We are proud to announce that we have been awarded a project in partnership with Columbia University from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E) Pioneering Railroad, Oceanic and Plane Electrification with 1K energy storage systems (PROPEL-1K) program for our groundbreaking work on developing an aluminum battery and novel artificial intelligence electrolyte screening system.

ARPA-E has a long history at the forefront of innovation, and they are continuing to catalyze entire new industries with the PROPEL-1K program. We are excited to work with Columbia University to push the boundaries of battery technology and to contribute to the advancement of sustainable energy solutions.

Our goal at Wright is to decarbonize transportation with electric airplanes and ships. We recently announced that our industry-leading 2 megawatt (MW) powertrain achieved 43,000 ft of simulated altitude testing without partial discharge.

We launched our battery program in October 2023 after years of stealth development, and this ARPA-E award is the next step in our program. These proprietary batteries are designed to be 4x more energy dense than the lithium ion batteries that power today's electric vehicles. Such batteries would enable the electrification of hard-to-decarbonize transportation sectors, for example, electric aircraft with 100 passengers and container ships. Given that the vast majority of aerospace carbon emissions are in aircraft with 100 or more passengers, these batteries would enable a paradigm shift in decarbonization.

We are also happy to announce Wright's Automated Experimentation with Radical Electrochemical Systems (AERES) technology. This system uses a combination of systematic screening and open-source hardware to rapidly screen electrolytes for these batteries.

Wright's participation in the PROPEL-1K program will further support the development of these batteries.