MISSISSAUGA, ON, Aug. 12,
2024 /CNW/ - Cymat Technologies Ltd. (TSXV:
CYM) (OTCQB: CYMHF) (the "Company" or "Cymat")
is pleased to announce that it has received its first major order
for SmartMetal™ panels used inside the NuFoam™ solution
developed with our partner NUVIA. These panels will protect
sensitive nuclear industry equipment in France against external aggression. This order
of approximately $1M is the first
phase of a total $2.7M order from
NUVIA.
Cymat has been collaborating with NUVIA to integrate
SmartMetal™ panels within
Nufoam™ solutions to protect nuclear facilities
against external threats including extreme weather and terrorism
while also reducing the consequences of seismic events. NUVIA has
worked for years to qualify solutions that fulfill nuclear industry
requirements/processes and to provide solutions for nuclear
operator needs to maintain and secure their installations.
France has the largest share of
domestic electricity derived from nuclear power at 70% and is in
the process of refurbishing a significant portion of its aging
nuclear plants. New regulations require plants destined for life
extension programs to now protect against external threats as
described above.
Cymat CEO and Chairman Michael
Liik stated "We are very excited to receive this first major
order for a new application in the nuclear industry. Our partner,
NUVIA, has advised that they expect to be placing similar size
orders on a regular basis to service the extensive ongoing life
extension programs for nuclear plants in France." He went on to say that "This new line
of business lays a strong foundation Cymat
SmartMetal™ panel sales for years to
come."
About Cymat Technologies Ltd.
Cymat Technologies Ltd. has the global rights, through patents
and established know-how, to manufacture and sell Stabilized
Aluminum Foam ("SAF"), a unique, ultra-light, cellular metallic
material. The proprietary production process entails the injection
of gases through a molten bath of alloyed aluminum infused with
ceramic particles. The result is an advanced, lightweight,
recyclable material that exhibits unique characteristics including
customizable density and dimensions; mechanical energy absorption;
thermal and acoustic insulation; and time, temperature and
strain-rate insensitivity. A key benefit of this continuous foam
production process is its scalability and resultant low cost of
production. SAF is used in such industries as architectural design,
military and automotive. Cymat markets its architectural
SAF under the
Alusion™ brand and its automotive and military SAF under
the SmartMetal™ brand. For further information, please visit
our website at www.cymat.com.
Certain information set forth in this news release may
contain forward-looking statements that involve substantial 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, proposed acquisitions, partnerships, joint-ventures and
strategic alliances and co-operations, budgets, cost and plans and
objectives of or involving the Company. Such forward-looking
information reflects management's current beliefs 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", "predicts", "intends",
"targets", "aims", "anticipates" or "believes" or variations
(including negative variations) of such words and phrases or may be
identified by statements to the effect that certain actions "may",
"could", "should", "would", "might" or "will" be taken, occur or be
achieved. A number of known and unknown risks, uncertainties and
other factors may cause the actual results or performance to
materially differ 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, certain of which are beyond the control of the
Company including, but not limited to, the impact of general
economic conditions, industry conditions and dependence upon
regulatory approvals. Certain material assumptions regarding such
forward-looking statements may be discussed in this news release
and the Company's annual and quarterly management's discussion and
analysis filed at www.sedar.com. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. The Company does not assume any
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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SOURCE Cymat Technologies Ltd.