VALLEY VIEW, Ohio, Oct. 7, 2021 — Peak Nanosystems has completed another round of funding to fuel growth in Optics and Specialty Films.

Peak Nanosystems, the parent company of Peak Nano Optics and Peak Nano Films, has closed another $25 million investment from Squadron Capital to fund larger scale production of optical lenses and developmental scale films for capacitors and specialty film applications. All applications are built on Peak’s proprietary nanolayer extrusion technology.

In 2016, Peak Nanosystems began a journey to commercialize GRIN optics. In a partnership and later acquisition of nanolayer process technology from PolymerPlus, Peak Nano Optics has continued to develop the technology for key military and industrial applications.

“We began our work in 2016 to build a company that would commercialize GRIN optics, and we have broadened the impact of that investment into our Peak Nano Films entity which gets us into high performance films markets,” said Jim Welsh, CEO of Peak Nanosystems. “This additional capital will allow us to scale the technology to fully realize the potential of the nanolayer technology across many market segments.”

Peak Nano Optics invested over $30 million in a development and production facility near Cleveland, Ohio, that was commissioned in Q4 2020. The first-of-its-kind Optics Foundry had its official Grand Opening in July 2021. It is the most advanced optical design and manufacturing facility in the world.

In addition, Peak Nano Films has made significant investments to scale up the nanolayer technology in capacitor films.

“We have recently commissioned a new capacitor development film line near Cleveland to support the 2021-2022 product launches, and we expect even more opportunities in specialty films using recycle,” said Chad Lewis, president of Peak Nanosystems.

“We are thankful for the team at Squadron Capital. Squadron’s unwavering commitment to our long-term success has been a significant advantage for our company and team,” said Lewis.

“Squadron is excited to provide support and partner with the team at Peak. We are confident their technical expertise and manufacturing processes will lead to the much broader use of this technology in both optical and electrical capacitance applications,” said Dave Pelizzon, President of Squadron Capital.

About Peak Nanosystems LLC

Peak Nanosystems is a turnkey commercialization engine for breakthrough nanotechnology, making disruption real in multiple markets. Our Peak Nano development philosophy streamlines the entire process, from nanotechnology research and innovation to rapid prototyping, manufacturing, and delivery.

Media Contact

Allison Gittings

agittings@peaknano.com

April 14, 2020 – Peak Nanosystems acquires Cleveland, Ohio-based PolymerPlus to venture into capacitors.

Peak Nanosystems, the parent company of Peak Nano Optics and Peak Nano Films, has closed a $25mm investment from Squadron Capital to fund the acquisition of Cleveland, Ohio-based PolymerPlus. Additionally, the company will use proceeds to expand in-house optical product development.

Prior to the acquisition, Peak Nanosystems had partnered with PolymerPlus to scale production of nanolayered films for high-performance gradient refractive index “GRIN” lenses to market through Peak Nano Optics to great success. “We began our partnership with PolymerPlus in 2016 to build a company that would commercialize GRIN optics,” said Jim Welsh, CEO of Peak Nanosystems. “This acquisition is the follow through on that effort and opens up the capacitor market for our thin film technology.”

Peak Nano Optics is currently building a $30mm production facility in Cleveland, Ohio that will come online in Q2 2020 and will be the most advanced optical design and manufacturing facility in the world when it opens.

Through this acquisition, Peak Nanosystems acquires exclusive rights on broad nanolayered film intellectual property developed at Case Western Reserve University, as well as in-house technology developed by PolymerPlus. for both optics and film capacitors. “These capacitors are ready for broad scale launch so we are building new production lines in Cleveland to support the 2021 product launches,” said Chad Lewis, president of Peak Nanosystems.

“We have a great relationship with the Case Western Reserve University tech transfer office,” said Lewis. “We worked closely with their team on past deals and again now with the acquisition of PolymerPlus. We are also thankful for the team at Squadron Capital. We met with a large number of potential institutional partners due to our success in optics over the past year. Squadron’s unwavering commitment to our long-term success combined with their steady in-the-storm mentality is certainly rare, and we are excited about the growth they will enable,” said Lewis.

“Squadron is excited to provide support and partner with the team at Peak. We are confident their technical expertise and manufacturing processes will lead to the much broader use of this technology in both optical and electrical capacitance applications. It is also likely there are significant possibilities to integrate this technology into medical devices,” said Dave Pelizzon, president of Squadron Capital.

About Peak Nanosystems LLC

Nanotechnology can push the performance of commercial products well beyond what conventional wisdom says is possible, but until Peak Nano, much of its potential was unrealized. We’re a turnkey commercialization engine for breakthrough nanotechnology, making disruption real in multiple markets. Our Peak Nano system streamlines the entire process, from nanotechnology research and innovation to rapid prototyping, manufacturing, capital, executive leadership, and distribution. For more information, please visit peaknano.com.

Media Contact

Allison Gittings

agittings@peaknano.com

Breakthrough Nanolayer Polymer Films Engineered for Demanding Fusion, Defense, and Energy Grid Systems Help Establish the Nation’s Capacitor Film Supply Chain

Valley View, OH — November 12, 2025 — Peak Nano, a pioneer in polymer nanoscale metamaterials for capacitor films, specialty films, and optics, today announced two new U.S. patents that significantly advance dielectric film technology for applications across the power grid, electric vehicles, fusion energy, aerospace, packaging, and defense. To strengthen U.S. supply chains, Peak Nano is rapidly advancing this technology in the first domestic facility for polymer capacitor film production.

