MISSISSAUGA,
ON, Feb. 16, 2022 /CNW/ -
Cymat Technologies Ltd. (TSXV: CYM) (the "Company" or
"Cymat") is pleased to announce that, in collaboration
with design partner Tesseract Structural Innovations Inc.
("Tesseract"), Cymat has formally joined the Automotive
Parts Manufacturing Association's ("APMA") new zero-emission
concept vehicle initiative – Project Arrow.
Project Arrow, launched by the APMA, is the first
Canadian original, full-build, zero emissions electric concept
vehicle ("EV"). This all-Canadian joint effort will be designed
engineered and built by Canada's
world-class automotive supply sector and post-secondary
institutions. Details of this initiative can be found at
www.projectarrow.ca.
Cymat and Tesseract will design and supply a
number of components for specific areas of this new and innovative
EV. The EV will utilize several next generation crash components
developed by Tesseract that incorporate Cymat's light weight,
energy-absorbing SmartMetalTM aluminum foam. Areas of
the vehicle targeted for these components include doors, battery
enclosures, and front and rear crash systems.
"This is an exciting opportunity for Cymat to
showcase its innovative material together with Tesseract's
cutting-edge designs for the rapidly expanding EV market," said
Cymat CEO Michael Liik. He further
added "The prominence of our material in Project Arrow along with
the associated exposure to other key auto parts suppliers will
undoubtedly open the door to further collaborations."
APMA President, Flavio
Volpe, added, "The challenge in building the vehicle of the
future is to balance active technology with a lightweighting
philosophy. To win the range game, Automakers need a
transformational materials science strategy. This is Project
Arrow's bet on Cymat."
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 AlusionTM brand and its
automotive and military SAF under the SmartMetalTM
brand. For further information, please visit our website at
www.cymat.com.
About APMA
The APMA is Canada's national association representing OEM
producers of parts, equipment, tools, supplies, advanced
technology, and services for the worldwide automotive industry. The
Association's fundamental objective is to promote the original
equipment (O.E.) automotive supply manufacturing industry both
domestically and internationally.
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
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"expects", "is expected", "budget", "scheduled", "estimates",
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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.
SOURCE Cymat Technologies Ltd.