Metamaterial Inc. Announces Strategic Partnership with Crossover Solutions to Enter Automotive Markets
HALIFAX, March 19, 2020 /CNW/ - Metamaterial Inc. (the "Company" or "META") (CSE: MMAT), a developer of smart materials and nano-composites, announced today that it has partnered with Crossover Solutions Inc. ("Crossover Solutions") to support product demand in the automotive industry.
META designs and manufactures highly functional materials and films, also called metamaterials, that offer new ways of using and interacting with light and other forms of energy. META's nanocomposites have been designed for applications in the aerospace, automotive, medical, consumer electronics and sustainable energy industries. Increasingly, META's HUD (head-up display) holographic technology, transparent antennas, as well as its touch sensor, lidar range enhancement, de-icing and de-fogging applications have been attracting interest from the automotive industry.
Crossover Solutions is a global provider of technical consultation, with broad experience in all aspects of the design and optimization of manufacturing and supply chain processes for automotive and aerospace Tier 1 supply chains. With strategically located offices to service the automotive centers of North America, Europe and Asia, META is pleased to partner with Crossover as META launches its applications into the automotive marketplace.
"We are excited to partner with Crossover Solutions. They are a global group of companies that bring years of experience working with some of the leading OEM and Tier 1 automotive companies," said George Palikaras, President and CEO of META. "A number of the world's top automotive companies have expressed interest in our advanced technologies and are paying to test our materials through customization programs. The partnership with Crossover Solutions will not only help us navigate the industry but is anticipated to provide us competitive advantages as we scale and introduce our patented nanocomposite materials to the automotive industry and their customers."
"META's platform technology offers numerous product applications that we believe can add incredible value to this industry", said Paul LaCroix, CEO and Founder at Crossover Solutions. "These new applications are just starting to enter the market and we are excited for the opportunity to support META with our global electronic manufacturing operations, our technical sales and program management teams. We are very confident with the process of launching new technologies and we believe we are an outstanding match for the META group."
"The German based automotive OEM's love the type of innovative products that META has developed," said Richard Hahnekamp, President of I-D-L Engineering, Crossover's German subsidiary. "We are excited to be working with their team. META's nanocomposite products can be disruptive in that not only can they outperform existing solutions without the need for rare earth metals but they are also ultra-lightweight, all key ingredients for success in the automotive industry. We are certain our deep relationships with the German OEM's will augment the impressive group of products that META have developed. We look forward to working even more closely with the META team in our new partnership."
About Metamaterial Inc.
META is changing the way we use, interact with and benefit from light. META designs and manufactures advanced materials and performance functional films that are engineered at the nanoscale to control light and electromagnetic waves. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. META has a growing patent portfolio with three core technologies - holography, lithography and wireless sensing, designed for high volume application requirements. META is headquartered in Halifax, Nova Scotia and has offices in London, UK and Pleasanton, California.
More about META: www.metamaterial.com.
More about META's automotive applications: http://metamaterial.com/industries/automotive/.
About Crossover Solutions and I-D-L
Crossover Solutions is a global organization that is comprised of a group of seasoned Tier 1 and OEM executives that focus on bringing clarity to every part of the value proposition. Crossover Solutions' focus starts on the shop floor and continues through every level and aspect of management right into the Board Room. With over 200 associates and more than 1,000 additional partnered resources globally we have the depth to turn, run or develop operating entities.
More about Crossover: www.xosol.com.
More about Crossover's leadership: https://crossoversolutions.org/leadership-team/
Forward-Looking Statements
This release includes forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of the Company on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "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 companies, including risks regarding the technology industry, market conditions, economic factors, management's ability to manage and to operate the business and the equity markets generally. 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.
The CSE has neither approved nor disapproved the contents of this news release.
SOURCE Metamaterial Inc.
Metamaterial Inc., 1 Research Dr, Dartmouth, NS B2Y 4M9; George Palikaras , 1-902-482-5729
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