The Ohio-based plant will produce both Peak’s patented high-temperature Nanoplex™ films and the industry-leading biaxially oriented polypropylene (BOPP) films, currently only available overseas. With this capability, Peak will become the nation's sole source for domestically manufactured BOPP, expanding access to critical infrastructure upgrades. This advanced portfolio of polymer films is designed to meet growing demand and ensure a dependable supply for grid, transportation, pulsed power, defense, and emerging fusion applications.

The first patent, #US12427754B2, protects Peak Nano’s corona-treated multilayered HDC (High Dielectric Constant) film, which features surface modifications optimized for metallization, tighter winding, and seamless integration in wound metallized capacitors. This precision nanolayer architecture enables four times higher energy density and greater stability than current state-of-the-art BOPP, allowing engineers to design capacitor banks that are up to two times smaller, reducing both cost and system complexity.

A second patent, #US12119180B2, covers Peak Nano’s LDF (Low Dissipation Factor) film, an ultra-low-loss, high-temperature capacitor film. With a 50% lower dissipation factor than traditional BOPP film, LDF minimizes self-heating and thermal stress and extends capacitor lifecycles by up to five times. It also maintains full energy capacity up to 135°C without derating, far beyond the 85°C limit of industry-standard BOPP. This reduces the need for cooling infrastructure and capacitor redundancy and ensures exceptional reliability in power-intensive environments like fusion reactors, data centers, and defense.

“Through rigorous third-party validation, these patents demonstrate a generational leap forward in capacitor film design,” said Dr. Michael Ponting, Chief Science Officer at Peak Nano. “With innovative polymer architecture at the nanoscale, our technologies eliminate the key shortcomings of legacy materials. This results in films that provide unparalleled energy storage, operational longevity, and durability, allowing customers to do more in a smaller footprint.”

With China filing more patents for grid technology than any other country, Peak Nano’s new patents represent a vital step forward in U.S. scientific innovation and energy leadership. With its expanded IP portfolio, the company aims to foster new licensing and co-development opportunities, giving OEMs, system integrators, and public-sector buyers greater confidence to explore, pilot, and validate U.S.-made alternatives.

Now, with over 20 global patents and commercialization scheduled for early 2026, Peak Nano’s leadership in advanced metamaterials will unlock a new class of high‑performance, high‑temperature capacitors, advancing U.S. energy independence, future-proofing America’s power grid, and strengthening national security.

About Peak Nano

Established in 2016 to bring patented nanotechnology from the laboratory to commercial applications, Peak Nano is tackling challenges across the power grid, fusion, electric vehicles, aerospace, and defense. With AI-powered design and advanced nanolayered technology, Peak Nano’s drop-in-ready, industry-disrupting solutions dramatically boost systems’ performance. Our NanoPlex™ technology for films and optics—protected by 20+ global patents—is fully designed, engineered, and manufactured in the U.S. with a secure supply chain from allied nations, reducing dependence on foreign supply chains. These purpose-built nanolayered solutions enable breakthroughs across critical industries—strengthening American energy independence, leadership, and national security.

Media Contact:

Allison Gittings

Director of Communications, Peak Nano

301-646-3265

Greater Akron Polymer Innovation Hub backs Ohio‑based company engineering nanolayer films that cut microplastic waste and advance innovation across industries.

VALLEY VIEW, OH – February 12, 2026 – Peak Nano today announced a new development program to create first-of-its-kind nanolayered biodegradable multilayer polymer films for food, beverage, and medical packaging. Supported by R&D funding from the Greater Akron Polymer Innovation Hub, Peak Nano is leveraging its patented NanoPlex™ metamaterials technology to design an advanced, sustainable alternative to these barrier films without impacting performance.

Selected through a competitive process that reviewed more than 40 proposals from across the region, Peak Nano’s project is one of eight receiving Innovation Hub support. It targets to replace traditional multilayer packaging film, which can contain many tightly bonded layers of polymers and additives that are difficult or impossible to recycle. These materials fragment over time, shedding micro‑ and nanoparticles into soils, waterways, and the broader environment. Peak Nano’s high‑performance barrier films are designed for distinct performance advantages in demanding food and medical applications, protecting product quality and safety, and are engineered for biodegradability over time.

Peak Nano’s NanoPlex technology, developed at Case Western Reserve University with leading polymer scientists like Eric Baer and Lei Zhu, professors of macromolecular science & engineering, enables the creation of films containing thousands of precisely controlled polymer layers, as opposed to melted blends. This makes it possible to combine several polymer characteristics in one material, almost like a circuit board, creating unprecedented control over properties like atmospherics, molecular permeability, biodegradability, conductivity, and insulation. The nanolayer coextrusion and biaxial orientation processes also boost oxygen and water‑vapor resistance, improving durability so the films can withstand real‑world converting and packaging operations without contributing to long‑term microplastic waste.

“With NanoPlex™, we can create nano‑layers that let us dial in characteristics like barrier performance, mechanical strength, and even degradability,” said Dr. Michael Ponting, Chief Scientific Officer at Peak Nano. “This lets us tackle one of the toughest problems in packaging. We can now design biodegradable nanolayer structures that give converters the barrier and mechanical properties they need, with a much better end‑of‑life story.”

Peak Nano’s project is part of a broader slate of Innovation Hub-funded initiatives in biobased materials, recyclable packaging, eco‑polymer platforms, and performance materials. The Hub, powered by the Polymer Industry Cluster and the Greater Akron Chamber, is deploying a $42 million Innovation Hubs award and matching funds over four years to advance shared R&D priorities, stand up a polymer pilot facility, and support startups and scaleups bringing sustainable polymer solutions to market.

“The Polymer Industry Cluster was created to tackle shared problems that no single company can solve,” said Hans Dorfi, Executive Director and Chief Innovation Officer, Polymer Industry Cluster. “Peak Nano’s films show how we can align world‑class materials science with our region’s deep expertise in polymer science and advanced manufacturing to address global environmental challenges and create new economic opportunities here at home.”

