Nanotech Co. Hits Big Turning Point

Source: Streetwise Reports   03/17/2022

This nanotech company says it is hitting an inflection point in the commercialization of its science and technology.

Once fodder for science fiction films, today’s nanotechnology is being applied to real-life products in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy.

Nova Scotia-based Meta Materials Inc. (MMAT:NASDAQ; MMAX:CSE; 1T01:FRA) hopes its KolourOptik Stripe technology will also soon power the graphics that safeguard the cash in your wallet. META, as the company is known, recently finalized its acquisition of Nanotech Security Corp., and its KolourOptik Stripe technology to safeguard currency.

“KolourOptik Stripe is designed to offer optimal banknote security with engaging and intuitive authentication effects,” META’s Executive Vice President of Sales Brian Donnelly told Canadian Coin News.

As a B2B provider to leading original-equipment manufacturers, META’s technology platform enables global brands to deliver breakthrough nanotechnology products. Other applications include self-deicing and defogging car and truck headlights, see-through antennas, and augmented reality glasses that look like other glasses and even have prescription lenses.

The acquisition of Nanotech Security, which closed in October 2021, gives META the manufacturing capacity to make nano-optic structures on thin films at high volume. About 47 patents came along with the company.

“We are at a critical inflection point in the commercialization of metamaterial science and technology. We are witnessing the convergence of scientific disciplines hastening opportunities to affect sustainability at scale, increase access to health care, decrease our dependance on rare earth and scarce materials, as well as improve health outcomes around the world.”

—META Chief Science Officer Themos Kallos

“We are at a critical inflection point in the commercialization of metamaterial science and technology,” said Themos Kallos, chief science officer of META. “We are witnessing the convergence of scientific disciplines hastening opportunities to affect sustainability at scale, increase access to health care, decrease our dependance on rare earth and scarce materials, as well as improve health outcomes around the world.”

KolourOptik Stripe is exclusive to the government and banknote market and combines subwavelength nanostructures and microstructures. The company previewed the technology at the Banknote and Currency Conference in Washington, D.C., in February.

“META has come a long way since filing its first patent application in 2011,” President, Chief Executive Officer, and Founder George Palikaras said during its March 2 earnings call.

A Transformative Year

The company posted a Q4 revenue of CA$2.29 million, up 748.1% YoY, driven by CA$1.8 million from the acquisition of Nanotech Security. But its Q4 net loss went from CA$5.8 million in 2020 to CA$29.5 million in 2021.

As of Dec. 31, 2021, the company’s cash and cash equivalents totaled $CA50.3 million, and it has no debt except for $CA3.2 million in interest-free loans from the Atlantic Canada Opportunities Agency. Its market cap was CA$514 million as of March 17, and its common shares outstanding were 284.81 million.

In addition to the purchase of Nanotech Security, META merged with Texas oil and gas exploration company Torchlight Energy Resources in 2021 and acquired the assets and intellectual property of Interglass Technology AG, a Swiss lens manufacturer that is the foundation for META’s augmented reality glasses technology.

“In 2021, our company was transformed by three acquisitions and significant capital raising,” Palikaras said. “We have used that to expand our capabilities, intellectual property facilities, as well as the size of our multinational team of subject matter experts.”

InvestorsObserver gave the company an overall rank of 61, which means that it ranks higher than 61% of stocks. The website said it considers available information about a company and compares it to other stocks it has data on to get that value.

Company to Focus on Operations

META also recently announced the appointment of two new leaders to its executive team, Chief Intellectual Property Officer Shann Kerner and Executive Vice President of Corporate Affairs and Chief of Staff Cindy Roberts. Kerner manages the company’s in-house expertise and rapidly growing intellectual property portfolio. Roberts is in charge of government and public relations. Both bring decades of experience to the company.

“Having become a Nasdaq-listed company and strengthened our balance sheet, META is now in a position to accelerate the development of our medical assets as well as to pursue additional strategic opportunities,” Chief Financial Officer and Executive Vice President Kenneth Rice said. “Dr. Kerner’s background will help to advance both these initiatives. I have worked with Dr. Kerner for over 15 years with superb results, and Ms. Roberts in her new role will ensure coordination within a rapidly expanding organization.”

Founded in 2011, META also recently launched an Ideas for Innovation initiative to accelerate metamaterial product breakthroughs. To that end, they will award grants in the categories of mobility and communications, imaging and display, energy and environment, healthcare, aerospace and defense, and “Way Beyond Tech.”

Rice said META expects to see revenues in 2022 from its banknote security technology, 5G applications, and electromagnetic interference technology.

“But the primary focus of ’22 for us is operational,” Rice said.

More about META, which has been named a Global Cleantech 100 company, can be found at www.metamaterial.com.

Disclosures:
1) Steve Sobek compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None. His/her company has a financial relationship with the following companies referred to in this article: None.
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