Ferrotec Collaborates with Metamaterial on Technology Solution Path

- Ferrotec ( USA ) Corporation, the US subsidiary of Ferrotec Holdings Corp., a global supplier of materials, components, and precision system solutions, today announced that Metamaterial Inc., ("META") (CSE: MMAT), has collaborated with Ferrotec to validate aspects of their NanoWeb® production methodology using Temescal systems. Ferrotec's Temescal systems group was able to validate Metamaterial's process methodology and provide them with a technology solution path from cost-effective entry to high volume thin film production.

META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. NanoWeb® is a revolutionary transparent conductive film made of an invisible (sub-micron) metal mesh that can be fabricated onto any soft or rigid surface. Working with Ferrotec's Temescal systems group, META was able to validate aspects of their NanoWeb® production methodology using the Temescal UEFC-6100 system, the premiere electron beam deposition system for high volume thin film production, then purchase and adapt META's proprietary Rolling Mask Lithography® (RML) methodology to an entry-level Temescal FC-2800, matched to their current production volume needs.

"We rely on the expertise of Ferrotec and their ability to deliver high quality metallization processes in production scale for our design and wafer-scale manufacturing needs. Our customers in aerospace, for example, demand ultimate precision, and we depend on Ferrotec to meet these stringent requirements," said George Palikaras, President and CEO of Metamaterial, Inc. "We selected Ferrotec through a competitive process and were impressed by their quality, professional support and flexibility. They worked closely with our team to meet META's technical requirements and despite COVID-19 challenges they delivered on time."

"Metamaterial's technology has the potential to deliver breakthroughs across a range of applications and industries, and their unique technologies leverage thin films in transformative ways. Ferrotec's Temescal systems are well-suited to deliver the precision and uniformity required by these exciting technologies," said Imran Amirani , Director of Sales, Temescal Systems at Ferrotec. "We look forward to working with Metamaterial as their business volume grows and their production needs expand."

More information about Temescal system products from Ferrotec can be found at www.temescal.net .

More About Ferrotec
Founded in 1980, on a technology core of Ferrofluid magnetic liquid and Ferrofluidic® sealing products, Ferrotec Holdings Corporation (JASDAQ: 6890 (OTC)) is a worldwide leader in the supply of materials, components, and precision system solutions for industrial businesses. Ferrotec is a diversified world-class industrial organization with a global presence in a broad array of technology driven end markets (semiconductors, automotive, biomedical applications, smart phones, LEDs and FPDs). More information about Ferrotec's products can be found at www.ferrotec.com .

About Metamaterial 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 release includes forward-looking information within the meaning of Canadian securities laws regarding Metamaterial Inc. ("META") and its business, which may include, but are not limited to, statements with respect to the business strategies and operational activities of META. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "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 META and are based on assumptions and subject to risks and uncertainties. Although the management of META 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 companies, including risks regarding the ability, performance and usefulness of Temescal systems to validate META's processes, and, the ability of META to deliver breakthroughs across applications and industries, the potential for growth in META's business volume and the ability of META to expand its production needs. Although META 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 META 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.

The CSE has neither approved nor disapproved the contents of this news release.

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SOURCE Ferrotec ( USA ) Corporation