In the current phase, Peak Nano and its partners will produce prototype biodegradable nanolayer film systems and evaluate them on commercial equipment used for food and medical packaging. Subsequent phases include biodegradability testing, cost and scale‑up modeling, and a commercialization roadmap for supplying nanolayered biodegradable films to brand owners and converters at scale. Peak Nano expects to leverage both its Ohio manufacturing footprint and regional partners to bring these materials into broader commercial use.

“This collaboration is about turning leadership in advanced materials into commercial reality with regional economic impact,” said Jean-Claude Kihn, former CTO of The Goodyear Tire and Rubber Company and Co-Chair of the Hub’s Innovation & Commercialization Committee. “By backing Peak Nano’s technology and scale‑up in Ohio, we’re helping translate the state’s century‑long polymer heritage into next‑generation sustainable materials and high‑value jobs."

About Peak Nano

Established in 2016 to bring patented nanotechnology from the laboratory to commercial applications, Peak Nano is tackling challenges across the power grid, fusion, electric vehicles, aerospace, and defense. With AI-powered design and advanced nanolayered technology, Peak Nano’s drop-in-ready, industry-disrupting solutions dramatically boost systems’ performance.

Our NanoPlex™ technology for films and optics—protected by 20+ global patents—is fully designed, engineered, and manufactured in the U.S. with a secure supply chain from allied nations, reducing dependence on foreign supply chains. These purpose-built nanolayered solutions enable breakthroughs across critical industries—strengthening American energy independence, leadership, and national security.

About the Polymer Industry Cluster and Greater Akron Polymer Innovation Hub

The Polymer Industry Cluster (PIC) is an industry‑driven consortium powered by the Greater Akron Chamber that addresses shared polymer challenges requiring collaborative action and open innovation. With more than 50 member organizations across the polymer value chain, the PIC is working to drive collective problem-solving along with talent attraction, job creation, and economic growth in Northeast Ohio.

The Greater Akron Polymer Innovation Hub, supported by a $31.3 million award from the State of Ohio and $10.4 million in local matching funds, invests in polymer pilot facility, industry‑driven R&D, startup support, and workforce development, with a focus on ensuring circularity of chemicals, plastics, and elastomers. It aims to position the region as a national leader powering strong, sustainable growth, supply chain resilience, and world-class innovation in sustainable polymers and advanced materials.

Media Contact:

Allison Gittings

Director of Communications, Peak Nano

New precision nanolayer platform engineers breakthrough barrier, dielectric, and mechanical performance for medical, food and beverage packaging, power systems, and defense.

VALLEY VIEW, OH — February 23, 2026 — Peak Nano, a pioneer in polymer metamaterials for capacitor films, packaging, and other demanding applications, today launched NanoPlex™ Films as a Service (FaaS). This vertically integrated design, prototyping, and low-rate manufacturing platform leverages Peak’s 60+ years of nanolayer systems formulation and processing expertise, combined with its patented NanoPlex technology, to rapidly develop custom, high-performance films for medical applications, food and beverage packaging, power systems, electronics, aerospace, defense, and industrial markets.

FaaS provides direct access to Peak Nano's world-class materials science team and cross-industry expertise to create novel solutions without the costs, risks, or multi-year timelines of new polymer development.

Why Nanolayered Films Change Everything

The performance of traditional polymer films is limited by the properties of single resins and simple blends. Peak's NanoPlex technology overcomes these limitations by precisely stacking dozens to thousands of ultra-thin polymer layers.

"For decades, advancing film performance meant waiting for polymer manufacturers to invent the next resin. That can take a decade and cost billions," said Jim Welsh, CEO of Peak Nano. "With Films as a Service, we've eliminated that bottleneck. We can rapidly develop and deliver new film capabilities from commercially available polymers by dialing in on nanolayered architectures. Customers get breakthrough performance in weeks, not years, and at a fraction of the cost."

Peak’s robust engineering platform and nanolayering process expose the unique nanoscale properties of proven polyolefins, polyesters, nylons, elastomers, and composites, including how polymer chains are confined and form new interfaces. Nanolayering results in distinct crystallinity, mobility, and morphology compared to the bulk material, dramatically shifting barrier, mechanical, optical, and dielectric properties. By precisely controlling layer thickness, sequence, and composition, these properties can be fine-tuned and optimized in ways not possible with conventional single-layer or blended films.

"With NanoPlex, we give customers nanoscale control over light, gas barrier, material tensile strength, thermal management, electricity storage, and insulation," said Dr. Michael Ponting, Chief Scientific Officer at Peak Nano. "By combining standard polymers in nanolayered configurations, we unlock synergistic interface effects that multiply performance, enabling entirely new film capabilities without waiting for new chemistry."

A New Model for Film Innovation

FaaS offers end-to-end services, from initial design concept through prototype validation to full technical transfer packages for commercial scale-up. Services include:

- Requirements & Rheology Analysis - Tailored materials research and nanolayered architecture design based on application requirements, whether barrier, dielectric, optical, mechanical, or thermal.

- Rapid Prototyping & Sample Development - Working nanolayer film prototypes composed of proven, commercially available polymers, delivered in as few as 6–10 weeks.

- Testing, Validation, & Optimization - Rigorous in-house and third-party testing across all critical parameters, with iterative design refinement to meet or exceed customer success criteria.

- Technical Package & IP Licensing - Comprehensive documentation including architecture specs, processing conditions, material sourcing, and IP/licensing—everything needed to move from lab to production.

- Manufacturing & Scale-Up Support - Seamless support for the transition to commercial production, whether customers outsource to Peak, use a third-party contract manufacturer, or manufacture in-house.

