Meta Materials Signs Joint Development Agreement for Battery Materials with a Global OEM

HALIFAX, NS / ACCESSWIRE / March 20, 2023 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced that it has signed a joint development agreement for NPORE® battery separator materials with a confidential global Top 10 battery OEM.

NPORE® is a free standing, flexible separator which is made with a ceramic nanomaterial that provides best-in-class dimensional stability with less than 1% heat shrinkage up to 220° C, to help inhibit thermal runaway. Conventional plastic separators significantly shrink at elevated temperatures, which can cause thermal runaway and battery failures. NPORE® features pore sizes less than 100 nanometers, with a very narrow pore size distribution. META is able to tailor the properties of the separator by changing its thickness, porosity, and size of the pores.

"We are excited to see our battery team led by Dr. Steve Carlson, who has spent two decades pioneering technologies to make batteries safer, partnering with one of the top battery OEMs in the world to jointly develop and adapt NPORE® as a separator solution," said George Palikaras, President and CEO of META. "The battery materials market is one of the largest market segments META is addressing, growing from an estimated $16.7B in 2022, to $31.7B by 2026, a CAGR 17%, according to Yano Research and other market data sources. We see strong interest in our solution for safer, more efficient and sustainable batteries, and we look forward to this global partnership."

In addition to NPORE® metamaterial separators, META is developing NCORE™ current collectors, for increased safety, efficiency, and sustainability. Fabricated with proprietary PLASMAfusion® vacuum deposition technology, NCORE™ requires up to 96% less copper material and is thinner compared to solid copper foils, with a fuse-like feature for enhanced safety. Reduced weight and thickness can increase energy density and vehicle range, while lower copper content makes battery production and recycling more sustainable. META is commercializing NCORE™ in partnership with DuPont Teijin Films and Mitsubishi Electric Europe. NCORE® will be presented at the International Battery Seminar, March 20-23, Orlando, Fla., and has been chosen as a finalist in the inaugural Best of Show awards program, recognizing the best new products in the battery space.

To learn more about META's battery materials, click here, or visit booth 917 at the International Battery Seminar.

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, components, and systems. 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.

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Forward Looking Information

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SOURCE: Meta Materials Inc.