TORONTO, Nov. 25, 2019 /CNW/ - Cymat Technologies Ltd. (the "Company" or "Cymat") is pleased to provide an update on the application of Cymat's SmartMetal™ Stabilized Aluminum Foam (SAF) by their customer, Nobel Sport. Nobel Sport is a French-based law enforcement specialty manufacturer of a wide range of ammunition and ancillary products for sport, law enforcement and military customers.
Cymat has delivered over 38,000 SmartMetal™ cylinders to Nobel Sport to be used in their manufacture of non-lethal bullets, which are safer, more accurate and less harmful compared to current products in the market. These non-lethal bullets were in turn provided to the French Armed Forces for evaluation and testing in 2018. After successful completion of rigorous testing, the French Armed Forces has now certified these non-lethal bullets for active use. Consequently, Nobel Sports anticipates receiving their first commercial-scale order for same from the French Armed Forces imminently.
Non-lethal bullets are primarily used for crowd control and as a deterrent in both civilian and military situations where less-than-lethal force is determined to be the best course of action. While rubber bullets have traditionally been used in these situations, there have been numerous instances where their use has resulted in serious physical harm and fatalities. As such, there is significant interest by law enforcement agencies and military forces around the world to find a suitable replacement.
According to a recent report, non-lethal ammunition sales exceeded $800 million in 2018 and are expected to reach well in excess of $1 billion by 2023 (Source: https://www.globenewswire.com/news-release/2019/02/19/1734079/0/en/Less-Lethal-Ammunition-Market-Global-Forecast-to-2023-Focus-on-Rubber-Bullets-Bean-Bag-Rounds-Plastic-Bullets-Paintballs.html).
As a result of this certification from a large and prominent military, Nobel Sport now intends to commence an aggressive international marketing program for these non-lethal bullets.
Michael Liik, Cymat's CEO states "We are excited to be working with Nobel Sport, an established leader in their field. This certification by the French Armed Forces positions them well to drive additional sales on a global basis". "This represents a large market opportunity for Cymat and a substantial new revenue stream" he added.
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.
Cymat Technologies Ltd.
CONTACT: Investors and Media: Michael Liik, CEO, Cymat Technologies Ltd, 416-704-6217, firstname.lastname@example.org; Investor Cubed Inc.: Neil Simon, CEO, 647-258-3310, email@example.com
Web Site: http://www.cymat.com