Key advantages include:

- No Polymer Waiting Game - Engineer new capabilities using off-the-shelf materials, eliminating years of resin R&D and regulatory qualification.

- Dramatic Cost Reduction - Replace expensive specialty resins with smarter nanolayered structures built from affordable commercial polymers, saving millions in BOM costs across high-volume production.

- Sustainability by Design - Enable downgauging, mono-material recyclability, and simplified film structures with a higher proportion of recycled content.

- Extensive Customization - Nearly infinite design freedom through control of layer count, order, thickness, and composition.

Application-Specific NanoPlex Formulations

FaaS serves customers in the most demanding and innovation-driven markets, including:

- Medical, Healthcare, & Pharma - Ultra-high barrier, sterilizable, and biocompatible packaging films

- Electrical - Advanced dielectric, EMI shielding, and energy storage films

- Food & Beverage Packaging - Recyclable barrier films with extended shelf life

- Aerospace & Defense - Mission-specific lightweight, optical, thermal, and tough protective films and composites

- Automotive - Compact capacitor films, thermal management, and lightweight composites

- Industrial & Energy - Filtration, insulation, and specialty high-temperature capacitor films

Built on a Foundation of Innovation

Peak Nano's Films as a Service platform is backed by the company’s portfolio of 20+ global patents, its U.S.-based manufacturing facility in Valley View, Ohio, and a team of world-class polymer scientists, engineers, and commercialization experts. The company's NanoPlex films have been validated through rigorous third-party testing and real-world trials across capacitor, packaging, and defense applications.

Availability

FaaS is available now. Companies interested in exploring custom film development can schedule a discovery call or request a capabilities sheet at https://www.peaknano.com/peak-nanoplex-technology-center.

About Peak Nano

Established in 2016 to bring patented nanotechnology from the laboratory to commercial applications, Peak Nano is tackling challenges across the power grid, fusion, electric vehicles, aerospace, and defense. With AI-powered design and advanced nanolayered technology, Peak Nano’s drop-in-ready, industry-disrupting solutions dramatically boost systems’ performance.

Our NanoPlex™ films technology, protected by 20+ global patents, is designed and engineered in the U.S., with a secure supply chain from allied nations, reducing dependence on foreign suppliers. These purpose-built nanolayered solutions enable breakthroughs across critical industries, strengthening American energy independence, leadership, and national security.

Media Contact:

Allison Gittings

Director of Communications, Peak Nano

agittings@peaknano.com

U.S.-Manufactured NanoPlex™ HDC dielectric film to enable next-generation pulsed power systems for fusion energy, aerospace, aviation, and grid modernization.

VALLEY VIEW, OH – March 11, 2026 – Peak Nano today announced a strategic partnership with E&P Technologies to co-develop next-generation high-energy-density capacitors powered by Peak Nano’s NanoPlex™ HDC dielectric platform. The collaboration will accelerate capacitor performance beyond the limits of conventional polymer film dielectrics while advancing a resilient, U.S.-based supply chain for fusion energy and critical power infrastructure.

E&P Technologies has selected Peak Nano’s NanoPlex HDC as the foundation for a new class of high-energy, high-reliability capacitors designed for fusion drivers, capable of million-shot duty cycles for pulsed power systems, and demanding aerospace and aviation environments.

Peak Nano’s NanoPlex HDC films are engineered by arranging multiple polymers in precise nanoscale configurations to activate new electrical, thermal, mechanical, and high-duty cycle performance. Compared to traditional polymer dielectric films, NanoPlex delivers higher energy density, improved thermal stability, and enhanced electrical reliability—capabilities essential for next-generation fusion, defense, and advanced power applications.

“Fusion is on track to become a trillion-dollar supply chain opportunity by 2050, and capacitors are one of the critical components that will determine how fast the industry can scale,” said Jim Welsh, CEO of Peak Nano. “By partnering with E&P, we’re bringing U.S.-manufactured advanced capacitor films into qualified, high-performance hardware—significantly reducing time to market while strengthening the American industrial base for fusion and next-generation power systems.”

This partnership tightly integrates Peak Nano’s breakthrough materials innovation with E&P Technologies’ automated manufacturing, qualification, and productization expertise, enabling rapid prototyping and validation testing that significantly shortens development cycles from concept to hardware-ready deployment.

“This partnership unlocks next-generation performance that isn’t achievable with conventional materials,” said Caroline Sorrick, CEO of E&P Technologies. “Our team brings deep experience designing and qualifying pulsed power systems for demanding fusion and aerospace applications, including work with Xcimer and Blue Origin. Combined with Peak Nano’s breakthrough dielectric materials, this collaboration will help accelerate the development of qualified, manufacturable capacitor solutions for next-generation power systems.”

Supporting National Priorities in Domestic Manufacturing and Grid Resilience

The partnership aligns with a growing U.S. policy focus on strengthening domestic manufacturing capacity for critical energy components. Recent FY26 appropriations language has explicitly directed continued support for U.S.-based production of nanolayer capacitor film to reduce reliance on foreign suppliers and strengthen industrial base capacity.

Industry leaders have similarly emphasized the importance of domestic component manufacturing as fusion progresses toward commercial deployment.

“Building resilient domestic capacity for critical components like capacitors is essential if the United States is going to lead in fusion energy,” said Andrew Holland, CEO of the Fusion Industry Association. “This partnership is a strong example of how innovative materials companies and specialized manufacturers can close key gaps across the industry to enable fusion to scale.”

In parallel, Executive Orders 14005 and 14017 emphasize increased domestic content requirements and secure supply chains for technologies vital to national and economic security. Emerging federal initiatives, including proposed Fusion Manufacturing Parity Act provisions and the expansion of 45X advanced manufacturing tax credits, further underscore the importance of building U.S.-based production capabilities for the components that will enable fusion deployment at scale.

