AEGIS and SEETEL Establish Cordelia BESS and submits proposal to Participate in IESO LT2 Capacity Stream Procurement

Core Viewpoint - Aegis Critical Energy Defence Corp. has entered into a binding agreement with Seetel New Energy Co. Ltd. to form Cordelia BESS Inc., aimed at participating in Ontario's grid-scale energy storage market [1] Group 1: Project Development - Cordelia BESS Inc. has submitted a proposal for a battery energy storage system project with an indicative size of approximately 90 MWh in response to the IESO's Long-Term 2 Request for Proposals [2] - The project site is located adjacent to an existing Festival Hydro substation in Ontario and is subject to an agreement with landholders [3] - The project is currently in the development and procurement participation stage, with no guaranteed contract award or revenue [3] Group 2: IESO and Market Context - The LT2 Capacity Stream is part of IESO's long-term electricity planning framework, designed to secure additional dispatchable capacity to support system reliability and meet forecasted demand growth [4] - Ontario's electricity demand is expected to grow significantly, with material increases in peak demand and total system requirements projected by mid-century [5] - The LT2 procurement process aims to competitively evaluate eligible resources that can contribute to system reliability under long-term conditions [5] Group 3: Company Background - Aegis Critical Energy Defence Corp. develops and integrates advanced battery energy storage systems for various applications, including defense and critical infrastructure [9] - The company collaborates with Indigenous communities and global technology leaders to deliver secure energy systems for mission-critical operations [9]