Abakan receives further validation from NASA

Abakan Inc. an emerging leader in the advanced coatings and metal formulations markets, today announced that its majority owned subsidiary, MesoCoat Inc. (MesoCoat), had two separate technology proposals selected for funding by NASA, under its Small Business Innovation Research (SBIR) programme, over thousands of competing proposals.

The NASA funding will enable MesoCoat to advance the development of two unique coatings solutions: 1) advanced coatings that self-lubricate to minimise friction and wear in extreme environments, and; 2) advanced nanocomposite coatings that can withstand extreme heat and facilitate high heat transfer for an extended period of time. MesoCoat has secured US$ 4.6 million in awards and low interest loans from federal and state agencies in just the past 3 months. The current NASA funding enhances MesoCoat's ability to scale-up commercialisation efforts and continue the development of our product portfolio.

Mr. Miller, Abakan's Chief Executive Officer, stated that "this funding further strengthens MesoCoat's relationship with NASA in developing and commercialising ground breaking material science solutions. The bigger picture is that the self-lubricating and heat-resistant coatings we expect to develop with this funding will not be limited to aerospace and nuclear uses but will include a wide variety of applications in the oil and gas, petrochemical, power and infrastructure industries, since friction wear and heat conservation is a major problem for several industries. Based on best estimates guided by research reports, published information, and independent research, the combined market for self-lubricating coatings and heat-resistant coatings is estimated to be approximately US$ 500 million annually."

"NASA is considered to be the highest authority in respect to materials, especially game-changing materials capable of producing a paradigm shift across several industries. We are extremely pleased that NASA continues to validate the potential for our advanced nano-structured coating materials,PComP (TM), and our disruptive high speed large-area coating application technology, CermaClad(TM). MesoCoat already has a space-act agreement with the NASA Glenn Research Center in Cleveland, at which location some of our development work is undertaken," added Mr. Miller.

Mr. Miller continued, "The funding from the Small Business Innovation Research (SBIR) programme has played an important role in the development and commercialisation of our products. We would like to express our sincere gratitude to the SBIR program which has consistently empowered our team to pursue high risk high reward product development. We continue to receive these highly prestigious awards and funding primarily because we understand how to mix and structure a variety of materials to achieve the desired output. Furthermore, we have the ability to apply these advanced materials onto a variety of tools and components at very high production rates. Our PComP(TM) technology platform has been consistently used to develop products that combine a variety of materials which do not usually go well together. In the process we develop a product that offers unrivalled properties, for example, our PComP(TM) coatings for oil and gas applications offer both high levels of hardness and toughness, which means that these coatings can withstand both impact and stress -- a feat that previously was considered impossible to achieve."

NASA, in a recent press release regarding this funding, Michael Gazarik, Associate Administrator for Space Technology at NASA Headquarters in Washington, stated "These projects are at the foundation of America's future in space and aeronautics. These selections are part of NASA's Space Technology Mission Directorate investment in new technologies that address several high priority challenges for achieving safe and affordable deep-space exploration."

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/28052014/abakan_receives_further_validation_from_nasa/