Peak Nano and E&P’s collaboration directly supports these objectives by pairing advanced dielectric film innovation with domestic manufacturing and qualification, helping accelerate the availability of fusion-grade capacitors while reinforcing the American industrial base.

Beyond fusion, high-performance capacitors are also foundational to power grid modernization, including the deployment of grid-enhancing technologies (GETs) that enable operators to increase transmission capacity and reliability using existing infrastructure.

Building a Long-Term Platform for Next-Generation Capacitor Infrastructure

Peak Nano and E&P Technologies are establishing a long-term platform for co-developing future capacitor architectures aligned with evolving customer requirements and next-generation manufacturing automation strategies. This foundation will support a pipeline of high-performance products for fusion energy, aerospace, aviation, defense, grid infrastructure, and other demanding applications—delivering compact, reliable energy storage systems manufactured entirely in the United States.

About Peak Nano

Established in 2016 to bring patented nanotechnology from the laboratory to commercial applications, Peak Nano is tackling challenges across the power grid, fusion, electric vehicles, aerospace, and defense. With AI-powered design and advanced nanolayered technology, Peak Nano’s drop-in-ready, industry-disrupting solutions dramatically boost systems’ performance.

Our NanoPlex™ films technology, protected by 20+ global patents, is designed and engineered in the U.S., with a secure supply chain from allied nations, reducing dependence on foreign suppliers. These purpose-built nanolayered solutions enable breakthroughs across critical industries, strengthening American energy independence, leadership, and national security.

About E&P Technologies

E&P Technologies is a U.S.-based engineering and manufacturing firm specializing in pulsed power systems, high‑reliability capacitors, and advanced power electronics for defense, aerospace, and fusion applications. E&P integrates materials, design, and automated manufacturing to deliver system‑ready hardware that meets demanding operational requirements.

Media Contact:

Allison Gittings

Director of Communications, Peak Nano

The two companies unite Peak’s NanoPlex™ LDF film and Advanced Conversion’s Power Ring platform to unlock the full performance potential of SiC-based inverters across high-voltage e-mobility.

VALLEY VIEW, OH – March 31, 2026 – Peak Nano today announced a strategic partnership with Advanced Conversion (a wholly owned subsidiary of ETI of Clearwater, Florida) to co-develop next-generation DC-link capacitor solutions for high-voltage e-mobility applications, with an initial focus on high-performance and commercial platforms including Formula E and performance automotive, electric buses and heavy trucks, off-highway and industrial vehicles, and electrified aviation.

The 800V+ Shift Is Rewriting the Rules for Power Electronics

The shift to 800V+ power architectures was supposed to unlock the next generation of EV performance, charging speed, and electrified aviation. Instead, engineers keep running into the same wall: DC-link capacitors that weren't designed for the high currents, thermal loads, switching speeds, and voltage stress that Silicon Carbide (SiC) MOSFETs demand. The workarounds (derating capacitors, oversizing the DC link, adding cooling infrastructure) are expensive, weight-restrictive, and space-consuming, and they undermine the efficiency gains SiC was designed to deliver.

"SiC has fundamentally changed what the DC link must deliver, and the industry has been working around legacy polypropylene limitations for too long. Engineers designing 800V+ inverter systems shouldn't have to derate, oversize, or add cooling just so their capacitors can keep up,” said Edward Sawyer, CEO of Advanced Power Conversion Solutions. “NanoPlex LDF also serves as a direct replacement for polyester-based films where the supply chain has become constrained — we're already seeing strong adoption across our customer base. Partnering with Peak Nano gives us the film technology to match the ambition of our Power Ring platform. Together, we're delivering a DC-link solution purpose-built for 800V SiC inverters and geometrically aligned to integrate directly with motor housings."

A Ground-Up Solution: Power Ring + NanoPlex LDF

This partnership brings together two technologies purpose-built for the 800V+ shift. Peak Nano’s patented NanoPlex LDF film design delivers thermal stability and voltage endurance that 800V+ SiC systems require, without the derating penalties that constrain biaxially oriented polypropylene (BOPP) based designs. Advanced Conversion's patented Power Ring platform provides ultra-low commutation loop inductance and superior thermal coupling, enabling fast-switching SiC modules to operate at their full potential in compact, high-heat environments.

Together, they close a critical gap in high-voltage inverter design that neither company could address alone.

"NanoPlex LDF was built for exactly the environment that high-voltage SiC inverters create — high temperature, high frequency, high electrical stress, with no room for derating. Advanced Conversion's Power Ring architecture is the integration platform that can translate that film capability into a complete, optimized system,” said Jim Welsh, CEO Of Peak Nano. “This partnership puts the right film and the right manufacturing platform together for the first time, and the products we are developing together will set a new benchmark for DC-link performance in e-mobility on land, sea, and air."

A Domestic, Allied Supply Chain for High-Voltage E-Mobility

NanoPlex LDF is engineered and manufactured domestically. Combined with Advanced Conversion's U.S.-based manufacturing, this partnership delivers one of the few fully domestic, allied-supply-chain DC-link solutions for high-voltage e-mobility, supporting OEMs and Tier 1s looking to de-risk their supply chains while aligning with onshoring and nearshoring priorities in the EV, power electronics, and defense and national security sectors.

Engineering teams from both companies are developing joint products now, with initial releases slated for late 2026. This partnership is structured for long-term co-development across passenger EVs, commercial vehicles, off-highway platforms, electrified aviation, and DC fast-charging infrastructure.

Program managers and engineers are invited to contact Advanced Conversion or Peak Nano to discuss early access and evaluation opportunities.

