Quarterly Operations Update March 2024
Sydney, April 15, 2024 AEST (ABN Newswire) - The Directors of K2 Energy Limited (
NSX:KTE) ("K2") provide the following report for the quarter ended 31st March 2024.
K2 Energy's major activities during the quarter were its strategic investment in Atomera, Inc. ("Atomera").
ATOMERA, INC.
K2 Energy provided critical funding to Atomera, Inc. during its R & D development phase while they developed patentable technology for the silicon chip industry with energy saving and performance attributes. This funding converted into a significant interest in a NASDAQ listed corporation, being Atomera, Inc.
On 13th February 2024 Atomera gave an update with extracts from that announcement below.
"Revenue in the Fourth Quarter Resulting from MST Installation at Licensee LOS GATOS, CA / ACCESSWIRE / February 13, 2024 / Atomera Incorporated (NASDAQ:ATOM), a semiconductor materials and technology licensing company, today provided a corporate update and announced financial results for the fourth quarter and fiscal year ended December 31, 2023.
Recent Company Highlights
- Achieved revenue from commercial licensee for two milestones
- Second customer completed installation of MST technology
- Executed an MSTcad license with a large semiconductor manufacturer
Management Commentary
"There is clear evidence the company is executing on its strategy to commercialize MST. With our technology now installed at two customer fabs, we're focusing on moving additional customers along the engagement pipeline toward the royalty phase," said Scott Bibaud, President and CEO. "The semiconductor industry is currently in an ideal state to adopt new technology and the performance improvements enabled by MST are compelling to fabs and foundries seeking to gain cost-effective advantages in highly competitive markets."
About K2 Energy Limited
K2 Energy Limited (NSX:KTE) is currently involved in several major activities, being a Strategic Investor in Energy Saving Technology and Solar Energy. K2 Energy provided critical funding to Atomera, Inc. during its R & D development phase while they developed patentable technology for the silicon chip industry with energy saving and performance attributes. This funding converted into a significant interest in a NASDAQ listed corporation, being Atomera, Inc.
