HALIFAX, NS / ACCESSWIRE / November 1, 2022 / Meta
Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a
developer of high-performance smart materials and nanocomposites, today
announced it has entered into a Memorandum of Understanding ("MOU") in
partnership with DuPont Teijin Films and Mitsubishi Electric Europe.
Using META's PLASMAfusion®, the parties plan to scale a proprietary,
high volume, roll-to-roll manufacturing system for film-based, coated
copper current collectors. The film-based products will reduce battery
weight and cost, improve energy efficiency, extend vehicle range, and
enhance safety against the risk of battery fires (known as thermal
runaway) compared to standard Li-Ion batteries for electric vehicles and
other use cases.
"Current Li-Ion battery innovations focus mainly
on extending battery range and life span. With today's climate crisis
and the increased demand for Electric Vehicles, a next generation Li-Ion
battery is required that is more sustainable and safer," said George
Palikaras, META's President and CEO. "We are excited to form a strategic
alliance with Dupont Teijin Films and Mitsubishi Electric Europe
focused on scaling PLASMAfusion® in a proprietary high volume battery
coating system that can reduce copper volume and provide superior
functionality, reduced cost, and improved battery safety."
The MOU
is focused on developing battery materials, such as coated copper
current collectors and solid-state battery electrodes, as a multi-year
project in several stages: a pilot-scale roll-to-roll system, to be
followed by an industrial scale mass production line, and further
development of the application to the production of solid-state
batteries. META will contribute the PLASMAfusion® technology platform,
system development and independent testing of finished cells; DuPont
Teijin Films will develop and supply the polyester substrates, and
Mitsubishi Electric Europe will contribute automation technology,
expertise, and interface to machine builders.
"We are confident
that our thin polyester film manufacturing technology, coupled with our
fundamental knowledge in polyester material science, will help deliver a
solution to the lithium-ion battery market to improve safety and
performance," said Dave Wall, Global Technology and Market Development
Leader for DuPont Teijin Films. "This collaboration with Meta Materials
and Mitsubishi Electric is a perfect example of how DuPont Teijin Films
innovates alongside talented partners to meet global challenges."
"This
partnership is a very good recipe for success: combining the providers
of the key processing technology, the key raw material and the
automation technology is how this coated copper current collector film
can become a commercial reality. This project shows how Mitsubishi
Electric can support the industrialization process with its network of
partners, automation, and industrialization technologies," said Klaus
Petersen, Director Lithium Battery Industry, of Mitsubishi Electric
Europe.
According to an S&P Global Future of Copper
report, the world may face a shortfall of between 1.6 and 9.9 million
tons of copper by 2035. Even under an optimistic scenario, supply would
not meet the copper demand required for net-zero emissions by 2050. An
EV requires 2.5 times more copper than an ICE vehicle and the forecasted
supply shortage needs a better solution than more mining. Current
collectors used on the cathode and anode are made from aluminum and
copper foils, respectively, and together contribute about 15% of the
weight of the battery cell; the heavier copper material accounts more
than 10%.
META's PLASMAfusion® technology has already been demonstrated in a project funded by the UK Research and Innovation Faraday Battery Challenge .
Thin layers of copper are deposited on both sides of a polyester
substrate, reducing the weight of the current collector by up to 80%.
Lighter weight increases energy density, extending vehicle range. The
polyester inner layer acts like a fuse, helping to inhibit thermal
runaway. This new battery technology can reduce the dependence on copper
that is needed for the other parts of electric vehicles. With copper
consumption in electric vehicles predicted to increase to 4 million tons
annually by 2040, this innovation could save millions of tons of
copper.
Assuming a 65kWh battery pack, as larger and longer-range
vehicles enter the market, META estimates a typical EV would require
about 650 square meters of anode current collector material. Each GWh of
battery capacity would require about 10 million square meters of
material, enough to produce about 15,000 vehicles. To supply one million
EVs would require 650 million square meters of anode current collector
material. The improved energy density of these batteries is expected to
not only increase the range of electric vehicles but also make electric
aviation more feasible, as well as improve portable electronics and
power tools.
About Meta Materials Inc. www.metamaterial.com .