Advanced Conversion: www.advanced-conversion.com

Peak Nano Films: www.peaknano.com

About Peak Nano

Established in 2016 to bring patented nanotechnology from the laboratory to commercial applications, Peak Nano is tackling challenges across the power grid, fusion, electric vehicles, aerospace, and defense. With AI-powered design and advanced nanolayered technology, Peak Nano’s drop-in-ready, industry-disrupting solutions dramatically boost systems’ performance.

Our NanoPlex™ films technology, protected by 20+ global patents, is designed and engineered in the U.S., with a secure supply chain from allied nations, reducing dependence on foreign suppliers. These purpose-built nanolayered solutions enable breakthroughs across critical industries, strengthening American energy independence, leadership, and national security.

About Advanced Conversion

Advanced Power Conversion Solutions Inc (Advanced Conversion) is a wholly owned subsidiary of Electro Technik Industries Inc (ETI) of Clearwater, Florida. Advanced Conversion designs and manufactures advanced DC-link integration solutions for high-voltage power electronics. The company’s patented Power Ring platform delivers ultra-low commutation loop inductance and superior thermal performance, enabling SiC-based inverter systems to operate at their full potential across e-mobility, industrial, and electrified aviation applications. Advanced Conversion and its sister company, Arizona Capacitors, have four facilities manufacturing leading-edge capacitor solutions for industry. For more information: www.advanced-conversion.com

Media Contact:

Allison Gittings

Director of Communications, Peak Nano

Advanced Conversion selects Peak Nano’s NanoPlex™ LDF film for its DC-link capacitors, eliminating the thermal and derating compromises that have constrained Silicon Carbide inverter system designs.

VALLEY VIEW, OH — [June 16, 2026] — Advanced Conversion, a wholly owned subsidiary of Electro Technik Industries (ETI) of Clearwater, Florida, has selected Peak Nano’s NanoPlex™ LDF film as the dielectric foundation for its new HP Drive Test Kit: a DC-link inverter solution engineered for 800V+ Silicon Carbide (SiC) power electronics. The result is one of the first fully domestic DC-link solutions for high-voltage e-mobility. This selection validates that NanoPlex LDF is the dielectric of choice for the inverters powering next-generation high-performance and commercial EV platforms, including Formula E and performance automotive, electric buses and heavy trucks, off-highway and industrial vehicles, and electrified aviation.

The 800V+ Transition Has Outpaced the DC-Link

The shift to 800V+ architectures and SiC switching promised a step change in EV performance and charging speed, and it has changed what every component in the inverter must deliver. SiC devices switch faster, run hotter, and operate at higher voltages than conventional DC-link films were built to serve. With traditional films, designers are forced to add film and capacitance, oversize the assembly, and invest in additional cooling infrastructure to meet reliability targets. Overbuilding undermines the efficiency gains SiC was meant to unlock; NanoPlex LDF eliminates that need.

“When we built a DC link that could keep pace with 800V+ SiC, we needed a film partner who could provide both the thermal margin and a supply we could count on… and Peak Nano delivered on both,” said Edward Sawyer, CEO of Advanced Power Conversion Solutions. “As traditional film supply has tightened, NanoPlex LDF gives us a high-performance, domestically sourced alternative that our customers can qualify with confidence. For where high-voltage e-mobility and grid-connected applications are heading, it’s the right material from the right partner.”

Built on Advanced Conversion’s patented Power Ring DC-link integration platform, which delivers ultra-low loop inductance and superior thermal coupling in a geometry that integrates directly with motor housings, these customized solutions meet 800V+ SiC requirements without the workarounds constraining legacy designs.

Engineered using an advanced nanolayer polymer architecture, NanoPlex LDF maintains charge stability at elevated temperatures, holding 95% of room-temperature breakdown strength at 135°C and enabling 25% higher current handling than traditional film at the same voltage and temperature, without derating. That 50° thermal margin lets capacitors sit directly adjacent to hot SiC modules without a thermal buffer.

Designers can now choose between two wins, rather than a forced compromise: Use less film to shrink capacitor size and cost, or hold the same film volume and capture a higher voltage rating within the same footprint.

“The market moved to 800V and Silicon Carbide faster than DC-link components could follow. That gap has forced real trade-offs in size, weight, and cooling,” said Jim Welsh, CEO of Peak Nano. “We engineered NanoPlex LDF to close that gap so the capacitor is no longer the limiting factor. Having Advanced Conversion design it into a next-generation 800V+ platform is a strong signal that the technology is ready for the applications that need it most.”

A Domestic, Allied Supply Chain for High-Voltage E-Mobility

The conventional capacitor film supply chain is heavily concentrated outside the U.S. NanoPlex LDF is designed and engineered domestically, offering a high-performance U.S.-based alternative. Combined with Advanced Conversion’s domestic manufacturing, this solution supports OEMs and Tier 1s looking to de-risk their supply chains while aligning with onshoring and nearshoring priorities across the EV, power electronics, and defense and national security sectors.

Webinar and Evaluation Opportunities

Peak Nano will share more about this technology and application during a webinar with ChargedEVs on Wednesday, June 17th at 11:00 a.m. ET. Engineering leaders will cover how NanoPlex LDF tackles the thermal, electrical, and packaging challenges of 800V+ SiC inverters. Register here.

Advanced Conversion has developed a test kit that will enable design engineers to directly evaluate NanoPlex LDF performance with their inverter module of choice. Interested parties can contact Advanced Conversion for availability and pricing. Program managers and engineers seeking early access and evaluation opportunities can reach out to either Advanced Conversion or Peak Nano.

