advance the technology to TRL7, paving the way for field deployments and commercial scaling.

“We’re building the first energy storage solution that makes sense for the realities of Canada’s Arctic and remote industrial operations like mining,” said Hayden Smith, CEO of FeX Energy. He continued,

“By eliminating diesel fuel, we’re solving for cost, carbon, and logistics all at once - enabling resilience and self-sufficiency in defense and industrial sectors alike. We’re honored to have Canada’s Department of National Defense recognize our work, and we’re just getting started.”

The Iron Arc Reactor leverages an iron-based redox reaction to store renewable electricity in solid iron fuel. This stored energy is released as high-temperature heat or electricity on demand. The system targets:

• Energy density an order of magnitude greater than lithium-ion batteries,
• No parasitic losses, enabling seasonal storage,
• Inherent safety, with non-toxic materials, including abundant, affordable iron,
• A scalable architecture, designed for containerized deployment by land or sea.

According to a defense energy expert who participated in early scoping for the contest:

“A solution like FeX’s is exactly what's needed to displace diesel at remote military installations. The ability to minimize fuel shipments - which can require 7 liters of diesel to deliver 1 liter - ensure continuous power and heat, and enable modular deployment is not just a win for energy resilience - it’s a win for national security.”

This award validates FeX Energy’s potential to serve both defense and civilian markets. For example, applications such as remote mining represent a near-term addressable market exceeding US $39 billion with the potential to abate millions of tonnes of CO₂.

FeX is now advancing toward a final round of the NORAD S&T Challenge, which includes additional technical demonstrations and a potential grand prize to be announced in 2026.

About FeX Energy (15138671 Canada Inc.): a clean technology company pioneering iron-based long-duration energy storage for industrial heat and power. A spin-out from McGill University’s Alternative Fuels Lab and the venture studio Hard Climate, FeX aims to replace fossil fuels with a scalable, zero-carbon alternative for remote and industrial applications.

To learn more, visit: www.fexenergy.com

Media Contact: fexenergy@outlook.com