News Releases

Cymat Announces Purchase Order for Military Underbelly Blast Protection Kits from Asian Military Contractor

Mississauga, Ontario

September 20, 2021 – Mississauga, Ontario – Cymat Technologies Ltd. (TSXV: CYM). Cymat Technologies (“Company” or “Cymat“) is pleased to announce the receipt of an order for two underbelly blast protection kits from an Asian military vehicle manufacturer. These kits will be used to complete final product testing by the vehicle manufacturer’s customer.

Cymat has been working for several years with this Asian military vehicle manufacturer on the design and development of a retrofit underbelly blast protection kit for the manufacturer’s existing family of troop–carrying vehicles. These long-serving vehicles are used by numerous major military organizations around the globe.

The principal purpose of these kits is to protect vehicle occupants from the fatal effects of Improvised Explosive Devices (“IEDs”), or powerful land mines, by absorbing the blast energy generated by the detonation of these devices. Cymat’s SmartMetalTM stabilized aluminum foam (SAF) has proven to be particularly effective at absorbing and reducing the energy of the compressed air wave that precedes these explosions. In addition, SmartMetal’sTM exceedingly light weight means that the kits add only minimal weight to the vehicles – a critical requirment.

The ultimate destination for these kits is the vehicle manufacturer’s domestic military who, in turn, will use two fully retrofitted vehicles for final independent vehicle blast testing, scheduled for early December 2021. Upon the successful completion of these tests, Cymat’s customer expects to receive a purchase order for kits to retrofit up to 700 vehicles, with an initial order of 300-400 kits. While final pricing for these kits has not yet been established, Cymat anticipates the potential value of the contract to be in the $5M to $7M range.

Cymat CEO Michael Liik commented, “This opportunity is the culmination of many years of design collaboration and refinement with our customer and we are thrilled to see this project finally move forward. The field data generated by the successful implementation of Cymat’s kits will quickly pave the way for our customer to further market these kits to other military organizations. We are especially excited about the potential for the broader adoption of our kits by users of these vehicles worldwide.”

Mr Liik added, “After years of developing expertise in vehicle underbelly blast protection, Cymat is finally on the cusp of opening a significant new revenue stream. Success with this contract would give us the credibility needed to substantially expand our opportunities in the military sector.” 

About Cymat:

Cymat Technologies Ltd. is an innovative materials technology company employing a proprietary process to manufacture our unique Stabilized Aluminum Foam (“SAF”). Cymat SAF is an advanced lightweight recyclable material with a wide array of features including customizable density and dimensions, energy absorption and thermal and acoustic insulation. Cymat is focused on producing SAF for architecture, blast mitigation, automotive, transportation and industrial markets. Cymat’s architectural brand, Alusion™, has become an accepted choice for superior and unique cladding and façade alternatives for the building industry. The Alusion™ brand is recognized globally, having completed projects on almost every continent.

Cymat’s SmartMetal™ division has developed proven products for energy absorption applications including blast mitigation for the military sector and impact reduction for the nuclear energy sector. Cymat is working with numerous manufacturers and solution providers around the world for the integration of SmartMetal™ into kinetic energy management systems. Cymat is based in Mississauga, just outside Toronto, where it operates a 2.400 sq. metre plant. For further information on Cymat, please visit our Web site www.cymat.com.

For further information: please contact:

Investors and Media:

Michael Liik, CEO
Cymat Technologies Ltd
416-704-6217
liik@cymat.com

Investor Cubed Inc.:
Neil Simon, CEO
647-258-3310
nsimon@investor3.ca