Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Abakan Invests in Nanocomposite Ceramic-Metallic Coatings Technology and Completes Private Placement

Abstract:
Abakan Inc. (OTCBB: ABKI) is pleased to announce that it has entered into an investment agreement with MesoCoat, Inc., an Ohio based advanced nanocomposite ceramic-metallic (cermet) coatings company ("MesoCoat") and Powdermet, Inc., its majority shareholder.

Abakan Invests in Nanocomposite Ceramic-Metallic Coatings Technology and Completes Private Placement

Euclid, OH | Posted on December 21st, 2009

MesoCoat is building a diversified, patented product platform that consists of environmentally friendly coating compositions and breakthrough methods of applying coatings to large surface areas. MesoCoat was formed in 2007 to develop and commercialize its line of proprietary nanocomposite coating materials, and its fusion application technologies licensed from Oak Ridge National Laboratories. Initially, MesoCoat is focusing on obtaining product certification to introduce its PComP™ nanocomposite cermet chrome replacement materials in the aerospace and oilfield service industries and MesoCoat's CermaClad™ nanostructured metallurgically-bonded claddings into the oil and gas pipeline market. In the longer term, MesoCoat will introduce CermaClad™ into broader infrastructure and heavy industrial markets. MesoCoat's products address both the needs of OEM manufacturers and facility owner-operators, as well as maintenance and repair organizations (MROs) in the infrastructure, transportation, oil and gas, construction, mining, utilities, and agricultural markets.

MesoCoat's suite of nano-enabled coating technologies offers vast performance, economic, and environmental advantages over today's market-leading cladding and coating solutions to combat wear and corrosion in the world's toughest environments.

MesoCoat's patented PComP™ nanocomposite cermet materials offer the combined advantages of higher performance, and greater toughness and durability at a lower installed cost than competing and emerging alternatives, and are also substantially less toxic than other options. MesoCoat's patent pending CermaClad™ large area coatings and claddings provide metallurgically bonded coatings that can be applied at a fraction of the cost of the roll-bonded or weld clad products that they replace.

The investment agreement requires a series of investments over time the first of which has caused Abakan to acquire a non-controlling interest in MesoCoat. Additional investment amounts will increase Abakan's holdings to a controlling interest. MesoCoat has previously benefited from investment by JumpStart Ventures, a Cleveland-based non-profit venture development organization.

The first investment amount will be paid from Abakan's recently completed private placement of 4.6 million units at $0.50 per unit. Each unit is comprised of one (1) share of common stock and one half (˝) share purchase warrant that entitles the holder to purchase one (1) additional common share in exchange for one (1) share purchase warrant for a period of two (2) years at a purchase price of $0.75 per share.

Robert Miller, Abakan's chief executive officer, stated that "MesoCoat's suite of products represent the rare combination of a technology that is cheaper to utilize, is longer lasting and environmentally superior to the products that it will replace. We are confident that these technologies will transform the economics of multiple industries while offering substantial social benefit."

Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 8-K. Abakan's public filings may be viewed at www.sec.gov

####

About MesoCoat Inc
MesoCoat, Inc. is a new start-up company that is currently involved in the development of coatings for applications ranging from high-end aerospace applications to coatings for infrastructure such as roads and bridges.

MesoCoat, Inc. is a subsidiary of Powdermet, Inc. of Euclid, OH, another small business, and was founded to concentrate on the coatings industry as well as the development of new coating techniques. As such, MesoCoat benefits from the previous experience of Powdermet working on such contracts as a Phase II SBIR award from the Army to develop a thermally insulating, wear resistant coating for diesel engine applications. Working with Caterpillar, Inc. of Peoria, IL, Powdermet developed and characterized a series of thermal spray coatings that provided high wear resistance and were thermally insulating. The success of this program led the trial release of a line of cermet thermal spray powders to market and eventually to the patented “duplex” thermal spray powder concept. Additionally, this project and the subsequent trial release resulted in the identification of solutions to key cost drivers that are required to facilitate a market-changing product release.

MesoCoat, Inc. was formed as Powdermet Coating Technologies in 2007, to address coating application issues, and to commercialize nanocomposite cermet coatings formulations, and HDIR coating application technology originally developed within the Oak Ridge National Laboratories (at the Infrared Processing Center).

