MISSISSAUGA, ON, Sept. 20, 2021 /CNW/ - Cymat Technologies
Ltd. (TSXV: CYM). Cymat Technologies ("Company" or
"Cymat") is pleased to announce the receipt of an order
for two underbelly blast protection kits from an Asian military
vehicle manufacturer. These kits will be used to complete final
product testing by the vehicle manufacturer's customer.
Cymat has been working for several years with this Asian
military vehicle manufacturer on the design and development of a
retrofit underbelly blast protection kit for the manufacturer's
existing family of troop–carrying vehicles. These long-serving
vehicles are used by numerous major military organizations around
the globe.
The principal purpose of these kits is to protect vehicle
occupants from the fatal effects of Improvised Explosive Devices
("IEDs"), or powerful land mines, by absorbing the blast energy
generated by the detonation of these devices. Cymat's
SmartMetalTM stabilized aluminum foam (SAF) has proven
to be particularly effective at absorbing and reducing the energy
of the compressed air wave that precedes these explosions. In
addition, SmartMetal'sTM exceedingly light weight means
that the kits add only minimal weight to the vehicles – a critical
requirment.
The ultimate destination for these kits is the vehicle
manufacturer's domestic military who, in turn, will use two fully
retrofitted vehicles for final independent vehicle blast testing,
scheduled for early December 2021.
Upon the successful completion of these tests, Cymat's customer
expects to receive a purchase order for kits to retrofit up to 700
vehicles, with an initial order of 300-400 kits. While final
pricing for these kits has not yet been established, Cymat
anticipates the potential value of the contract to be in the
$5M to $7M range.
Cymat CEO Michael Liik commented,
"This opportunity is the culmination of many years of design
collaboration and refinement with our customer and we are thrilled
to see this project finally move forward. The field data generated
by the successful implementation of Cymat's kits will quickly pave
the way for our customer to further market these kits to other
military organizations. We are especially excited about the
potential for the broader adoption of our kits by users of these
vehicles worldwide."
Mr Liik added, "After years of developing expertise in vehicle
underbelly blast protection, Cymat is finally on the cusp of
opening a significant new revenue stream. Success with this
contract would give us the credibility needed to substantially
expand our opportunities in the military sector."
About Cymat Technologies Ltd.
Cymat Technologies Ltd. has the global rights, through patents
and established know-how, to manufacture and sell 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 www.cymat.com.
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SOURCE Cymat Technologies Ltd.