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.