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Abakan Inc. (OTCQB: ABKI) ("Abakan") is pleased to announce that MesoCoat and Powdermet's revolutionary, high performance PComP™ nanocomposite coatings, which are used to extend the life of mechanical components such as valves, pumps, hydraulic cylinders, bearings, actuators, motors and drive shafts, have been recognized as the most significant materials science innovation of 2012 by R&D magazine. PComP coatings join such other breakthrough developments as polaroid film (1963), the ATM and Fax machine (1973), the LCD (1980), Taxol anticancer drug (1993), and HDTV (1988), among hundreds of other game changing developments, many of which dramatically changed our lives.
PComP is a family of nanocomposite coatings that offer 3-80X higher performance and lower cost compared to current technologies and products used to provide wear and corrosion resistance, such as chrome plating, physical vapor deposition, and laser cladding. The coatings combine very fine, near nano-scale ceramic particles with metal binders in a specific, hierarchical structure (think bricks and mortars, but at a scale 1000 times smaller than the head of a pin) that provides the extreme hardness of a ceramic such as diamond or glass, but simultaneously the toughness of a metal such as steel. Powdermet and MesoCoat have perfected how to accomplish this feat of engineering in a scalable, cost-effective manner and these materials are now commercially available in the US. Originally developed with support from the US Army to improve the performance of diesel engines by reducing frictional and heat losses, the coatings are produced by a thermal spray process that blasts highly engineered particles at a surface utilizing a modified hydrogen-oxygen rocket motor to produce strongly adhered, nanostructured coatings. The thermal spray coatings are relatively low cost to apply, produce no toxic wastewater (unlike competing nickel, cobalt, or chrome plating processes), and do not require expensive vacuum equipment such as Physical Vapor Deposition (PVD) alternatives. The coatings are used for both OEM components in mechanical, pumping, and fluid control systems, as well as dimensional restoration and life extension of worn components, making them "better than new". The engineered nanostructures result in significant advantages such as very low friction, easy and fast machining to tight dimensions and very low surface roughness, self-polishing/lapping ability, compatibility with mating polymer and metal surfaces, and combined wear resistance and toughness/resilience unmatched by conventionally engineered and naturally occurring materials.
Mesocoat, an Abakan Portfolio Company
MesoCoat's industrial products and technologies have already been the recipient of four prestigious R&D 100 awards including an 2011 R&D 100 award for its Cermaclad™ "artificial sun" megawatt-scale cladding technology, a Technology Innovation Program Award (TIP) for 100 year life coatings from the National Institute of Standards and Technology (NIST), and multiple NorTech Innovation Awards for high performance environmentally friendly coatings. The firm's technologies represent the fruits of over $60 million of development investment and collaborations with NASA, the US DOD, DOE & DOT, Fortune 100 sponsors and private investment firms in the development of its market-leading solutions. The firm's two primary solutions are CermaClad™ ("artificial sun" large area cladding process) and PComP™ (nanotechnology corrosion and wear coatings).
MesoCoat, a new leader in coating technologies, is a disruptive nanotechnology materials science company fast becoming globally known in metal protection and repair through their revolutionary "long life" coating and "high speed" cladding technologies. MesoCoat has developed high strength, high toughness ceramic-metallic materials and high speed fusion cladding processes providing unparalleled wear and corrosion resistance; and has verified performance, productivity, and cost benefits with industry leaders in Oil & Gas, Aerospace, Energy Generation, and Maritime industries. MesoCoat is now commercializing several of their products and services that are a direct replacement for hard chrome plating, as well as weld cladding processes to address the needs of both Original Equipment Manufacturers (OEM) and Maintenance and Repair Organizations (MRO). MesoCoat, Inc. is an Abakan, Inc. Portfolio Company.
About Abakan Inc.
Abakan, Inc. is a publicly listed acquisition company that provides critical financial, management and intellectual support to innovative companies and technologies for realizing their true market potential. Abakan invests in companies that have developed transformational technologies on the cusp of commercialization. Abakan is the largest shareholder in MesoCoat and Powdermet, each of which is a nanotechnology material science company involved in technology development and commercialization. MesoCoat is focused on metal asset protection and life extension by providing advanced wear and corrosion solutions, while Powdermet is focused on metal formulations as well as advanced energy management solutions. MesoCoat was recently recognized by Forbes as one of ‘The Most Promising American Companies’ and was the highest ranked material science and nanotechnology company. MesoCoat is also the recipient of four prestigious R&D 100 awards, a Technology Innovation Program Award (TIP) for 100 year life coatings by the National Institute of Standards and Technology (NIST), two NorTech Innovation Awards for breakthrough materials and surface engineering solutions, and several other federal and state grants and awards. Powdermet is a nationally recognized nanotechnology and advanced materials research and development organization that has won approximately 100 federal and state awards, along with being a recipient of several technology innovation awards like R&D 100 and NorTech Innovation Award.
About the R&D 100 Awards and R&D magazine
The Awards, widely recognized as the "Oscars of Innovation", have long been a benchmark of excellence for industry sectors as diverse as telecommunications, high-energy physics, software, manufacturing, and biotechnology. An independent judging panel and the editors of R&D Magazine select winners of the R&D 100 Award Recipients, which salutes the 100 most technologically significant products introduced into the marketplace over the past year. Since its founding in 1959 as Industrial Research, R&D Magazine has served research scientists, engineers and technical staff at laboratories around the world, providing timely, informative news and useful technical articles that broaden readers’ knowledge of the research and development industry and improve the quality of their work. R&D Magazine is a publication of Advantage Business Media (www.advantagebusinessmedia.com).
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 10-Q. Abakan’s public filings may be viewed at www.sec.gov.
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Chief Executive Officer
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