MISSISSAUGA, ON, 12 August 2024 /CNW/ – Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) (the “Pursue” or “Cymate“) is pleased to announce the receipt of its first large order for SmartMetal™ plates used in the NuFoam™ solution we have developed together with our partner NUVIA. These plates will protect sensitive equipment in the nuclear industry in France against external aggression. This magnitude of approx. 1 million USD is the first phase of a total 2.7 million USD Order from NUVIA.
Cymat partners with NUVIA to integrate SmartMetal™ Panels within Nufoam™ Solutions to protect nuclear facilities from external threats such as extreme weather and terrorism while reducing the impact of seismic events. NUVIA has been working for years to qualify solutions that meet the requirements/processes of the nuclear industry and to provide solutions to the needs of nuclear operators to maintain and secure their facilities.
France has the largest share of domestic electricity from nuclear power at 70% and is in the process of refurbishing a significant portion of its ageing nuclear power plants. New regulations require that power plants whose lifespan is to be extended now be protected from external threats as described above.
CEO and Chairman of Cymat Michael Liik stated: “We are very pleased to receive this first major order for a new application in the nuclear industry. Our partner NUVIA has informed us that they will regularly place orders of a similar size to support the extensive ongoing life extension programs for nuclear power plants in France.” He added: “This new business unit lays a strong foundation Cymat SmartMetal™ panel sales for the coming years.”
About Cymat Technologies Ltd.
Cymat Technologies Ltd. owns, through patents and in-depth know-how, the worldwide rights to manufacture and sell Stabilized Aluminum Foam (“SAF”), a unique, ultra-lightweight, cellular metal material. The proprietary production process involves injecting gases through a molten bath of alloyed aluminum infused with ceramic particles. The result is an advanced, lightweight, recyclable material with unique properties including customizable density and dimensions, mechanical energy absorption, thermal and acoustic insulation, and insensitivity to time, temperature and strain rate. A key benefit of this continuous foam production process is its scalability and resulting low production costs. SAF is used in industries such as architectural design, military and automotive. Cymat markets its architectural SAF under the name
Alusion™ brand and its SAF for automotive and military under the SmartMetal™ brand. For more information, visit our website at www.cymat.com.
Certain information in this press release may contain forward-looking statements that involve significant known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, planned acquisitions, partnerships, joint ventures and strategic alliances and collaborations, budgets, costs and plans and objectives of the Company or involving the Company. Such forward-looking information reflects the current views of management and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “targets,” “aims,” ”anticipates” or “believes” or variations (including negative variations) of such words and phrases or can be identified by statements that certain actions “may,” “could,” “should,” “would,” “might” or “will be taken, occur or achieved.” A number of known and unknown risks, uncertainties and other factors may cause actual results or performance to differ materially from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions and dependence on regulatory approvals. Certain material assumptions relating to such forward-looking statements may be discussed in this press release and in the Company’s annual and quarterly management’s reports available at www.sedar.com. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove to be inaccurate. Accordingly, undue reliance should not be placed on forward-looking statements. The Company undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws.
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