TORONTO, Nov. 30, 2015 /CNW/ - Today Cymat Technologies Ltd. ("Cymat") announced that it has received an order for 710 m2 of SmartMetalTM to be utilized in the nuclear material facilities of the French Alternative Energies and Atomic Energy Commission (the "CEA). The SmartMetalTM panels have been engineered for installation in the base of cargo lifts used in the transport of radioactive material. The SmartMetalTM pad will provide a failsafe energy absorber as protection in the event of a major lift failure. The approximate value of the order is $CAD $300,000 with the beginning of calendar 2016 targeted for shipment.
The CEA is a government agency responsible for all aspects of French nuclear policy. The CEA mandate includes the management of approximately 16% of the total volume of nuclear waste generated in France.
France presently derives approximately 75% of its electricity from nuclear energy. France's fleet of 58 reactors has an average age of 30 years. Initial nuclear plant operating licenses are for a 30 year period. Accordingly, the French nuclear industry is currently engaged in a comprehensive upgrade and retrofit program to extend the life of aging reactors.
"We are pleased to receive this order from CEA as it validates SmartMetalTM technology can play an important role in safeguarding the transportation of radioactive material and opens up a new vertical market for Cymat," stated Michael Liik, Cymat's Executive Chairman. Mr. Liik added: "With the scale of the global nuclear industry we are confident that other business development opportunities will result from this relationship with CEA, as demonstrated by the previously announced SmartMetalTM specification in the construction of the ITER fusion reactor."
Cymat develops innovative materials for industry. The company has worldwide rights, through patents and licenses, for producing Stabilized Aluminum Foam. The ultra-light metallic foam is manufactured by bubbling gas through molten alloyed aluminum containing a dispersion of fine ceramic particles and can be produced as either Near-net Shapes or Flat Panels. The result is a revolutionary material with a wide array of features including very low density, mechanical energy absorption, thermal and acoustic insulation, is recyclable, time and temperature insensitive and has a relatively low cost of production. Cymat is collaborating with a number of partners spanning the architectural, blast mitigation and automotive industries. For further information, visit the Web site www.cymat.com.
SOURCE Cymat Technologies Ltd.
For further information: Investors and Media: Michael Liik, Executive Chairman, Cymat Technologies Ltd., Tel: (416) 682-4214, Cell: (416) 704 6217, Email: Liik@cymat.com