Meta Materials Receives Two International Hologram Manufacturers Association -IHMA Awards

Rhea-AI Summary

Meta Materials Inc. (MMAT) announced that its QUANTUM stripe authentication product won two awards (Best Origination and Best in Show) at the 2023 International Hologram Manufacturers Association - IHMA Awards. The QUANTUM stripe is a revolutionary banknote security product based on META's award-winning KolourOptik technology, ensuring next-generation security and authentication in banknote production. According to a Banknote Industry News survey, the volume of banknotes in circulation grew by 4.5% in 2022 on a global basis compared with 2021, and is expected to reach nearly $22.9 billion by 2027. META's CEO Uzi Sasson emphasized the industrial applications of their authentication products within banknote, ID, and brand markets, highlighting their strategic focus on sales, marketing, and R&D among their core business lines.

Positive

• The QUANTUM stripe authentication product won two awards at the 2023 IHMA Awards, showcasing the company's innovative and effective security solutions. The growth in the volume of banknotes in circulation presents a significant market opportunity for META's authentication products, with the company already attracting large customers including a confidential G10 central bank and similar organizations.

Negative

• None.

QUANTUM™ stripe chosen as Best Origination and Best in Show at the 2023 IHMA Awards

HALIFAX, NS / ACCESSWIRE / November 27, 2023 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, announced that its QUANTUM stripe authentication product won two awards (Best Origination and Best in Show) at the 2023 International Hologram Manufacturers Association - IHMA Awards.

"The IHMA board are looking for innovation, visual distinction, aesthetics and differentiation. It is clear to us all that the plasmonic developments by Meta are among a new range of optical technologies pushing the boundaries of anti-counterfeit security features and developments in recent years," said Dr. Paul Dunn, chairman of the IHMA.

QUANTUM stripe is a revolutionary banknote security product based on META's award-winning KolourOptik® technology, combining movement, 3D stereoscopic depth, and multi-color effects in an ultrathin form factor. The technology ensures next-generation security and authentication in banknote production.

"META's unique, animated, nano-optic technology represents an important new tool in the fight against counterfeiting and brand piracy, as institutional customers demand new, more effective and durable authentication solutions," said Alan Newman, Chief Product Officer for Authentication, Managing Director Banknote & Authentication Division at META.

According to a Banknote Industry News survey of central banks conducted in 2023, the volume of banknotes in circulation in 2022 grew by 4.5% on a global basis compared with 2021, and 10 countries reported growth above 8%. What that equates to in design and currency printing is almost $16.2 billion CAD in 2020, expected to reach nearly $22.9 billion by 2027, according to a recent Verified Market Reports publication.

"This award is a testament to the technology and quality of our products. QUANTUM is the latest release from the authentication product portfolio, with demonstrable industrial applications within banknote, ID and brand markets. Our other authentication products have already attracted large customers, including a confidential G10 central bank and similar organizations," noted META CEO Uzi Sasson. "Our strategic direction is laser focused, dedicating our resources to sales, marketing and R&D among our three core business lines."

About the International Hologram Manufacturers Association

The International Hologram Manufacturers Association (IHMA) was founded in 1993 to represent the interests of hologram manufacturers and the hologram industry worldwide. It is dedicated to promoting the interests of the industry and to helping users achieve their commercial, aesthetic and authentication objectives through the effective use of holography. IHMA's Excellence in Holography awards recognize outstanding achievement, marking success for suppliers, manufacturers, and end-users at the forefront of the sector who have brought forward innovative or commercially viable hologram products or techniques over the last 12 months.

About Meta Materials Inc.

Meta Materials Inc. (META) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. META® technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive and clean energy. Learn more at www.metamaterial.com.

Media and Investor Inquiries

Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com
ir@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 business strategies, product development, restructuring 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, 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 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 23, 2023, in the Company's Form 10-K/A filed with the SEC on March 24, 2023, in the Company's Form 10-Q filed with the SEC on November 13, 2023, 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.

View source version on accesswire.com:
https://www.accesswire.com/810214/meta-materials-receives-two-international-hologram-manufacturers-association-ihma-awards

FAQ

What awards did META's QUANTUM stripe authentication product win at the 2023 IHMA Awards?

The QUANTUM stripe won Best Origination and Best in Show at the 2023 IHMA Awards.

What is the QUANTUM stripe authentication product?

It is a revolutionary banknote security product based on META's award-winning KolourOptik technology, ensuring next-generation security and authentication in banknote production.

What was the growth in the volume of banknotes in circulation in 2022?

The volume of banknotes in circulation in 2022 grew by 4.5% on a global basis compared with 2021, presenting a significant market opportunity for META's authentication products.

What is META's strategic focus in terms of business lines?

META's CEO Uzi Sasson emphasized their strategic focus on sales, marketing, and R&D among their core business lines, highlighting the industrial applications of their authentication products within banknote, ID, and brand markets.