Advanced Conversion: www.advanced-conversion.com

Peak Nano Films: www.peaknano.com

Media Contact

Allison Gittings

Director of Communications, Peak Nano

About Peak Nano

Established in 2016 to bring patented nanotechnology from the laboratory to commercial applications, Peak Nano is tackling challenges across the power grid, fusion, electric vehicles, aerospace, and defense. With AI-powered design and advanced nanolayered technology, Peak Nano’s drop-in-ready, industry-disrupting solutions dramatically boost systems’ performance.

Our NanoPlex™ films technology, protected by 20+ global patents, is designed and engineered in the U.S., with a secure supply chain from allied nations, reducing dependence on foreign suppliers. These purpose-built nanolayered solutions enable breakthroughs across critical industries, strengthening American energy independence, leadership, and national security.

About Advanced Conversion

Advanced Power Conversion Solutions Inc (Advanced Conversion) is a wholly owned subsidiary of Electro Technik Industries Inc (ETI) of Clearwater, Florida. Advanced Conversion designs and manufactures advanced DC-link integration solutions for high-voltage power electronics. The company’s patented Power Ring platform delivers ultra-low commutation loop inductance and superior thermal performance, enabling SiC-based inverter systems to operate at their full potential across e-mobility, industrial, and electrified aviation applications. Advanced Conversion and its sister company, Arizona Capacitors, have four facilities manufacturing leading-edge capacitor solutions for industry.

Vaalco Energy, Inc. Declares Second Quarter 2026 Dividend

HOUSTON, May 07, 2026 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today announced that it declared its quarterly cash dividend of $0.0625 per share of common stock for the second quarter of 2026 ($0.25 annualized), which is payable on June 26, 2026, to stockholders of record at the close of business on May 22, 2026. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are pleased to announce our second quarter 2026 dividend, our 18th consecutive quarterly dividend. We have an active capital program across our portfolio of high-quality, strong cash generating assets and remain committed to investing in future growth, while also providing a meaningful and sustainable return to our shareholders through our quarterly dividend.”

About Vaalco

Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea and Nigeria.

Vaalco's Legal Entity Identifier (LEI) is 549300CFHFVIWB8M6T24.

For Further Information

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws(collectively, “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iii) expectations regarding future acquisitions, investments or divestitures; (iv) expectations of future dividends; (v) expectations of future balance sheet strength; and (vii) expectations of future equity and enterprise value.

Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s most recent Annual Report on Form 10-K.

Dividends beyond the second quarter of 2026 have not yet been approved or declared by the Board of Directors. The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Vaalco’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, crude oil and natural gas prices, and other factors deemed relevant by the Board of Directors. The Board of Directors reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on Vaalco’s common stock, the Board of Directors may revise or terminate the payment level at any time without prior notice.

Any forward-looking statement made by Vaalco in this press release is based only on information currently available to Vaalco and speaks only as of the date on which it is made. Except as may be required by applicable securities laws, Vaalco undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Inside Information

This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of Vaalco is Matthew Powers, Corporate Secretary of Vaalco.

Source: VAALCO Energy, Inc.

Released May 7, 2026

Vaalco Energy, Inc. Announces First Quarter 2026 Results

HOUSTON, May 07, 2026 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today reported operational and financial results for the first quarter 2026. Additionally, the Company provided operational and financial guidance for the second quarter and full year of 2026.

First Quarter 2026 Highlights and Recent Key Items:

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Invested $78.1 million in capital expenditures, which included the successful start to the Gabon Phase Three Drilling Program, continued Côte d’Ivoire Floating Production Storage and Offloading vessel (“FPSO”) Dry Dock refurbishment and key long leads for the upcoming 2026 drilling campaign in Côte d’Ivoire;

- Successfully drilled, completed and placed on production the Etame 14H development well in April 2026 at an initial rate of 4,850 gross barrels of oil per day (“BOPD”), encountering 325 meters of net pay in high-quality Gamba sands;

- Successfully drilled, completed and placed on production the Etame 15H development well in February 2026 at an initial rate of 2,000 gross BOPD, confirming expectations from the ET-15P pilot well results;

- Baobab Ivoirien FPSO is now fully moored back on its original location and resumption of production at Côte d’Ivoire remains on track for Q2 2026;

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Confirmed as operator with a 60% WI in the Kossipo field on the CI-40 Block, located southwest of the Baobab field, with a field development plan (“FDP”) expected to be completed in the second half of 2026;

- Further information on the Kossipo field can be found in the Q1 2026 supplemental deck posted on Vaalco’s website;

- Divested all Canadian properties for an adjusted purchase price of $25.5 million with a closing date of February 19, 2026;

- Sold 12,157 net revenue interest (“NRI”)(1) barrels of oil equivalent per day (“BOEPD”) and produced 15,110 NRI(1) BOEPD or 19,884 working interest (“WI”)(2) BOEPD, all of which were slightly above the midpoint of guidance;

- Expecting Q2 2026 sales volumes to range between 16,800 and 18,300 NRI BOPD, a 44% increase compared to Q1 2026 (at the midpoint of guidance);

- Increasing full year 2026 production and sales NRI volumes by 8% and 12%, respectively at the midpoint, while maintaining 2026 capital budget guidance unchanged even with additional drilling in Egypt included;

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Reported a net loss of $93.8 million ($0.90 per diluted share), which includes $94.2 million in expenses primarily due to a loss on derivative instruments and exploration expense;

- Excluding primarily the $55.9 million unrealized portion of the derivative loss, Adjusted Net Loss(3) totaled $47.2 million ($0.45 per diluted share);

- Generated Adjusted EBITDAX(3) of $11.6 million which included no partner liftings in Gabon and no sales in Côte d’Ivoire, Q2 2026 is expected to have two partner liftings in Gabon and Q3 2026 sales are expected to include Côte d’Ivoire;

- Reduced trade receivable in Egypt even further from $31.6 million at December 31, 2025 to $24.2 million at March 31, 2026; and

- Declared quarterly cash dividend of $0.0625 per share of common stock to be paid on June 26, 2026.

