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ACE APPOINTS TOM MADDEN AS
CHIEF TECHNOLOGY OFFICER

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STUART, Fla., July 12, 2022 - Advanced Cell Engineering (ACE) announced today that it has hired Tom Madden as its Chief Technology Officer (CTO). Mr. Madden will oversee the continued development and deployment of ACE's Advanced LFP (lithium iron phosphate) chemistry, which will enable EV manufacturers to build vehicles offering greater range while maintaining the highest safety standards. ACE's Advanced LFP offers significantly higher energy density in any cell format than existing LFP offerings on the market today.

In addition to serving as Principle of Hartford, CT-based Madden Echem Consulting, Mr. Madden previously served as CTO for battery firms BenAn Energy and Aquion Energy as well as holding leadership positions with Sun Catalytics, Primus Power and UTC Power.

"Tom is a proven leader in developing and scaling innovative battery technologies," said ACE's president Tim Poor. "He's enjoyed a long and distinguished career leading technology and engineering teams with world class organizations and we're excited to have him push the boundaries of our battery technology. He's a vital addition to the ACE team and together, we look forward to bringing our Advanced LFP battery chemistry for electric vehicles to the market."

As Chief Technology Officer, Mr. Madden will also oversee the development and structuring of ACE's state-of-the-art laboratory due to be active in Q4 this year. Additionally, Mr. Madden is curating a team of internationally recognized scientists and engineers to continue to push ACE's roadmap of battery technologies well into the future.

"I am honored to join this team as Chief Technology Officer," said Madden. "Thanks to its next-generation battery cell technology, ACE is in a unique position to really change how automakers view LFP chemistries."

About Advanced Cell Engineering:

Advanced Cell Engineering develops and licenses advanced lithium-ion battery cell technologies for the electric vehicle industry. The higher energy density of ACE's Advanced LFP battery technology will transform the EV industry by offering significantly longer range in a safe, cost-effective cell. ACE's team leverages unparalleled experience in developing and commercializing innovative battery technologies.