Next-Generation Batteries
- $373.416M Market Capitalization
Meta Materials Inc. (MMAT.Q) announced today that it has signed a Master Service Agreement (MSA) with Coulometrics, LLC. For context, Coulometrics is a leading provider of battery material development services, state-of-the-art battery assembly, testing services, toll coating, and battery contract manufacturing. This agreement is intended to validate META’s platform technologies.
“With the recent strategic acquisitions of Plasma App and Optodot, combined with our roll-to-roll high volume thin-film coating production facility in Quebec, we now have capabilities to make Li-ion batteries safer and more efficient,” said George Palikaras, President & CEO of META.
Let’s talk about that for a second. On April 4, 2022, META announced the acquisition of Plasma App Ltd. To summarize, Plasma is credited for the development of PLASMAfusion™, the company’s proprietary manufacturing platform technology. This technology enables high-speed coating of any solid material on any type of substrate.
With this in mind, META plans to integrate PLASMAfusion into its NANOWEB® and KolourOptik® films. Similarly, on June 22, 2022, META announced that it had signed a definitive agreement to acquire Optodot Corporation, a developer of nano-composite battery separators and infrared optical coating technologies. The Company intends to combine and coat Optodot’s products, namely NPORE®, using PLASMAfusion.
With all of the pieces now in place, META has outlined various collaboration goals with Coulometrics. For example, the Company intends to establish roll-to-roll anode manufacturing with PLASMAfusion film-based, coated copper current collector products. Ultimately, these products are designed to deliver the same performance as solid copper with a significantly reduced component weight.
More specifically, META’s products designed using PLASMAfusion will use 95% less copper or aluminum, have a lower manufacturing cost, and have a reduced risk of thermal runaway during nail penetration. For context, thermal runaway refers to one of the risks associated with lithium-ion (Li-ion) batteries. Thermal runaway can result in the ejection of gas, shrapnel, and high temperatures.
“I am excited to collaborate with META and its top scientists, to advance battery technology and offer a solution that makes Li-ion batteries safer and more efficient…META’s advanced battery materials have the potential to solve some of the industry’s biggest challenges,” said Dr. Edward R. Buiel, CEO of Coulometrics.
Additionally, META will work with Coulometrics to perform cell assembly and characterization testing using the Company’s NPORE ceramic nanoporous separator products. This is intended to ensure improved functionality and heat resistance for superior battery safety. Speaking of, the two companies will perform various safety testing.
Safety testing will include nail penetration, hot box testing, and crush testing, all of which will independently validate the safety profile of batteries made using META’s NPORE separators and coated copper current collectors. We have referenced “separators” a few times now, so let me explain. Put simply, a separator represents one of the most important cell components in a Li-ion battery.
The separator is responsible for separating the anode and cathode while facilitating ion transport. That being said, failure of a separator can result in a direct short between electrodes, leading to thermal runaway. Unlike traditional separators made with plastic, NPORE does not rely on plastic substrates. Overall, NPORE supposedly offers improved thermal stability and electrochemical performance.
In combination with META’s second-generation, NPORE, META is working with large OEMs and Tier 1 material companies to provide technologies that will protect Li-ion batteries in many applications. Keep in mind that the Global Lithium-Ion Battery Market was valued at USD$41.97 billion in 2021, and is expected to expand at a compound annual growth rate (CAGR) of 18.1% between 2022 and 2030.
META’s share price opened at $1.02 today, down from a previous close of $1.04. The Company’s shares were down -0.48% and were trading at $1.035 as of 10:45 AM EDT.