Meta Materials Granted Two New U.S. Patents for Next-Generation Battery Separators

Company Reaches Another Milestone with 410 Active Patent Documents

HALIFAX, NS / ACCESSWIRE / July 18, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ: MMAT, FSE: MMAT), a developer of high-performance functional materials and nanocomposites, today announced that two new U.S. patents were recently granted directed to second and third generation nanoporous ceramic battery separators. Including new patent filings and the patent portfolio acquired with the Optodot asset acquisition, META now has 410 active patent documents, including 251 issued patents and 159 pending patent applications. META's patent portfolio comprises 98 patent families, of which 57 include at least one issued patent.

"These newly granted U.S. patents are directed to our second-generation NPORE® nanoporous ceramic separator, offering superior safety for lithium-ion batteries, and third generation NPORE® ECS (electrode coated separator), which is designed to reduce the cost of manufacturing while improving battery safety, lifetime, energy, and power density," said Dr. Steve Carlson, Executive Vice President, Advanced Materials and Battery Products at META. "Together, these unique products are designed to address the key challenges facing the electric vehicle industry."

US Patent No. 11,387,521, issued July 12, 2022, is directed to an advanced nanoporous separator for lithium-ion batteries which has far superior safety properties such as better heat conductivity and non-shrinkage compared to conventional separators currently used in lithium-ion batteries. US Patent No. 11,387,523, issued July 12, 2022, is directed to a new generation lithium-ion battery in which the cathode is directly coated onto the separator. This technology reduces the complexity and expense of the equipment used to fabricate the battery, for flat and prismatic batteries that can be used, for example, in electric vehicles. This US patent also enables alternative manufacturing processes, such as where a non-dried, wet cathode is applied to the separator.

"Since we reported Q2 2021 on August 12th last year, META's patent portfolio has grown by 175%, to 410 active patent documents versus 149, and we are now approaching 100 patent families, more than double compared to 46 last year," said Dr. Shann Kerner, META's Chief Intellectual Property Officer. "I am particularly pleased to see these two key U.S. patents directed to next-generation battery materials issue, providing META a sustainable competitive advantage in an important, new market segment."

According to Yano Research Institute Ltd., the global market for Lithium-ion battery separators was an estimated $5.1 billion in 2021 and is projected to reach $9.0 billion in 2025). SNE Research estimates that separator shipments were about 5.5 billion square meters in 2021 and are projected to reach 15.9 billion square meters in 2025. About 15 million m² are required per GWh of battery capacity (10-20 million m², depending on the battery configuration). For more on META's battery materials please click here or visit https://investors.metamaterial.com/presentations

About Meta Materials 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 nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more at www.metamaterial.com.

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 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 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 1, 2022, with an SEC filing date of March 2, in the Company's Form 10-Q filed with the SEC on May 10, 2022, 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.

Media Inquiries

Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com

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Email: ir@metamaterial.com

SOURCE: Meta Materials Inc.