#Canada #Mississauga #EV Battery #Cymat Technologies #SmartMetal

Cymat Technologies Enters Joint Development Agreement

Cymat Technologies Ltd. (TSXV: CYM) has made significant strides in the automotive sector with the announcement of a joint development agreement with a notable Japanese trading and manufacturing company. This collaboration aims to innovate automotive solutions, particularly in the field of electric vehicle (EV) battery function and protection, catering to the growing demand within the industry.

For nearly a year, Cymat has been working closely with this established partner to explore automotive solutions, resulting in the development of a lightweight, multifunctional EV battery encasement targeted at a Japanese original equipment manufacturer (OEM). This innovative component leverages Cymat’s previously designed composite material, specifically engineered for lightweight impact protection in EV battery applications.

Innovative Solutions for EV Battery Encapsulation

The initial version of the component being developed utilizes an advanced stabilized aluminum foam (SAF) sandwich structure. Highlights of this innovative product include an ultra-thin formulation of Cymat's high-density SmartMetal™ material. When compared to traditional high-strength steel solutions, this component boasts an impressive 40% reduction in weight while also being 15% cheaper to produce.

One of the primary goals of this collaboration is to enhance the component's performance in terms of battery functionality. The design is undergoing rigorous physical testing to ensure it meets the stringent performance metrics required by the OEM. In addition, both companies are proactively seeking to file patents to safeguard the groundbreaking aspects of this project.

In a show of ambition, discussions are also being pursued with a major Japanese Tier 1 automotive manufacturer regarding the assembly of this critical component, highlighting the potential of this partnership to expand within the automotive supply chain.

A Vision for the Future of Automotive Manufacturing

The excitement around this partnership was articulated by Michael Liik, CEO and Chairman of Cymat, who expressed optimism about the collaboration. He noted, “We are very excited to be working with a world-class partner on this new EV battery component. We believe that these modifications to our original OEM component will hold broader appeal throughout the automotive industry.” He further explained that the automotive sector is actively seeking lighter and more cost-effective materials to remain competitive in the rapidly evolving EV landscape.

As part of its commitment to transparency and stakeholder engagement, Cymat Technologies plans to conduct an investor presentation via Zoom on January 16, 2025. This presentation will delve deeper into the developments within the partnership, along with other initiatives currently underway. Attendees interested in participating can register in advance via a dedicated link provided by the company.

About Cymat Technologies Ltd.

Cymat Technologies is at the forefront of advanced materials manufacturing, particularly with its innovative production process of Stabilized Aluminum Foam (SAF). This unique material is characterized by its ultra-lightweight and recyclable properties, making it suitable for a diverse range of applications, including architectural design, military use, and automotive production. The company's products are marketed under the Alusion™ and SmartMetal™ brands, signifying the different sectors they cater to.

With this latest strategic partnership, Cymat Technologies is poised to make substantial contributions to the EV industry, driving forward advancements in both performance and safety of electric vehicles. The firm aims not only to optimize its offerings but also to reinforce its position as a key player in the global materials market.