CYMAT ANNOUNCES JOINT DEVELOPMENT AGREEMENT WITH MAJOR JAPANESE TRADING AND MANUFACTURING CO. | PR Newswire [Video]

, /PRNewswire/ – Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) (the “Company” or “Cymat“) is pleased to announce that it has entered into a Joint Development Agreement with an established, major Japanese trading and manufacturing company specializing in automotive, chemicals, plastics, electronics and life science products. The primary purpose of this agreement is to jointly develop innovative automotive solutions for EV battery function and protection based on customer demand. Cymat has already been collaborating with this company for almost a year to advance its first initiative in response to OEM interest.

The initial component that the partnership is developing is a lightweight, multi-functional automotive EV battery encasement targeted to a particular Japanese OEM. Cymat is contributing its previously developed composite solution for lightweight underside impact protection for an EV battery box. This component, originally developed and independently lab-tested for another EV OEM, incorporates an advanced stabilized aluminum foam (“SAF”) sandwich structure …