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Top 10 Battery OEM Signs Agreement With Nanotech Co.

Source: Streetwise Reports

 

April 3, 2023 (Investorideas.com Newswire) Nanotech company Meta Materials Inc. has signed a joint development agreement with a confidential Top 10 battery original equipment manufacturer for its battery separator technology.

Nanotech company Meta Materials Inc. (MMAT:NASDAQ; MMAX:CSE; MMAT:FSE) has signed a joint development agreement with a confidential Top 10 battery original equipment manufacturer (OEM) for its NPORE® battery separator materials.

With electric vehicles (EVs) set to take over the highways, the Nova Scotia-based company said its products will make lithium batteries safer and more efficient while extending their range and making battery supply chains more sustainable.

NPORE® is a free-standing, flexible separator made with a ceramic nanomaterial that provides less than 1% heat shrinkage up to 220° C, META said. Conventional plastic separators shrink at higher temperatures, which can cause thermal runaway and battery failures.

"We see this as further validation of NPORE® and a catalyst for the shares," Water Tower Research analyst Graham Mattison wrote in a March 20 updated research note. "META has demonstrated the excellent electrochemical performance and outstanding heat resistance of NPORE® through both independent testing and a recently released white paper from a battery developer. This agreement shows the commercial potential of the product as well as a potential path to market."

META recently presented at the International Battery Seminar in Orlando, Fla., and was chosen as a finalist in its Best of Show awards program recognizing the best new battery products.

The company is applying its futuristic technology to the communications, health and wellness, aerospace, automotive, and clean energy sectors.

"We believe Meta is well-positioned to secure partnerships with major companies over the next year," Alliance Global Partners analyst jake Sekelsky wrote while initiating coverage of META in February. "We believe Meta's solutions have the potential to disrupt various end markets."

META President and Chief Executive Officer George Palikaras said the battery materials market is one of the largest the company is addressing.

"We see strong interest in our solution for safer, more efficient, and sustainable batteries," Palikaras said. "And we look forward to this global partnership."

The Catalyst: 'A Significant Growth Curve'

The company recently received a new patent in connection with its battery innovations. It was directed to batteries that use novel separators, including NPORE® separators.

META now has 501 active patent documents, of which 315 have been issued.

"META is at the early stage of what we expect will be a significant growth curve as its technologies are incorporated into many of today's products in a range of industries," Mattison wrote. "The company's growing portfolio of technologies, along with its production capabilities, partnerships, and deep patent portfolio, give META a competitive advantage as it works to penetrate addressable markets that are collectively well in excess of US$50 billion."

The new patent is directed at lithium batteries where the anode, or negative electrode, comprises a dispersion or "wet" layer of the anode materials. A second related patent is expected to be issued shortly, the company said.

"NPORE® provides outstanding heat resistance compared with conventional polymer separators, which show significant shrinkage at elevated temperatures due to the melting of the polymer," Mattison wrote in a March 14 note.

Driven by the EV boom, the lithium-ion battery market is expected to reach US$135 billion by 2031, according to a report by Markets and Markets. Future Market Insights Inc. said the global lithium-ion battery separator market could be worth US$3.2 billion by 2032.

Making a Buzz at CES

Developed first in the 1960s, design and manufacturing capabilities caught up to metamaterials in the 2000s.

META is using them to develop nanotechnology products like self-deicing and defogging car and truck headlights and windows, see-through antennas, augmented reality glasses that look like regular glasses, and special eyewear that protects pilots' eyes from laser strikes.

At the Consumer Electronics Show this year, META was named a 2023 Innovation Awards honoree for its NANOWEB® transparent film to clear up microwave windows.

A microwave display, with its completely clear window, drew big crowds on the conference floor. On Day 2 of the show, META was the most talked about brand at CES according to social media trend tracker BuzzRadar. [OWNERSHIP_CHART-10218]

NANOWEB® is also used to de-ice auto sensors and manufacture antennas and electrochromic lenses for augmented reality and 5G reflector films.

Ownership and Share Structure

About 15% of META is held by management and insiders, according to Yahoo Finance. Among them is President and Chief Executive Officer George Palikaras, who owns 8.3% or 29.9 million shares, Reuters reported.

Yahoo said about 11% of the company is held by institutions. Some of the top holders are State Street Global Advisors (US), with 4% or 14.49 million shares, and Nova Scotia Innovation Corp., with 3.45% or 12.5 million shares, according to Reuters.

The rest, 74%, is retail.

The company has a market cap of $182.1 million, with 362.2 million shares outstanding and 307.5 million free-floating. It trades in a 52-week range of US$2.34 and US$0.48.

Disclosures:

1) Steve Sobek wrote this article for Streetwise Reports LLC. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None. His/her company has a financial relationship with the following companies referred to in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Meta Materials Inc. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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