Victoria, British Columbia--(Newsfile Corp. - March 18, 2024) - MICHELIN Inflatable Solutions, a 100% MICHELIN's Company, and ALUULA Composites Inc. (TSXV: AUUA) ("ALUULA") announced today a collaboration on a joint research and development project.

"We are thrilled to work with Michelin, one of the world leaders in innovation, and to be providing high-performing materials that meet the unique needs of this project," said Sage Berryman, President of ALUULA. "This initiative is an opportunity for both Michelin Inflatable Solutions and ALUULA to create something really exciting together."

MICHELIN Inflatable Solutions and ALUULA aim to maximize the construction potential of more environmentally sustainable composite materials.

"We are committed to developing innovative products that balance performance, value, and environmental impact," said Anne-Frédérique SALIT, Michelin Inflatable Solutions CEO. "ALUULA's products align very well with these goals, and we look forward to offering even more products that embody all of these values."

ALUULA is known for its proprietary materials that are developed using a patented manufacturing process. This process yields textiles that are durable, lightweight, air-tight, waterproof, UV-resistant, and recycle-ready. This particular project involves three of ALUULA's composite material products.

ALUULA materials are mono-polymer composite materials, made without the use of adhesives. The resulting product is fully recyclable at the end of its useful life.

"We are proud to be working with a company like Michelin, that understands innovative performance and sustainability are not mutually exclusive," said Berryman.

About ALUULA Composites

ALUULA is a materials brand that improves the performance of outdoor gear with environmentally sustainable solutions. Proudly owned and manufactured on the Canadian west coast, ALUULA's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA's materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable.

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ALUULA's Brand Partners

The term "brand partners" does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA's technology as a brand ingredient in their products.

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Forward-Looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based on assumptions subject to significant risks and uncertainties as described in the Company's management discussion and analysis. Because of these risks and uncertainties and as a result of a variety of factors, including the timing and receipt of all applicable regulatory, corporate third-party approvals, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.