Meta Materials Opens New Global Headquarters & Centre of Excellence

Rhea-AI Summary

Meta Materials Inc. (NASDAQ:MMAT) has officially opened its new global headquarters and Centre of Excellence in Dartmouth, Nova Scotia. This 68,000 square foot facility, featuring twelve semiconductor-quality cleanrooms, is the largest of its kind in Atlantic Canada. The centre will focus on advanced manufacturing, nanotechnology, and metamaterials, driving innovations in augmented reality and automotive displays. The opening signifies a pivotal moment for META, enhancing its leadership in sustainable advanced materials and expanding its partnerships with major brands.

Positive

• Opened a state-of-the-art 68,000 sq ft facility, enhancing operational capacity.
• The facility is the largest nanofabrication center in Atlantic Canada, promoting technological leadership.
• Offers integrated capabilities for augmented reality technologies, which could drive future revenue growth.
• Houses ARfusion platform technology, potentially enhancing product offerings.

Negative

• None.

Canada's largest commercial optics and nano-photonics center, with twelve semiconductor-quality cleanrooms.

HALIFAX, NS / ACCESSWIRE / November 17, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today officially opened its new global headquarters and Centre of Excellence in Dartmouth, Nova Scotia. This 68,000 square foot state-of-the-art facility will house some of the world's leading scientists in metamaterials, advanced manufacturing, and nano-photonics. It is the only facility in Canada to combine advanced packaging for semiconductors, unique materials, and chemistry research, as well as design and manufacturing of holographic and other optical products. The facility's 12 cleanrooms are designed to operate at ISO 8 and up to ISO 5 standards, making it one of the largest and most advanced nanofabrication facilities in Canada in the last thirty years, and the only facility of its kind east of Ottawa.

"Today marks a historic milestone for Meta Materials," said Jack Harding, chair of the board at META. "During my career in semiconductors, I have observed the development of advanced manufacturing infrastructure globally. I'm particularly impressed with the efficiency with which META has built world class facilities in Nova Scotia extending its leadership in advanced functional materials and nanophotonic applications. Our customers and partners will be the beneficiaries of our new facility. Further, Nova Scotia now has the opportunity to lead the world in this critical technology."

META's new facility offers customers a one-stop-shop approach in augmented reality, automotive head-up display, electro-optics, and other solutions. It will be the new home for META's ARfusion® platform technology, which caters to the entire smart lens value chain, from optical design and material selection, to mass production and integration. In addition, META can integrate its advanced materials into a variety of products such as VLEPSIS™, NANOWEB®, metaAIR® and holoOPTIX®.

"The opening of this impressive facility shows that Atlantic Canada has what is required to support companies of almost unimaginable scope and ability," said the Honorable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). "In the last nine years, META grew from a startup seeking ACOA's advice and support to a world leader of advanced materials and nano technology. We are proud they selected Nova Scotia for their global headquarters and Centre of Excellence."

"I am so proud of my team and what we have been able to accomplish today as we continue to push the boundaries in materials science. Through nanotechnology, the smallest of things can have the biggest impact," said George Palikaras, META's President & CEO. "Behind every META advanced material and application is a plan for a sustainable future. Through this expansion, META is delivering the world's first IDM, the Integrated Device Manufacturer model for metamaterial-based companies, similar to early semiconductor companies which have grown to lead their industry. We are excited to celebrate the official opening of our new global headquarters, which will act as an important catalyst for growth. I would like to thank everyone who has helped get us to where we are today."

META became the first metamaterial company listed on the NASDAQ in 2021, it now has 10 locations in 4 countries around the world. Through a number of strategic acquisitions since 2016, META has combined critical technology platforms, added infrastructure, expertise and IP that is globally unique. The Company currently has 472 active utility and design patent documents. It has worked with some of the world's leading brands including Airbus, PPG, Lockheed Martin, Sekisui, Mitsubishi Electric, and DuPont Teijin Films. META has also forged important partnerships with leading academic institutions, and suppliers such as Covestro, PPG, and Sekisui Chemical. META is a leader in sustainability, named to the Global Cleantech 100 in 2019, Innovator of the Year by Lux Research in 2021, recently named as a Future 50 Fastest-Growing Sustainable Companies in Canada by Corporate Knights and one of Canada's Clean Technology Winners in Deloitte's Fast 50 Program.

Media Inquiries:

Corinne MacLellan
902-209-3234
Corinne@groupatn.ca

Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com

Investor Contact:

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

About Meta Materials Inc.

META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, high-performance, 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 nano-optic metamaterial technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. 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, which may include, but are not limited to, statements with respect to the ability of the Company to continue to meet the Nasdaq requirements to maintain a Nasdaq listing, the business strategies, product development, expansion plans and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "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, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the total available market and market potential of the products of the Company, the market position of the Company, the need to raise more capital and the ability to do so, 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 our employees, 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" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2, in the Company's Form 10-Q filed with the SEC on November 9, 2022, 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.

SOURCE: Meta Materials Inc.

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FAQ

What is the significance of Meta Materials' new headquarters opening?

The opening represents a major milestone for Meta Materials, enhancing its position as a leader in advanced materials and nanotechnology.

How large is the new Meta Materials facility?

The new facility spans 68,000 square feet and includes twelve semiconductor-quality cleanrooms.

What technologies will be developed at Meta's new Centre of Excellence?

The centre will focus on advanced manufacturing, nanotechnology, and metamaterials, including applications in augmented reality and automotive displays.

How does the new facility impact Meta Materials' business strategy?

The facility allows Meta Materials to integrate its materials into a variety of products, potentially increasing market competitiveness and revenue.

What impact does the new headquarters have on the company's partnerships?

The new headquarters is expected to strengthen partnerships with major brands and academic institutions, enhancing collaborative innovation.