Nanotech company Meta Materials Inc. (MMAT:NASDAQ; MMAX:CSE; MMAT:FSE) has signed a joint development agreement with a confidential Top 10 battery original equipment manufacturer (OEM) for its NPORE® battery separator materials.
With electric vehicles (EVs) set to take over the highways, the Nova Scotia-based company said its products will make lithium batteries safer and more efficient while extending their range and making battery supply chains more sustainable.
NPORE® is a free-standing, flexible separator made with a ceramic nanomaterial that provides less than 1% heat shrinkage up to 220° C, META said. Conventional plastic separators shrink at higher temperatures, which can cause thermal runaway and battery failures.
"We see this as further validation of NPORE® and a catalyst for the shares," Water Tower Research analyst Graham Mattison wrote in a March 20 updated research note. "META has demonstrated the excellent electrochemical performance and outstanding heat resistance of NPORE® through both independent testing and a recently released white paper from a battery developer. This agreement shows the commercial potential of the product as well as a potential path to market."
"We believe Meta is well-positioned to secure partnerships with major companies over the next year," Alliance Global Partners analyst jake Sekelsky wrote.
META recently presented at the International Battery Seminar in Orlando, Fla., and was chosen as a finalist in its Best of Show awards program recognizing the best new battery products.
The company is applying its futuristic technology to the communications, health and wellness, aerospace, automotive, and clean energy sectors.
"We believe Meta is well-positioned to secure partnerships with major companies over the next year," Alliance Global Partners analyst jake Sekelsky wrote while initiating coverage of META in February. "We believe Meta's solutions have the potential to disrupt various end markets."
META President and Chief Executive Officer George Palikaras said the battery materials market is one of the largest the company is addressing.
"We see strong interest in our solution for safer, more efficient, and sustainable batteries," Palikaras said. "And we look forward to this global partnership."
The Catalyst: 'A Significant Growth Curve'
The company recently received a new patent in connection with its battery innovations. It was directed to batteries that use novel separators, including NPORE® separators.
META now has 501 active patent documents, of which 315 have been issued.
The lithium-ion battery market is expected to reach US$135 billion by 2031, according to a report by Markets and Markets.
"META is at the early stage of what we expect will be a significant growth curve as its technologies are incorporated into many of today's products in a range of industries," Mattison wrote. "The company's growing portfolio of technologies, along with its production capabilities, partnerships, and deep patent portfolio, give META a competitive advantage as it works to penetrate addressable markets that are collectively well in excess of US$50 billion."
The new patent is directed at lithium batteries where the anode, or negative electrode, comprises a dispersion or "wet" layer of the anode materials. A second related patent is expected to be issued shortly, the company said.
"NPORE® provides outstanding heat resistance compared with conventional polymer separators, which show significant shrinkage at elevated temperatures due to the melting of the polymer," Mattison wrote in a March 14 note.
Driven by the EV boom, the lithium-ion battery market is expected to reach US$135 billion by 2031, according to a report by Markets and Markets. Future Market Insights Inc. said the global lithium-ion battery separator market could be worth US$3.2 billion by 2032.
Making a Buzz at CES
Developed first in the 1960s, design and manufacturing capabilities caught up to metamaterials in the 2000s.
META is using them to develop nanotechnology products like self-deicing and defogging car and truck headlights and windows, see-through antennas, augmented reality glasses that look like regular glasses, and special eyewear that protects pilots' eyes from laser strikes.
At the Consumer Electronics Show this year, META was named a 2023 Innovation Awards honoree for its NANOWEB® transparent film to clear up microwave windows.
At the Consumer Electronics Show this year, META was named a 2023 Innovation Awards honoree for its NANOWEB® transparent film to clear up microwave windows.
A microwave display, with its completely clear window, drew big crowds on the conference floor. On Day 2 of the show, META was the most talked about brand at CES according to social media trend tracker BuzzRadar.
Streetwise Ownership Overview*
Meta Materials Inc. (MMAT:NASDAQ; MMAX:CSE; MMAT:FSE)
NANOWEB® is also used to de-ice auto sensors and manufacture antennas and electrochromic lenses for augmented reality and 5G reflector films.
Ownership and Share Structure
About 15% of META is held by management and insiders, according to Yahoo Finance. Among them is President and Chief Executive Officer George Palikaras, who owns 8.3% or 29.9 million shares, Reuters reported.
Yahoo said about 11% of the company is held by institutions. Some of the top holders are State Street Global Advisors (US), with 4% or 14.49 million shares, and Nova Scotia Innovation Corp., with 3.45% or 12.5 million shares, according to Reuters.
The rest, 74%, is retail.
The company has a market cap of $182.1 million, with 362.2 million shares outstanding and 307.5 million free-floating. It trades in a 52-week range of US$2.34 and US$0.48.
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