META® reaches major milestone to qualify a global mass supplier for NANOWEB® and is ready for customer application development and volume scale-up agreements

HALIFAX, NS / ACCESSWIRE / July 19, 2023 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a global leader in advanced materials and nanotechnology, and a leading innovator in the field of transparent conductive materials, announced today that it has reached a major milestone in the commercial deployment of its NANOWEB product line through a strategic collaboration with a leading global manufacturer in Japan. The Company is ready for customer application development and volume scale-up agreements.

The strategic collaboration combines the design power of META's metal mesh technology with the supplier's exceptional production capabilities in transparent conductive films. Together, this collaboration will offer cutting-edge alternatives that surpass industry standards and set new benchmarks for the mass production of META's NANOWEB, a transparent conductive metal mesh film.

"This is a major milestone in our work to commercially deploy NANOWEB, and we're proud to qualify a global contract mass manufacturer of choice. We have been working closely since February of 2023 with the manufacturer, and we are extremely pleased with the results of our quality tests," said George Palikaras, President and CEO of META. "We're excited to move forward, and we're ready to develop customer-specific applications and enter into volume scale-up agreements."

The collaboration with a global supplier recognized for its manufacturing expertise and automotive quality, is expected to deliver ground-breaking solutions designed to revolutionize the transparent conductive materials sector with new applications for the consumer electronics and automotive industries. To date, the agreement has facilitated the scaling, mass production, and testing of NANOWEB designs in samples up to 600mm wide.

A Master Service Agreement between the two companies to collaborate and innovate for advanced solutions designed to push the boundaries of transparent conductive materials has been in place since February 8, 2023. More details around the strategic collaboration are expected to be announced in the fall.

About Meta Materials Inc.

Meta Materials Inc. (META®) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. META's technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive and clean energy. Learn more at www.metamaterial.com.

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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 ability of the Company to deliver on mass production of transparent conductive materials through a preferred supplier relationship, 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 "pursuing", "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, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the total available market and market potential of the products of the Company, the market position of the Company, the need to raise more capital and the ability to do so, 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 our employees, 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" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 23, 2023, in the Company's Form 10-K/A filed with the SEC on March 24, 2023, in the Company's Form 10-Q filed with the SEC on May 12, 2023, 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.

SOURCE: Meta Materials Inc.