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Enoverra Secures Lead Investor For Its Newly Opened Seed Round For Transitioning From Shop to Field

Houston, TX, October 4 - Enoverra, a trailblazing technology company specializing in converting waste biomass into carbon-sequestering products, is delighted to announce the lead investor for its recently launched $1 million seed round, with additional co-investors participating. Sage Seed Capital, a seasoned early-stage technology investor headquartered in Vancouver, Canada, is taking the lead in this strategic investment. The round, already partially subscribed, is projected to conclude in early November. Over the past year, Enoverra has rigorously validated its processes, equipment, and the production of sustainable, carbon-sequestering products. In partnership with Advantek, a global leader in subsurface engineering and deep well injection facilities, the company is now actively transitioning from shop to field implementation of its Patent Pending DeepWell Reactor. Enoverra and Advantek have identified several available well sites in Texas, Kansas, and Saskatchewan and are working closely with stakeholders to pinpoint the ideal location for DeepWell Reactor 1. Leveraging our combined knowledge base, Enoverra and Advantek have

also identified joint patents which are being pursued.

The funds raised during this round will provide crucial support to establish a demonstration facility targeted to become operational in Q2 2024. This facility will process biomass material to create hydrochar suitable for soil improvement and cement enhancement while sequestering multiple tons of CO2 on a daily basis.

"Innovation and impact - these are the cornerstones of Sage's interests," remarks Leroy Banack, Managing Director. "The innovative DeepWell Reactor represents a scalable biomass conversion process essential for large-scale decarbonization efforts within a circular economy. Enoverra's experienced team gives us great confidence."

Mukesh Kapila, CEO of Enoverra, adds, "Our rigorous testing and modeling have demonstrated unrivaled energy and process efficiencies. We are eager to transition to the field to showcase the myriad benefits of our technology. We are exceptionally pleased with the early response to our fundraising efforts and the confidence expressed by Sage and our new co-investors, particularly in today's challenging environment. It underscores the robust momentum propelling scalable decarbonization technologies forward."

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