Abound Energy Declares H2Si Power in Material Default of License Agreement
Abound alleges H2Si failed to provide technical drawings and that Robert McKenzie marketed the licensed technology through another entity. The company says it may pursue legal proceedings and has requested a hold on shares previously issued to H2Si.
Abound Energy Inc. announced that it has declared H2Si Power Incorporated, Amerada R&D Ltd., and Robert McKenzie in material default of the H2Si Technology Commercialization and License Agreement dated June 27, 2026, and the associated support and guarantee agreement. The company alleges that H2Si failed to deliver necessary technical drawings for the first commercial unit and that Mr. McKenzie concealed his marketing of the licensed technology through a separate entity, SiFusion Energy Inc.
Abound Energy is taking steps to protect its rights, which may include legal proceedings, and has requested a hold on shares previously issued to H2Si. These developments introduce uncertainty regarding the commercialization timeline of the H2Si technology and the status of the company's exclusive license.