About DuPont Teijin Films www.dupontteijinfilms.com
About Mitsubishi Electric
*U.S.
dollar amounts are translated from yen at the rate of ¥221=U.S.$1, the
approximate rate on the Tokyo Foreign Exchange Market on March 31, 2022
Forward-Looking Information www.sec.gov .
Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on any forward-looking statements or information.
No forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and the Company does not undertake any
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events, or otherwise,
except to the extent required by
Buy Sell Price $1.13 Day's Change Bid 1.12 Ask 1.13 B/A Size 8700x18100 Day's High 1.16 Day's Low 1.08 Volume 3,919,938 November 01, 2022 1:51pm ET
Back to News Results HALIFAX, NS / ACCESSWIRE / October 31, 2022 /
Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT),
a developer of high-performance smart materials and nanocomposites,
today announced that the Company will report Q3 2022 financial results
on Wednesday, November 9th, after the market close, followed by a
webcast on Thursday, November 10, 2022, at 8:00 AM EDT.
Webcast Details
Date: November 10, 2022https://audience.mysequire.com/webinar-view?webinar_id=a00e56cc-e589-4119-a7fb-a33db87c6498
About Meta Materials Inc.
META®
delivers previously unachievable performance, across a range of
applications, by inventing, designing, developing, and manufacturing
sustainable, high-performance, functional materials. Our extensive
technology platform enables leading global brands to deliver
breakthrough products to their customers in consumer electronics, 5G
communications, health and wellness, aerospace, automotive, and clean
energy. Our nano-optic metamaterial technology provides
anti-counterfeiting security features for government documents and
currencies and authentication for brands. Our achievements have been
widely recognized, including being named a Lux Research Innovator of the
Year in 2021. Learn more at www.metamaterial.com .
Forward Looking Information
This
press release includes forward-looking information or statements within
the meaning of Canadian securities laws and within the meaning of
Section 27A of the Securities Act of 1933, as amended, Section 21E of
the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995, regarding the Company, which
may include, but are not limited to, statements with respect to the
ability of the Company to continue to meet the Nasdaq requirements to
maintain a Nasdaq listing, the business strategies, product development,
expansion plans and operational activities of the Company. Often but
not always, forward-looking information can be identified by the use of
words such as "pursuing", "potential", "predicts", "projects", "seeks",
"plans", "expect", "intends", "anticipated", "believes" or variations
(including negative variations) of such words and phrases, or statements
that certain actions, events or results "may", "could", "should",
"would" or "will" be taken, occur or be achieved. Such statements are
based on the current expectations and views of future events of the
management of the Company and are based on assumptions and subject to
risks and uncertainties. Although the management of the Company believes
that the assumptions underlying these statements are reasonable, they
may prove to be incorrect. The forward-looking events and circumstances
discussed in this release may not occur and could differ materially as a
result of known and unknown risk factors and uncertainties affecting
the Company, the capabilities of our facilities and the expansion
thereof, research and development projects of the Company, the total
available market and market potential of the products of the Company,
the market position of the Company, the need to raise more capital and
the ability to do so, the scalability of the Company's production
ability, capacity for new customer engagements, material selection
programs timeframes, the ability to reduce production costs, enhance
metamaterials manufacturing capabilities and extend market reach into
new applications and industries, the ability to accelerate
commercialization plans, the possibility of new customer contracts, the
continued engagement of our employees, the technology industry, market
strategic and operational activities, and management's ability to manage
and to operate the business. More details about these and other risks
that may impact the Company's businesses are described under the heading
"Forward-Looking Information" and under the heading "Risk Factors" in
the Company's Form 10-K filed with the SEC on March 1, 2022, with an SEC
filing date of March 2, in the Company's Form 10-Q filed with the SEC
on August 9, 2022, and in subsequent filings made by Meta Materials with
the SEC, which are available on SEC's website at www.sec.gov. Although
the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that
cause actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and the Company does not undertake any
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events, or otherwise,
except to the extent required by law.
Media Inquiries
Rob Stonemedia@metamaterial.com
Investor Contact
Mark Komonoskiir@metamaterial.com
SOURCE: Meta Materials Inc.
https://www.accesswire.com/723033/Meta-Materials-Schedules-Q3-2022-Results-and-Corporate-Update-Webcast 
