Steve Carlson President & CEO of Optodot. We are excited for the next chapter of our growth with META," said Dr. "Optodot has been pioneering technologies that make batteries safer for the last two decades in collaboration with leading OEMs, innovative start-ups, and U.S. About 15 million m 2 are required per GWh of battery capacity (10-20 million m 2, depending on the battery configuration). Separator shipments were about 5.5 billion square meters in 2021 and are projected to reach 15.9 billion square meters in 2025 (Source: SNE Research). The global market for Lithium-ion battery separators was an estimated $5.1 billion in 2021 and is projected to reach $9.0 billion in 2025 (Source: Yano Research Institute Ltd.). Together with Dr Carlson's team we look forward to helping drive the growth of safer and more sustainable transportation." Through this strategic acquisition, META expands its nanomaterials library and core expertise to address key challenges in battery safety and other applications, opening multi-billion-dollar markets. "Optodot has developed disruptive, high performance ceramic nanomaterials in partnership with leading battery and medical equipment OEMs. Batteries need to be reliable and safe, while reducing cost to drive wider adoption," said George Palikaras, President and CEO. Consumers want EVs with increased range and rapid charging to get back on the road quickly. "The race to electrification and a new world in which electricity replaces gasoline and diesel is just getting started. Additional potential applications for NANOPORE® nanoporous membrane technology include ultrafiltration and medical metamaterial devices. META will strengthen its proprietary portfolio of battery materials with NPORE® nano-composite ceramic separators to enhance safety, performance, and cost in electric vehicles. Optodot products can be combined and coated with META's PLASMAfusion™ technology, and META plans to expand capacity at its facility in Thurso, Quebec. META's Advanced Materials and Battery Products group will continue joint development, licensing, and manufacturing scale-up of Optodot's technology in partnership with leading OEMs. Steve Carlson, its President & CEO, who was recently honored as the 2022 Inventor of the Year by the New York Intellectual Property Law Association (NYIPLA) for pioneering safer separators for rechargeable lithium-ion batteries. The acquisition is expected to close in June, subject to customary closing conditions and regulatory approvals. Optodot is a leading developer and licensor of nano-composite battery separators and infrared optical coating technologies, based in Devens, Massachusetts. (the "Company" or "META®") (NASDAQ:MMAT, FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced it has signed a definitive agreement to acquire substantially all of the assets and intellectual property, including 67 issued and 22 pending patents, of Optodot Corporation ("Optodot") for an aggregate of $48.5 million, comprised of $3.5 million in cash and $45 million of META shares of common stock. HALIFAX, NS / ACCESSWIRE / J// Meta Materials Inc. was incorporated in 2007 and is headquartered in Dartmouth, Canada.Agreement to Acquire Assets and Extensive IP Portfolio of Optodot Corporation and changed its name to Meta Materials Inc. The company was formerly known as Torchlight Energy Resources, Inc. Its customers are OEM providers in various industries, including aerospace, automotive, consumer electronics, communications, energy, banknote and brand security, and medical devices. The company also develops and produces nano-optic structures and color-shifting foils that are used in authentication and brand protection applications in various markets, including banknotes, secure government documents, and commercial branding, as well as engages in the research, development, and manufacture of smart materials. Its products include metaAIR, a laser glare protection eyewear NANOWEB, a transparent conductive film holoOPTIX, a holographic optical element glucoWISE, a non-invasive glucose measurement device and metaSURFACE, which allows an enhancement in signal to noise ratio of up to 40 times for magnetic resonance imaging scans. invents, designs, develops, and manufactures various functional materials and nanocomposites.
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