ENEDYM

Enedym Inc. ( “Enedym”), the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, announced today that it has formed a strategic partnership with JFE Shoji Power Canada Inc., (“JFE Shoji Canada”), one of the largest providers of transformer cores, magnetic materials for electrical engineering applications, and electrical engineering support and design services in North America.

Under the terms of the partnership, JFE Shoji Canada, will be a key supplier of electrical steel for Enedym’s electric motors and powertrains. JFE Shoji Canada is part of the JFE Shoji Corporation (“JFE Shoji Corp”), a global supplier of electrical steel materials and products to the global auto industry and leading electric vehicle automakers like Rivian Automotive, Inc. through its world-wide motor core manufacturing and supply business in Mexico, India, China, Japan and Asia, with supportive ownership from JFE Holdings of Japan.

Dr. Ali Emadi, Founder, President, and CEO of Enedym commented, “We are very pleased to announce this partnership with JFE Shoji Canada. Not only will JFE Shoji Canada supply Enedym with critical electrical steel, but as partners we will focus on the strategic building of a secure global manufacturing supply chain to support the development of our sustainable next generation motor technology.”

Dr. Emadi added, “As Enedym gears up for high volume applications from a shift in transportation towards electrification and sustainable industrial applications requiring more efficient motors with faster time to market, lower cost, and greater reliability, our relationship with JFE Shoji Canada will be critical in providing our customers the secure and stable supply chain they need to deliver results to their customers and stakeholders.”

Ron Harper, CEO of JFE Shoji Canada, commented, “We are thrilled to announce this strategic partnership with Enedym. As we look at the automotive and industrial landscape, we see a need for transformational leadership that is intent on fostering future growth and societal change. In a hypercompetitive environment for supplies, parts, and people, trusted relationships among all industry players are essential. We look forward to working with Enedym to build capacity and develop broad manufacturing support where workforces can adapt in a way that retains and fulfills them in the future.”

About Enedym, Inc.

Enedym is a technology start-up company from McMaster University. The company is headquartered at the McMaster Innovation Park in Hamilton, Ontario, Canada. Enedym has ownership of over 50 patents and pending patent applications and related inventions developed by the Canada Excellence Research Chair in Hybrid Powertrain Dr. Ali Emadi and his research group at the McMaster Automotive Resource Centre (MARC), McMaster University. Enedym’s vision is to reduce the cost of electric propulsion motors significantly and power a new paradigm in the electric motor industry through novel switched reluctance motor (SRM) drive technologies. Enedym aspires to help save the planet, one electric motor market at a time. To learn more about Enedym, please visit www.enedym.com and our YouTube channel at Enedym YouTube .

About JFE Shoji Power Canada, Inc.

JFE Shoji Power Canada Inc. is one of the largest providers of transformer cores, magnetic materials for electrical engineering applications, and electrical engineering support and design services in North America. JFE Shoji Power Canada is part of the JFE Shoji Corporation, a supplier of electrical steel materials and products through its world-wide motor core manufacturing and supply operations in Mexico, India, China, Japan and Asia, with supportive ownership from JFE Holdings of Japan. JFE Shoji also collaborates with France r. bourgeois SA for the manufacturing of high technology magnetic motor cores solutions, including joint investments in Mexico and in China.

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