Vortex Energy's Collaboration with the University of Alberta Receives MITACS/NSERC Funding of $1.08 Million

“Field Trial of Hydrogen Storage in Canadian Domal and Bedded Salts” has now received a total of $2.28 million in non-dilutive funding from Alberta Innovates, NRCan, NSERC and MITACS

VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company”) is pleased to announce its collaboration with the University of Alberta (“UofA”) on the research project titled “Assessing and optimizing hydrogen storage in Canadian domal and bedded salts" has received additional funding. The research project aims to improve hydrogen storage efficiency, safety, and scalability within Canada’s geological formations.

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The research project has received funding from the Natural Sciences and Engineering Research Council of Canada (NSERC) through the Alliance Missions Grants for Critical Minerals Research. NSERC has committed $720,000 of funding over a four-year period, which began on October 15, 2024. The research project has also received funding from MITACS Accelerate in a total amount of $360,000, which will be allocated to support salaries for interns and students involved in the research project. Vortex will closely collaborate with the UofA team by providing field data, samples, personnel time, and facilitating regular visits to its property in Newfoundland and Labrador.

"We’re excited to see this critical research move forward, as we believe that it has the potential to unlock safer and more efficient hydrogen storage options in Canada," said Paul Sparkes, CEO of Vortex Energy. “By supporting this project, Vortex hopes to assist in the advancement of sustainable energy infrastructure capable of paving the way for scalable, long-term energy solutions that can contribute to Canada’s clean energy future.”

Dr. Hassan Dehghanpour, Professor and Co-Director at the School of Petroleum Engineering and Senior Research Chair in Subsurface Energy Systems at the University of Alberta, commented, "This partnership among U of A, federal and provincial funding agencies, and industry partners across Canada has fostered a collaborative environment for training highly qualified personnel and advancing hydrogen storage science and technology from lab to field scales."

About Vortex Energy Corp.

Vortex Energy Corp. is a Canadian mineral exploration company focused on identifying and developing high-quality assets in North America. The Company is focused on leveraging its assets for salt mining, energy, and CO₂ cavern storage. The Company is holding a North American Salt project with multiple salt structures identified on the property with access to infrastructure.The Company is also currently advancing its Fire Eye Uranium Property in the Athabasca Basin, a region globally renowned for its uranium deposits.

For further information, investors are encouraged to review the Company’s filings available at www.sedar.com.

On Behalf of the Board of Directors

Paul SparkesCEO, Vortex Energy Corp.