TORONTO, June 5, 2012 /CNW/ - Cymat Technologies Ltd. ("Cymat" or the "Company"), a material technologies company, today announced that it has it has been specified into the new ITER nuclear reactor project in France.
ITER is a major new nuclear project under construction in the south of France utilizing a new type of nuclear fusion reactor. The project is funded and run by a consortium of countries including the EU, India, Japan, China, Russia, South Korea and the United States.
Cymat's SmartMetalTM has been specified into the base of the cargo lift, to act as an energy absorber in the event of lift failure. This cargo lift is responsible for transporting "hot" nuclear components that require replacement or maintenance from the reactor building to the hot cell building and containment areas. This specification is the result of six months of consultation between Cymat and ITER engineering design to address this critical issue..
David Fowler, President for Cymat commented that "This is an good application for Cymat's SmartMetalTM, utilizing its unique energy absorbing properties". He went on to say "It is also a good example of Cymat leveraging its SmartMetalTM knowledge and design experience gained from the military and automotive industries and applying it to a diverse range of new industrial applications".
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.
The foregoing press release contains forward-looking statements relating to the development of markets, development programs, future revenues and improvements in technology, which are subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include the availability of funding, existing and future relationships with suppliers and manufacturers, the results of research and development activities, risks of technological breakthroughs that make Cymat stabilized aluminum foam less attractive, risks relating to the breadth, scope and enforceability of intellectual property rights, general industry and market conditions, availability of qualified personnel, and reliance on co-development partners. For additional information with respect to these and other factors, see the reports filed by Cymat Technologies Ltd. with the Ontario Securities Commission. Cymat disclaims any intention or obligation to update or revise any forward-looking statements.
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