BOSTON, MA – January 12, 2012 – The protective coatings market continues to be driven by extreme cost sensitivities and increasing environmental and regulatory considerations, even though its products have great potential to reduce inefficiency and degradation of industrial equipment caused by friction, corrosion and fouling, according to a Lux Research report titled, “Fighting Corrosion, Friction, and Fouling: The Power of Protective Coatings.” To see which companies are best positioned to prosper in the current market environment, Lux Research applied the Lux Innovation Grid to rate materials developers.
“Users must strike the right balance between performance concerns along with industry factors including cost tolerance, regulatory drivers, throughput, volume, and qualification timelines,” said Ross Kozarsky, Lux Research Analyst and the lead author of the report. “While a variety of other approaches exist, using coatings to address these problems builds resistance into the equipment itself and can limit consumables, maintenance, and environmental impact.”
Lux researchers positioned specialists in novel coating materials, manufacturing methods, and deposition processes on the Lux Innovation Grid based on their Technical Value and Business Execution – companies that are strong on both axes reach the “Dominant” quadrant. Lux also assessed each company’s maturity, and provided an overall Lux Take. Among their conclusions:
Modumetal joins Integran in making the electroplated metals space sizzle. With its nanolaminate approach, Modumetal has made significant headway to find a place in the “Dominant’ quadrant. Over the past year, it has begun a joint venture with Steel Dynamics, added Siemens as a customer, and ramped up a full production line.
MesoCoat rises as the chrome alternative option. MesoCoat’s technical potential – thermally sprayed nanocomposite ceramic‐metallic (cermet) coatings and metal claddings as alternatives to toxic chrome – combined with its significant business progress over the past year, including a deal with Petrobras, has brought it to the threshold of the “Dominant” quadrant.
Nanogate tops polymer coating developers. With an IP chest fortified by the acquisition of Gesellschaft für Oberflächentechnik, sol–gel polymer coating developer Nanogate Technologies beats the competition on both technical value and business execution. Its partnerships with Clariant, Dow Corning, Bosch and GEA Air Treatment have helped make it a formidable player.
I–Tech is an intriguing “High‐Potential” candidate. In the marine industry, there’s huge potential for anti–fouling coatings because of their ability to boost fuel efficiency. Sweden–based I–Tech is developing a new coating based on medetomidine — best known for its use as an animal sedative but also offering 300 times the anti–fouling activity of incumbent cuprous oxide paints.Its business execution doesn’t yet match its high technical value score, placing it in the “High–Potential” quadrant.
The report, titled “Fighting Corrosion, Friction, and Fouling: The Power of Protective Coatings,” is part of the Lux Research Advanced Materials Intelligence service.
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About MesoCoat, Inc.:
MesoCoat, the new Duracell® of the coating industry, is a venture–backed nanotechnology materials science company fast becoming a world leader in metal protection and repair through their revolutionary “long life” coating and “high speed” cladding technologies. The company’s transformational surface engineering technologies have already been the recipient of three prestigious R&D 100 awards, a National Institute of Standards and Technology (NIST) award for ‘100-year life coatings for infrastructure’, and the NorTech Innovation Award for environmentally–friendly coatings. Through partnerships with the Departments of Defense and Energy, and leading Oil and Gas companies; 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 a JumpStart, Inc. and Abakan, Inc. Portfolio Company.
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 8–K, Form 10–K and Form 10–Q. Abakan’s public filings may be viewed at www.sec.gov.
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