META Announces Global Innovation Research Program to Accelerate Metamaterial Breakthroughs

Rhea-AI Summary

Meta Materials Inc. (NASDAQ:MMAT) launched a global co-development initiative called Ideas for Innovation (i4i) aimed at enhancing the commercial accessibility of metamaterials. The program will offer grants of up to $150,000 for innovative projects submitted between October 1, 2021, and December 15, 2021, with awards announced in late January 2022. This initiative builds on over a decade of partnerships with universities and research institutions, positioning META to scale its proprietary manufacturing processes and promote sustainable product development.

Positive

• Launch of i4i program supports long-term product strategy.
• Grants of up to $150,000 to stimulate innovation in metamaterials.
• Over 20 co-development projects with universities enhance research collaboration.

Negative

• None.

HALIFAX, NS / ACCESSWIRE / September 22, 2021 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FRA:MMAT) a developer of high-performance functional materials and nanocomposites, today announced a global strategic co-development initiative, called "Ideas for Innovation" ("i4i"). This new outreach program builds upon ten years of shaping the field of metamaterial science in partnership with top researchers from around the world and four years of scaling META's proprietary manufacturing tools to develop disruptive, sustainable products and solutions.

BRINGING NEW MATERIALS TO MARKET

META is committed to working through collaborative research, in partnership with academia to make metamaterial innovations more commercially accessible to markets. Through a competitive process, META will award the best submissions with grants of up to $150,000 per innovation. Submissions will be accepted from October 1, 2021, to December 15, 2021. The selection committee will be comprised of renowned scientists, including META's Scientific Advisory Board. Program awards will be announced in late January 2022.

Over the past ten years, META has partnered in over 20 co-development projects with more than 10 universities and research institutions across seven countries. Notable collaborations include the UK-funded project announced in July 2021 towards developing a non-invasive glucose monitoring system, and a CA$1.62M Mitacs Accelerate grant for 15 highly qualified personnel, funded by the Natural Sciences and Engineering Research Council of Canada, in collaboration with Dalhousie University and the University of Toronto. META is also a member of the UK Metamaterials Network and the Stanford University SystemX Alliance.

"Companies play a key role in turning new ideas and innovative technologies from a possibility into an integral part of everyday life. META's new i4i partnership program initiative will allow the global metamaterial research community a first-of-its-kind access to large scale commercial nanofabrication tools and resources to scale ideas out of the lab and into real product applications." said Prof. Mark Brongersma, Stanford University and META's Strategic Scientific Advisor.

"In the last 20 years there have been incredible new discoveries in the field of metamaterials which is now reaching an inflection point. Through META's i4i partnership program, we are providing researchers access to our platform technology and our scientists, to accelerate ideas which would traditionally take 10-15 years to move from scientific breakthrough to commercialization," said George Palikaras, President and CEO. "As META scales commercial production of high-performance functional materials at high volumes, the i4i partnership program will support our mid to long term product strategy and expand META's competitive advantage."

META is seeking project submissions in the following application areas: Mobility & Communications, Imaging & Display, Energy & Environment, Healthcare, Aerospace & Defense, and Way Beyond Tech (future applications to be defined, such as extreme spatial dispersion, topological metamaterials, time-switched metamaterials, and more). More information about the program is available at www.metamaterial.com/about-us/ideas-for-innovation/ or by email to i4i@metamaterial.com.

About Meta Materials Inc.
META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our achievements have been widely recognized, including being named a Global Cleantech 100 company. Learn more at www.metamaterial.com.

Forward-Looking Information
This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company and the Ideas for Innovation research grant program, which may include, but are not limited to, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company, and the benefits to the Company of the potential research programs. Often but not always, forward-looking information can be identified by the use of words such as "potential," "predicts," "projects," "seeks," "plans," "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should," "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 Company, including risks related to the potential benefits of the transaction with Nanotech, the capabilities of Nanotech's facility and the expansion thereof, research and development projects of the Company, the market potential of the products of the Company and Nanotech, the market position of the Company, the completion of the transaction, the scalability of the Company's production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of Nanotech's team, the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" in the Company's Form 8-K filed with the SEC on July 23, 2021, and under the heading "Risk Factors" in the Company's Form 10-Q filed with the SEC on May 14, 2021, in the Company's Form 10-K filed with the SEC on March 18, 2021, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. 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, except to the extent required by law.

CONTACT
Mark Komonoski
Senior Vice President
Integrous Communications
Phone: 1-877-255-8483
Email: ir@metamaterial.com

Media inquiries:
media@metamaterial.com

SOURCE: Meta Materials Inc.

View source version on accesswire.com:
https://www.accesswire.com/665101/META-Announces-Global-Innovation-Research-Program-to-Accelerate-Metamaterial-Breakthroughs

FAQ

What is the Ideas for Innovation (i4i) program by Meta Materials (MMAT)?

The i4i program is a global initiative by Meta Materials that offers grants of up to $150,000 for innovative projects involving metamaterials.

When are submissions accepted for the i4i program by Meta Materials?

Submissions for the i4i program will be accepted from October 1, 2021, to December 15, 2021.

What are the goals of the i4i program by MMAT?

The i4i program aims to enhance the commercialization of metamaterials by providing access to manufacturing tools and funding for innovative research.

What is the significance of the i4i program for Meta Materials (MMAT)?

The i4i program will support META's long-term strategy by accelerating the development of new technologies and products in the metamaterial field.