Cymat Announces Co-Operation Agreement with Tesseract Structural Innovations
Listing: TSX-V
Symbol: CYM
TORONTO, Oct. 20, 2020 /CNW/ - Today Cymat Technologies Ltd. (the "Company" or "Cymat") announced that it has entered into a Co-Operation Agreement with Tesseract Structural Innovations Inc ("Tesseract") of Arkansas. Tesseract is an automotive design company specializing in the creation of light-weight solutions for crash energy absorption within automotive body structures. Its patented Uniform Deceleration Unit ("UDU") optimally utilizes Cymat's SmartMetalTM in combination with a high-strength aluminum skin. With Tesseract engineering and placement of Cymat's materials, the Tesseract UDU has been proven in physical crush and FEA simulations to absorb more energy than any other approach by weight. The result is a light-weight, low-cost, superior energy absorption system that mitigates small overlap crashes ("SOL") in passenger vehicles and light trucks. The same unit can also be adapted for use in electric vehicles in the protection of their batteries during crashes.
By entering into this agreement, Cymat and Tesseract are combining their resources and expertise to both strategically market the UDU system and to develop and market future energy absorption innovations within the automotive industry.
The automotive landscape has changed dramatically since the financial crash of 08/09. OEM's in large part have off-loaded the development of new materials and design solutions to the parts industry. Cymat, as a pure materials company, must now work jointly with solution providers in order to ensure that its innovative materials are included in components. By working in co-operation with Tesseract, a company intimately familiar with the merits of SmartMetalTM, Cymat is able to market actual solutions to OEM's rather than simply tout the benefits of its unique materials.
Michael Liik, CEO of Cymat said, "We have been working informally with Tesseract for a number of years now, fully apprising their engineers of the relevant properties of SmartMetal and how best to deploy them in design solutions. Their knowledge of the automotive industry and how to engineer products using our foams for vehicle safety was a key driver for the decision to enter into this agreement." He went on to say, "We can also use their design expertise in other industry verticals such as military and nuclear, where end users are also seeking specific solutions for efficient energy absorption."
James Y Lancaster, CEO of Tesseract said, "I am very excited about this co-ordinated effort as SmartMetal plays a significant role in helping to enable our engineered solutions to exceed the performance of other methods of absorbing energy. The combined technology provides a powerful platform to design innovative parts that fit into existing spaces in vehicles ranging from passenger cars to light trucks. It can even be extended into larger vehicles."
About Cymat Technologies Ltd.
Cymat Technologies Ltd. has the global rights, through patents and established know-how, to manufacture Stabilized Aluminum Foam ("SAF"), a unique, ultra-light, cellular metallic material. The proprietary production process entails the injection of gases through a molten bath of alloyed aluminum infused with ceramic particles. The result is an advanced, lightweight, recyclable material that exhibits unique characteristics including: customizable density and dimensions; mechanical energy absorption; thermal and acoustic insulation; and time, temperature and strain-rate insensitivity. A key benefit of this continuous foam production process is its scalability and resultant low cost of production. SAF is used in such industries as architectural design, military and automotive. Cymat markets its architectural SAF under the AlusionTM brand and its automotive and military SAF under the SmartMetalTM brand. For further information , please visit our website at https://www.cymat.com.
About Tesseract Structural Innovations, Inc.
Tesseract Structural Innovations, Inc. is developing new solutions for vehicle safety. Its flagship product, the Uniform Deceleration Unit or UDU, is a unique structure that has the ability to absorb an enormous amount of energy during a vehicle crash. The patented UDU is designed to fit into the wheel well of virtually any light vehicle including cars, trucks, minivans, SUVs, or crossovers. Through its ability to absorb significant kinetic energy, the UDU reduces crash forces to reduce impact shocks and prevent intrusion of vehicle components into the passenger space during the crash. UDU is a major advance in vehicle safety that can save lives and prevent serious injuries. Tesseract Structural Innovations, Inc. is a VIC Technology Venture Development™ portfolio company. For more information, please visit https://www.tesseractinnovations.com
SOURCE Cymat Technologies Ltd.
Cymat Technologies Ltd., Michael Liik, CEO, 416-704-6217, [email protected]; Tesseract Structural Innovations, Inc., James Y. Lancaster, CEO, 979- 595-8505, [email protected]; Investor Cubed Inc.: Neil Simon, CEO, 647-258-3310, [email protected]
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