Cymat Technologies Ltd. announces development agreement with Japanese trading and manufacturing company

MISSISSAUGA — Cymat Technologies Ltd. announces that it has entered into a Joint Development Agreement with an established Japanese trading and manufacturing company specializing in automotive, chemicals, plastics, electronics and life science products. The primary purpose of this agreement is to jointly develop automotive solutions for EV battery function and protection based on customer demand. Cymat says they have already been collaborating with this company for almost a year to advance its first initiative in response to OEM interest.

The initial component that the partnership is developing is a lightweight, multi-functional automotive EV battery encasement targeted to a particular Japanese OEM. Cymat is contributing its previously developed composite solution for lightweight underside impact protection for an EV battery box. This component, originally developed and independently lab-tested for another EV OEM, incorporates an advanced stabilized aluminum foam sandwich structure featuring a version of its SmartMetal(TM). Cymat says that this component was proven to be 40% lighter and 15% less expensive than the incumbent high-strength steel solution.

The partnership’s initial objective is to enhance the component in terms of its battery functionality and level of impact resistance required by the targeted Japanese OEM. The new design is reportedly already undergoing physical testing to validate design performance metrics. The partnership is also in the process of filing patents to protect the elements of this design. As well, Cymat says that discussions are underway with a major Japanese Tier 1 automotive manufacturer to assemble this component.

Michael Liik, Cymat’s CEO and Chairman stated, “We are very excited to be working with a world-class partner on this new EV battery component. We believe that these modifications to our original OEM component will hold broader appeal throughout the automotive industry.” He added “This sector is highly motivated to utilize lighter, cost-effective, energy-absorbing materials in its quest to effectively compete in the new EV landscape.”