Canadian company Cipher Neutron Inc. (“Cipher Neutron”, the “Company” or “CN”) is pleased to announce the appointment of Dr. Pierre Rivard to its Board of Directors, effective October 16, 2024.

About Dr. Pierre Rivard

Dr. Pierre Rivard has been a champion of cleaner and renewable energy for three decades, and a passionate supporter and developer of the energy technology industry. He has served as CEO, co-founder, chairman, board member, angel investor, advisor, and philanthropist for several innovative companies in California and Canada, including successful hydrogen fuel cell and electrolyser companies, as well as energy storage, wind, flywheel, electric vehicle, aerospace, waste management, and water treatment enterprises. He has also chaired national and regional industry and research associations. More recently, he served on Canada's Clean Technology Economic Strategy Table.

Dr. Rivard's successes include the launch and IPO of NASDAQ-listed hydrogen fuel cell company Hydrogenics Corporation, where, for 12 years, he served as founding President & CEO and later as Executive Chairman. At Hydrogenics, he built an award-winning, high-performance team that was recognized as Canada's fastest-growing company, which achieved the #1 spot on the Profit 100 list in 2003. Hydrogenics Corporation was later acquired by Cummins Inc. in 2019.

Dr. Rivard is currently the Executive Chairman and Co-Founder of TUGLIQ Energy Corp., a company focused on diversifying energy sources for Northern mining operations using renewable energy. He also serves on the Departmental Audit Committee of, and on Council of, the National Research Council. Additionally, Dr. Rivard dedicated 21 years of service to the Canadian Air Force.

Dr. Rivard holds a Doctor of Engineering degree from the University of Toronto (Honoris Causa, for lifetime achievements in clean technology), an MBA from Western University’s Ivey School of Business, and a Baccalaureate in Mechanical Engineering from Kingston's Royal Military College of Canada. He is a Professional Engineer licensed in Quebec and Ontario, and formerly in California and Norway.

Dr. Pierre Rivard, Director of Cipher Neutron, stated, “I am excited to join Cipher Neutron’s Board of Directors at such a pivotal moment for the company and the green hydrogen industry. Cipher Neutron’s innovative AEM electrolyser technology has the potential to transform the way green hydrogen is produced, and I look forward to contributing my experience to help accelerate its growth and impact. Together, we will drive forward the vision of a sustainable, decarbonized future.”

Gurjant Randhawa, President & CEO of Cipher Neutron, stated, “We are thrilled to welcome Pierre Rivard to Cipher Neutron’s Board of Directors. His unparalleled experience in the hydrogen industry, combined with his visionary leadership, will be invaluable as we scale our green hydrogen technologies. Pierre’s track record of innovation aligns perfectly with our mission, and we look forward to the great things we will achieve together.”

About Cipher Neutron Inc.

Cipher Neutron is a rapidly growing disruptive technology company focused on AEM Electrolysers for Green Hydrogen production and Reversible Fuel Cells for power generation and Energy Storage Solutions. Cipher Neutron is a global group of scientists, engineers, technology developers, experts in hydrogen technology, investment bankers and people that have worked in hydrogen for decades. Cipher Neutron’s innovative products, such as AEM Electrolysers and Reversible Fuel Cells have unique advantages over other Green Hydrogen production, power generation and energy storage solutions currently available in the global market. Please see: https://cipherneutron.com/

Forward-Looking Statements: This news release may contain forward-looking statements regarding future events, financial performance, or business strategies of Cipher Neutron Inc. These statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed or implied in possible forward-looking statements. Cipher Neutron Inc. undertakes no obligation to update or revise any such forward-looking statements, if any, whether as a result of new information, future events, or otherwise. Cipher Neutron Inc. reserves the right to modify, amend or update any information in this news release without prior notice. Cipher Neutron Inc. is not required and may not inform readers of any such changes or any updates to this news release to reflect subsequent developments.

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