(1) All NRI sales and production rates are Vaalco's working interest volumes less royalty volumes, where applicable.

(2) All WI production rates and volumes are Vaalco's working interest volumes, where applicable.

(3)  Adjusted EBITDAX, Adjusted Net Income (Loss), Adjusted Working Capital, Free Cash Flow and Net Debt are Non-GAAP financial measures and are described and reconciled to the closest GAAP measure in the attached table under “Non-GAAP Financial Measures.”

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We began 2026 by divesting all of our Canadian assets, and increased our future growth potential in Côte d’Ivoire by being confirmed as operator with a 60% WI in the Kossipo field. The Kossipo field is a discovery with material oil in place, located 8 kilometers from our highly productive Baobab field on the CI-40 Block. We also have had a positive start to our Gabon drilling campaign with the ET-15H well coming online in February 2026 and the Etame 14H well coming online in April 2026. These wells helped production in Gabon increase slightly in Q1 2026 and the larger impact can be seen in our guidance for Q2 2026 compared to Q4 2025. Despite the increase in production, as we mentioned on our year-end call, sales were lower due to a government lifting in Gabon in the first quarter 2026 to settle our foreign tax expense. We expect this to be the only government lifting in 2026 and, as you can see from our second quarter guidance, we expect two optimized liftings in Gabon driving strong sales in a higher priced environment. The FPSO for Baobab is moored in place at the Baobab field in offshore Côte d’Ivoire and the field is expected to restart in Q2 2026. These factors have given us the confidence to increase full year production and sales guidance for 2026. Additionally, we plan to start the Phase Five Drilling Program at Baobab later this year with material potential production uplift in 2027.”

Mr. Maxwell concluded, “Operationally, we are delivering as expected, with strong results from our drilling programs and capital investments. Financially, the first quarter was difficult, driven by several factors including realized and unrealized hedging losses, exploration expense related to the Etame West ET 14-P well, our investment in seismic with our partners in the Niosi and Guduma blocks in offshore Gabon and the government lifting in Gabon. We have a pragmatic hedging program that we put into place in early 2025 to protect cash flow as we invest significant capital in 2026 across our portfolio to grow production. While this has reduced risk and protected cash flows, during the recent upswing in pricing it has caused us to recognize cash and non-cash derivative losses, but we are benefiting from unhedged sales at much higher prices. We believe that Q2 2026 will be much stronger financially with additional liftings and we will see continued improvement in the second half of 2026 and into 2027. We believe that the first quarter was an inflection point. With the continued operational successes we are delivering and as indicated by the increased full year 2026 production and sales guidance without increasing 2026 capital guidance, we are confident in our strategic vision. Vaalco remains well positioned to deliver on our forecasted 225% organic production growth by 2030.”

Operational Update

Gabon

The Company’s Phase Three Drilling Program in Gabon commenced in the fourth quarter of 2025 with the drilling of the ET-15H development well in the 1V block of Etame in December 2025. The well was completed and placed on production in February 2026 confirming expectations from the ET-15P pilot well results. The Company proceeded to drill the West Etame exploration well (ET-14) and although the well encountered 10 meters of high quality sands, the target zone was water-bearing. The lower portion of the well was plugged and abandoned but the well bore was utilized and sidetracked in the upper portion of the well to drill the ET-14H development well in the Main Fault Block of Etame.

The ET-14H well was successfully completed and placed on production in an attic position within the Main Fault Block of the Etame field, with a lateral of 325 meters of net pay in high-quality Gamba sands in April 2026. The well achieved an initial flow rate of approximately 4,850 gross BOPD or 2,850 net BOPD. Vaalco continued its drilling campaign in offshore Gabon by mobilizing the rig to the Ebouri platform and commenced drilling the EEBOM-5H development well in April 2026. The Company has several wells and workovers planned at the Ebouri and SEENT platforms to enhance production and potentially add reserves.

Vaalco and its partners completed the 3D seismic campaign across the jointly-owned Niosi and Guduma blocks in January 2026. The seismic acquisition was executed and satisfies the minimum commitments under the terms of the Niosi PSC as well as to inform the decision on proceeding into the second exploration period for the Guduma Block.

Egypt

The drilling campaign in Egypt began in December 2024 and continued throughout 2025 with the final well placed on production in January 2026. All wells drilled in the Eastern Desert successfully achieved their target.

During the first quarter of 2026, operations focused on interventions, workovers, and production optimization activities. A workover campaign to reactivate shut-in wells contributed to incremental production over the 2025 exit rate, while improved uptime supported increased average daily production rates.

With the success of the recent drilling campaign, captured efficiencies and accelerated technical subsurface evaluation, the Company decided to drill additional wells in Egypt in 2026. Vaalco contracted a rig and began drilling in early May targeting six additional wells to be drilled in Egypt, without increasing the total Company full year 2026 capital guidance range.

Côte d'Ivoire

The Baobab FPSO completed its planned dry dock refurbishment in February 2026 and arrived back in Côte d'Ivoire in early April 2026. Reconnection activities are now underway with four out of seven risers and umbilicals connected and field production is expected to restart during the second quarter of 2026. A rig has been secured for the planned development drilling program which is expected to begin at the end of the third quarter of 2026. The drilling campaign is expected to bring meaningful additions to production from the main Baobab field in block CI-40.

In February 2026, the Company was confirmed as the operator with a 60% WI in the Kossipo field on the CI-40 Block with a field development plan (“FDP”) to be completed in the second half of 2026.