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Tekna receives $21.1 million investment from the Governments of Canada and Quebec

Canada Makes applauds the announced investment of  $21.1 million to help scale up TEKNA and create 170 new jobs as well as promote Canadian innovation.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced that the federal government will invest up to $21.1 million in advanced manufacturing company TEKNA Plasma Systems Inc. Minister Bains was joined by the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and Member of Parliament for Compton–Stanstead. Luc Fortin, Member for Sherbrooke, Minister of Families and Minister responsible for the Estrie region—on behalf of Dominique Anglade, Deputy Premier of Quebec, Minister of Economy, Science and Innovation, and Minister responsible for the Digital Strategy, and François Blais, Minister of Employment and Social Solidarity—announced a $9.4-million investment from the Government of Quebec. The total value of the project is up to $128.4 million.

“Quebec is a leader in advanced manufacturing. The sector will employ close to 1.7 million Canadians and contribute $183 billion, or 10 percent, to Canada’s GDP in 2018. Today’s investment will create 170 jobs in Sherbrooke and will help TEKNA scale up to reach new markets and compete globally. It is investments like this one that will position Canada as a global innovation leader today and tomorrow.” 
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

“By creating products that didn’t even exist yesterday, TEKNA is contributing to the manufacturing revolution brought on by 3D printing and Industry 4.0. We are writing tomorrow’s history today. This investment project, though unprecedented, builds on 28 years of engagement with excellence and proves strategic for the company’s development, growth and prosperity. We are extremely proud that our shareholder Arendals Fossekompani ASA supports the choice of Sherbrooke, the city where TEKNA was founded, as the place to carry out this promising plan.”
– Luc Dionne, Chief Executive Officer, TEKNA Plasma Systems Inc.

This investment in advanced manufacturing will help create 170 jobs in Sherbrooke, will help attract foreign direct investment, and will help TEKNA produce innovative metallic powders used in additive manufacturing and electronic products. Additive manufacturing, also known as 3D printing, allows for the design of complex metal parts that are lighter and more efficient and environmentally friendly than conventionally manufactured parts.

TEKNA’s project will help the company increase its total manufacturing production capacity and footprint in Sherbrooke and will advance next-generation manufacturing capabilities in Canada. It will also increase R&D, stimulate collaboration with Canadian post-secondary institutions, and help strengthen the Montréal–Sherbrooke advanced manufacturing cluster and supply chain.

About TEKNA Plasma Systems
TEKNA, a subsidiary of Arendal Fossekompani ASA (AFK: NO), has been conducting manufacturing of industrial plasma systems and metal powders for more than 25 years, based on their strong R&D leadership. Today, TEKNA (headquartered in Canada) is a world-renowned actor for the quality of its products and its ability to respond quickly to the growing demands of its customers.

Equispheres Announces Commissioning of Proprietary Atomization Reactor to Produce Metal Powders for Additive Manufacturing and Metal Spray; Files Patent Application for Atomization Technology

Equispheres inc.OTTAWA, ONTARIO — (December 29, 2015) — Equispheres Inc. (“Equispheres” or the “Company”) announces the successful commissioning of the Company’s flagship proprietary atomization reactor to produce metal powders for additive manufacturing (“AM,” also referred to as “3D printing”) and metal spray applications. The Company will begin marketing spherical metal powders specifically engineered for aerospace and defence applications in early 2016. Additionally, the Company announces that it has filed a patent application pertaining to its proprietary atomization technology.

Typical metal powders are produced primarily via two fluid gas atomization processes. The resultant powders produced are inherently flawed for demanding applications, such as AM and metal spray, in that the powders are irregularly shaped, have a wide size distribution, are not fully dense, and contain agglomerate particles. As a result of the aforementioned, a variety of defects can occur.

Equispheres’ patent-pending atomization technology consistently produces free-flowing, uniform, monograin, agglomerate-free spherical metal powders, which bring superior control and performance efficiencies not currently available. The Company’s metal powders have a narrow particle size distribution, excellent sphericity and flowability, and consistent microstructure — as produced, without sieving or classification — and are designed to significantly improve the quality of end use products.

Equispheres President and Chief Executive Officer, Kevin Nicholds, commented, “Today marks a major milestone for Equispheres and our shareholders. With the successful commissioning of our first commercial atomization reactor, we have demonstrated our technology can successfully produce metal powders with superior performance characteristics compared to powders currently available in the marketplace. Once the commissioning of the reactor is finalized, we will scale-up production capacity and convey materials to our aerospace industry partners for further testing and validation.

“Equispheres’ metal powders enable us to better support the manufacturing needs of aerospace and other industries,” stated Mr. Nicholds.

The planned commissioning phase is expected to be completed in approximately 90 days. Equispheres intends to be producing metal powders in commercial quantities by the end of the first quarter 2016.

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About Equispheres Inc.

A privately held Canadian company, Equispheres was established in 2015 to develop, manufacture and market its unique product line of ultra-high-performance spherical metal powders engineered for additive manufacturing (“AM” or “3D printing”) and metal spray applications.

Equispheres’ patent-pending atomization technology produces free-flowing, consistently sized, agglomerate-free spherical metal powders, which bring superior control and performance efficiencies not currently available. These metal powders have narrow particle size distribution, superior sphericity and consistent microstructure, designed to significantly improve the quality of customers’ end use products.

The Company’s innovative, patent-pending technology holds the potential to advance Metal AM and metal spray applications to the next level of industrial and commercial development. In addition, Equispheres has the materials development expertise, engineering, product testing, business development, and management experience to effectively bring its innovative metal powders to market — and in the shortest time possible. Equispheres endeavours to become a world leader in the metal powders industry — the fastest-growing segment of the AM materials market — and a disruptive supply source for the aerospace, medical, oil and gas, automotive, and defence sectors, among other industries.

Equispheres is a proud member of Canada Makes. For more information on Equispheres or to sign up for Equispheres news, updates and announcements, please visit www.equispheres.com.

Forward-Looking Information

This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Equispheres Inc. Investors and readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Equispheres Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this news release are qualified by these cautionary statements.

Contact

Mr. Kevin G. Nicholds
President and Chief Executive Officer

Equispheres Inc.
343 Preston Street
11th Floor
Ottawa, Ontario
K1S 1N4
Canada

+1 613-903-5855
info@equispheres.com