DuPont Teijin Films and Mitsubishi Electric Europe Partner with Meta Materials to Advance Safer, More Efficient Li-Ion Batteries

Project to Scale Production of New Current Collectors Using PLASMAfusion® Technology

HALIFAX, NS / ACCESSWIRE / November 1, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance smart materials and nanocomposites, today announced it has entered into a Memorandum of Understanding ("MOU") in partnership with DuPont Teijin Films and Mitsubishi Electric Europe. Using META's PLASMAfusion®, the parties plan to scale a proprietary, high volume, roll-to-roll manufacturing system for film-based, coated copper current collectors. The film-based products will reduce battery weight and cost, improve energy efficiency, extend vehicle range, and enhance safety against the risk of battery fires (known as thermal runaway) compared to standard Li-Ion batteries for electric vehicles and other use cases.

"Current Li-Ion battery innovations focus mainly on extending battery range and life span. With today's climate crisis and the increased demand for Electric Vehicles, a next generation Li-Ion battery is required that is more sustainable and safer," said George Palikaras, META's President and CEO. "We are excited to form a strategic alliance with Dupont Teijin Films and Mitsubishi Electric Europe focused on scaling PLASMAfusion® in a proprietary high volume battery coating system that can reduce copper volume and provide superior functionality, reduced cost, and improved battery safety."

The MOU is focused on developing battery materials, such as coated copper current collectors and solid-state battery electrodes, as a multi-year project in several stages: a pilot-scale roll-to-roll system, to be followed by an industrial scale mass production line, and further development of the application to the production of solid-state batteries. META will contribute the PLASMAfusion® technology platform, system development and independent testing of finished cells; DuPont Teijin Films will develop and supply the polyester substrates, and Mitsubishi Electric Europe will contribute automation technology, expertise, and interface to machine builders.

"We are confident that our thin polyester film manufacturing technology, coupled with our fundamental knowledge in polyester material science, will help deliver a solution to the lithium-ion battery market to improve safety and performance," said Dave Wall, Global Technology and Market Development Leader for DuPont Teijin Films. "This collaboration with Meta Materials and Mitsubishi Electric is a perfect example of how DuPont Teijin Films innovates alongside talented partners to meet global challenges."