Carbonix Receives Investment from the Ontario Government’s Critical Minerals Innovation Fund

PETERBOROUGH, ON – Carbonix Inc. announced today that the company received $475,000 CAD in non-diluted funding from Ontario’s Critical Minerals Innovation Fund that targets research and innovation to
build up the supply chain for the critical minerals sector. Carbonix is an Indigenous Canadian Clean Tech
Company specializing in the development of advanced materials and is pleased to strengthen its
partnership with Ontario to support the transition to the economy of the future.

Carbonix is developing opportunities where our technology and field activity management practices can
be applied to projects where Indigenous communities, industry, and government intersect on resource
extraction and environmental issues that impact people’s health and relationship with the natural
environment.

“The support made available from the Critical Minerals Innovation Fund is integral to Carbonix’s
commitment to help facilitate Ontario’s transition to a clean economy and a resilient manufacturing
sector.” said Paul Pede, President and CEO, Carbonix Inc.

Carbonix is supporting Ontario’s strategic advancement toward becoming a critical minerals processing
center, by developing battery materials required for the emerging electric vehicle (EV) revolution for the
manufacturing industry. Over the past 7 years, Carbonix has developed processes, products, and
intellectual property designed to support a low-carbon economy. Carbonix’s technological advances,
developed at Trent University, can accelerate Ontario’s transition into EV and component manufacturing
using locally and sustainably sourced high-carbon feedstocks, converting them into battery-grade
materials.

“At the Inorganic Materials Research Laboratory here at Trent, we are very excited for this opportunity
to continue our collaboration with Carbonix to develop cleantech materials,” said Dr. Andrew
Vreugdenhil, Professor of Chemistry, Trent University. “The area of critical minerals is so important for
Ontario to develop, and we are delighted to be able to play a part.”

This project will focus on refining the processes that enable the conversion of existing and available
mining waste, pet coke, and hydrogen production by-product amorphous carbons, into high-energy density graphite used in anode and cathode production.

“Our government is proud to invest $475,000 in the Indigenous Canadian company Carbonix, which
specializes in the development of advanced materials that we need for the technologies of tomorrow,”
said George Pirie, Minister of Mines. “This fantastic company is using innovative technology to convert existing and available mining waste, and other by-products, into graphite used in the production of
batteries and EVs. Investing in projects and companies like this one is another step closer to achieving
our goal of fueling the global EV revolution.”

“Carbonix is an outstanding Indigenous owned company that has a forward-thinking, strategic vision for
the future of resource development within the province,” said Greg Rickford, Minister of Indigenous
Affairs and Minister of Northern Development. “We are confident our government’s investment in
Carbonix will lead to substantial growth across key sectors in the North, while making significant
contributions to the EV supply chain across the province.”

“This collaboration is yet another example of Trent University being on the front lines of innovation in
the critical minerals space,” said Dave Smith, Member of Provincial Parliament for Peterborough-
Kawartha. “By partnering with an amazing Indigenous-owned company like Carbonix, Trent is making
Peterborough a vital part of the supply chain for the technologies of tomorrow including the EV
revolution.”

As an Indigenous company, Carbonix is continually helping to mitigate the effects of anthropogenic and
natural environmental impacts on air, water, and soils by the expansion of global innovative solutions
through the application of novel nano technologies. Our approach is to develop clean technology
solutions based on a circular economy that are designed to reduce environmental impacts. This method
is a hybrid approach of science and Indigenous customary practices that promote a safe, healthy, and
clean environment for all people.

About Carbonix
Carbonix is an Indigenous Canadian advanced materials company specializing in the development of
sustainable products that support the nation’s resource extraction industries and energy transition
strategies. Our manufacturer-direct model leverages our core strengths in advanced material
technologies, indigenous engagement, partnerships in the resource extraction industry, and end-user
customer requirements. Our products include adsorbents and flocculants engineered for recalcitrant
mining and oil sands applications through to battery materials such as carbon blacks and synthetic
graphite’s tailored for the EV, energy storage, and transportation industries. All our products are built
off our proprietary carbon scaffold platform, which economically and sustainably converts high carbon
content waste streams into high value-add products.