Meta Materials and Coulometrics Collaborate to Develop Next Generation Batteries

Coulometrics to Manufacture and Test Meta Materials' NPORE® Ceramic and PLASMAfusion™ Technologies to Deliver Safer, Higher-Performing Li-ion Batteries

HALIFAX, NS / ACCESSWIRE / July 5, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT) (FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced it has signed a Master Service Agreement with Coulometrics, LLC, a leading provider of battery material development services, state-of-the-art battery assembly and testing services, and toll coating and battery contract manufacturing, to independently validate META's platform technologies related to battery applications.

"With the recent strategic acquisitions of Plasma App and Optodot, combined with our roll-to-roll high volume thin-film coating production facility in Quebec, we now have capabilities to make Li-ion batteries safer and more efficient." said George Palikaras, President & CEO of META. "We are excited about our collaboration with Coulometrics, a world class battery developer. Leveraging Dr. Buiel's 28-year expertise and state-of-the-art materials synthesis and battery assembly facility, META and Coulometrics will collaborate to develop and test the safety and performance of our new battery technologies, which we believe will enable a new generation of safer lithium-ion batteries."

Metal-coated polymer current collectors produced by PLASMAfusion™ have been designed by META to isolate internal short circuits by using a proprietary thermal-isolation technology. In addition to having lower mass (up to 95% less copper or aluminum) and manufacturing costs, cells with metal-coated polymer current collectors demonstrate a reduced risk of thermal runaway during nail penetration. META's new copper current collectors in Li-ion batteries allows us to reliably benchmark the safety improvements and increased gravimetric energy density that our technology provides relative to alternatives. In combination with META's second-generation, NPORE® nanocomposite ceramic separators, META is working with large OEMs and Tier 1 material companies to provide technologies that will protect Li-ion batteries in many applications.

"I am excited to collaborate with META and its top scientists, to advance battery technology and offer a solution that makes Li-ion batteries safer and more efficient," said Dr. Edward R. Buiel, CEO of Coulometrics. "META's advanced battery materials have the potential to solve some of the industry's biggest challenges."

The goals for the collaboration with Coulometrics include:

Roll-to-roll anode manufacturing with META's proprietary PLASMAfusion™ film-based, coated copper current collector products, designed to deliver the performance of solid copper foil while significantly reducing the component weight.

Cell assembly and characterization testing with META's proprietary NPORE® ceramic nanoporous separator products, which provide superior functionality and outstanding heat resistance for improved battery safety.

Safety testing including nail penetration, hot box testing, and crush testing, to independently validate the improved safety profile of batteries made with NPORE® separators and coated copper current collectors.

Dr. Buiel earned a Ph.D. in Physics from Prof. Dahn's lab at Dalhousie University. He has 28 years of experience developing lithium-ion battery and related materials. Before founding Coulometrics, Dr. Buiel served as the VP of Manufacturing for Pellion, CTO of Axion Power, and CTO of Ioxus. Coulometrics is a leading provider of energy storage consulting services and advanced battery component manufacturing. They possess a unique combination of expertise in graphite processing, materials analysis, slurry development, electrode production and full lithium-ion battery cells assembly and testing for both cylindrical and pouch cell form factors. Coulometrics has four lines for slot-die coating services and full production capabilities for up to 100,000 cells per month in any of the 14500, 18650, 21700, or 26650 formats.

About Meta Materials Inc.

META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more at www.metamaterial.com.

Forward Looking Information

This press release includes forward-looking information or statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to: expectations regarding capabilities of making safe and efficient Li-ion batteries; expectations regarding performance of the Company's new battery technologies; technology development relating to the Company's work with large OEMs and Tier 1 material companies; goals for the Company's collaboration with Coulometrics; and the business strategies, collaborations, product development, expansion plans and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the market potential of the products of the Company , the market position of the Company, the scalability of the Company's production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Annual Report on Form 10-K/A filed with the SEC on May 2, 2022, Quarterly Report on Form 10-Q filed with the SEC on May 10, 2022, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.

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SOURCE: Meta Materials Inc.