Mississauga, Ontario, December 13, 2022 /CNW/ – Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) (“Company” Also “Saimat“) is pleased to announce that it has signed a second component development agreement with a global automotive manufacturing customer (“OEM”).
Cymat announced its first component development agreement with this OEM in July (see press release issued). July 5, 2022) After a considerable period of design collaboration with Cymat’s proprietary aluminum foam, SmartMetal,TMsThe highly successful results from the component design phase of this program have prompted OEMs to start discussing additional applications of SmartMetalTM in future electric vehicles.
In a second contract, Cymat will design side impact components for battery enclosures housed in new electric vehicle platforms. The design goal for this component is to optimize crash performance in a narrow design envelope with lightweight construction. Cymat, along with its design partner, his Tesseract Structural Innovations Inc. (“Tesseract”), will work with his OEM’s body structure group during the key vehicle design stages. This second contract of his will follow the same protocol, timeline and scope of work as the first. Completion of the design phase of the second contract is expected by the end of Q1 2023.
These components are designed for mid-duty multi-vehicle platforms for OEMs. Initial numbers are projected to be in the 50,000 range, expanding to hundreds of thousands as more models are introduced to the platform.
Saimat CEO Michael Riku “We are pleased that both the unique properties of our material and our innovative component design have been further validated by this global automotive company.” We believe this is the beginning of a long term relationship with this company as we continue to do so.TMs in the design of future electric vehicles. ”
About Cymat Technologies Ltd.
Through its patents and established know-how, Cymat Technologies Ltd. holds the worldwide rights to manufacture and market Stabilized Aluminum Foam (“SAF”), a unique ultra-light cellular metallic material. The unique manufacturing process involves injecting gas into a molten bath of alloyed aluminum infused with ceramic particles. The result is an advanced, lightweight, recyclable material that exhibits unique properties such as: Customizable density and dimensions. mechanical energy absorption; thermal and sound insulation; insensitive to time, temperature and strain rate. A major advantage of this continuous foam manufacturing process is its scalability and consequent reduction in manufacturing costs. SAF is used in industries such as architectural design, military, and automotive. Cymat sells the architecture SAF under Alusion.TMs Brands under SmartMetal and their Automotive and Military SAFTMs brand. For more information, please visit our website www.cymat.com.
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Source Cymat Technologies Ltd.
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