META Named 2021 Lux Innovator of the Year Award Winner
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HALIFAX, NS / ACCESSWIRE / October 4, 2021 / Meta Materials Inc. (the "Company" or "META«") (NASDAQ: MMAT)(FSE: MMAT) a developer of high-performance functional materials and nanocomposites, today announced that Lux Research has chosen META as one of the first-ever Lux Innovator of the Year Award winners. The awards are part of the Lux Executive Summit 2021, Putting Sustainability at the Heart of Innovation.
META's winning submission, A Sustainable Solution for the Promise of 5G in Dense Urban Environments, was based on its collaboration with Sekisui Chemical to develop a transparent and flexible radio wave reflection film to improve the performance and coverage of high speed 5G and future 6G networks. These high-speed signals are highly directional, have reduced signal range, and are easily blocked by objects in the environment, such as buildings and trees. Deploying large numbers of small cells in dense urban areas to fill dead spots in network coverage raises costs and creates challenges for wireless carriers. META and Sekisui are working towards developing a passive, more sustainable solution, which consumes no power and is expected to cost-effectively address this problem.
"It is a great honor to be chosen by Lux Research for this award, especially since sustainability is one of META's core values," said George Palikaras, President and CEO. "The solution we are developing with Sekisui is based on 100% recyclable materials, is transparent, and blends aesthetically into the urban environment. We can improve the everyday experience for network users both outside and within buildings and save energy by reducing the amount of hardware needed to provide good coverage."
"Lux Research selected Meta Materials as a 2021 Lux Innovator of the Year Award honoree for its Green 5G innovation. Earlier this year, META was able to form a strategic collaboration with Sekisui Chemical. Combining a special 2D metasurface nano-patterned layer provided by META with Sekisui's film processing technology, the new product is durable and transparent, yet diffusely reflects only radio waves, eliminating blind spots in communications. I would like to congratulate the team at Meta Materials who demonstrated breakthrough innovative thinking and best practices," stated Frank Brilliant, CEO at Lux Research.
In addition to dead spots created by dense urban architecture and outdoor obstacles, in-building penetration is also a challenge for the highest speed signals in the sub 6 GHz and millimeter wave ranges. META's NANOWEB┬« transparent metal mesh designs can be optimized to help signals penetrate exterior windows and the transparent film applied in interior locations is able to reflect signals at design-specific angles to reach throughout the building. More details are available at: metamaterial.com/industries/5g-communications/.
"We are grateful to see the META-Sekisui 5G reflector collaboration recognized for innovation by Lux Research," said Takashi Muramatsu, Executive Officer of Sekisui Chemical. "Together, we are developing a green 5G solution that uses no power, to improve network users' experience without spoiling the appearance of the urban environment."
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 achievements have been widely recognized, including being named a Global Cleantech 100 company. Learn more at www.metamaterial.com.
Forward Looking Information
This press release includes forward-looking information or statements within the meaning of Canadian securities laws and 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 the business strategies, 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 "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, including risks related to the potential benefits of the transaction with Nanotech, the capabilities of Nanotech's facility and the expansion thereof, research and development projects of the Company, the market potential of the products of the Company and Nanotech, the market position of the Company, the completion of the transaction, 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 Nanotech's team, 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" in the Company's Form 8-K filed with the SEC on July 23, 2021, and under the heading "Risk Factors" in the Company's Form 10-Q filed with the SEC on May 14, 2021, in the Company's Form 10-K filed with the SEC on March 18, 2021, 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.
Senior Vice President
SOURCE: Meta Materials Inc.
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