For more information, please click here

Contacts:
Anupam Ghildyal
Phone: 2164530866

Copyright © MesoCoat Inc

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Ag/ZnO-Nanorods Schottky diodes based UV-PDs are fabricated and tested May 26th, 2017

New metamaterial-enhanced MRI technique tested on humans May 26th, 2017

Controlling 3-D behavior of biological cells using laser holographic techniques May 26th, 2017

Unveiling the quantum necklace: Researchers simulate quantum necklace-like structures in superfluids May 26th, 2017

Announcements

Ag/ZnO-Nanorods Schottky diodes based UV-PDs are fabricated and tested May 26th, 2017

New metamaterial-enhanced MRI technique tested on humans May 26th, 2017

Controlling 3-D behavior of biological cells using laser holographic techniques May 26th, 2017

Unveiling the quantum necklace: Researchers simulate quantum necklace-like structures in superfluids May 26th, 2017

Patents/IP/Tech Transfer/Licensing

NREL’s Advanced Atomic Layer Deposition Enables Lithium-Ion Battery Technology: May 10th, 2017

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

Making Batteries From Waste Glass Bottles: UCR researchers are turning glass bottles into high performance lithium-ion batteries for electric vehicles and personal electronics April 19th, 2017

'Neuron-reading' nanowires could accelerate development of drugs for neurological diseases April 12th, 2017

Environment

Can crab shells provide a 'green' solution to malaria? Study shows how a mixture of chitin and silver nanoparticles inhibits growth of mosquito larvae May 12th, 2017

NanoMONITOR shares its latest developments concerning the NanoMONITOR Software and the Monitoring stations April 21st, 2017

Wood filter removes toxic dye from water April 21st, 2017

Making Batteries From Waste Glass Bottles: UCR researchers are turning glass bottles into high performance lithium-ion batteries for electric vehicles and personal electronics April 19th, 2017

Energy

Three-dimensional graphene: Experiment at BESSY II shows that optical properties are tuneable May 24th, 2017

Stanford scientists use nanotechnology to boost the performance of key industrial catalyst May 18th, 2017

Fed grant backs nanofiber development: Rice University joins Department of Energy 'Next Generation Machines' initiative May 10th, 2017

Discovery of new transparent thin film material could improve electronics and solar cells: Conductivity is highest-ever for thin film oxide semiconductor material May 6th, 2017

Aerospace/Space

Space energy technology restored to make power stations more efficient: Scientists use graphene to reinvent abandoned heat energy converter technology March 7th, 2017

Applied Graphene Materials plc - Significant commercial progress in AGM’s three core sectors March 3rd, 2017

Triboelectric Nanogenerators Boost Mass Spectrometry Performance March 1st, 2017

EmTech Asia breaks new barriers with potential applications of space exploration with NASA and MIT February 22nd, 2017

Industrial

Stanford scientists use nanotechnology to boost the performance of key industrial catalyst May 18th, 2017

Better living through pressure: Functional nanomaterials made easy April 19th, 2017

Rare-earths become water-repellent only as they age March 22nd, 2017

CRMGroup in Belgium uses a Deben three point bending stage in the development of new steel & coated steel products for automotive and other industrial applications March 21st, 2017

Alliances/Trade associations/Partnerships/Distributorships

California Research Alliance by BASF establishes more than 25 research projects in three years April 26th, 2017

BASF and Landa partner to create revolutionary pigments for automotive coatings: The alliance combines BASF innovations with Landa nano-pigment technology April 5th, 2017

Leti Announces EU/South Korean Project for World’s First 5G-system Prototype: Coinciding with the 2018 Winter Games in PyeongChang, Korea, Prototype Will Be First Time State-of-the-art Terrestrial Wireless Communication Is Seamlessly Combined with Disruptive Satellite Communicati April 4th, 2017

ATTOPSEMI Technology Joins FDXcelerator Program to Deliver Advanced Non-Volatile Memory IP to GLOBALFOUNDRIES 22 FDX® Technology Platform: Leading-edge I-fuse™ brings higher reliability, smaller cell size and ease of programmability for consumer, automotive, and IoT applications March 27th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project