MesoCoat Takes a Giant Step towards Market Entry

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Euclid, Ohio, March 29, 2011 – MesoCoat Inc.will hold the groundbreaking ceremony for a new 11,000 sq. ft. manufacturing plant in Euclid, Ohio on April 7, 2011. MesoCoat sincerely hopes that all their stakeholders, mentors, partners, customers, and longtime supporters from the State of Ohio, Ohio Department of Development, JumpStart Inc., City of Euclid, NorTech, Case Western Reserve University, University of Akron, University of Dayton, Edison Materials Technology Center, NASA, Department of Energy, Department of Defense, and the National Institute of Standards and Technology will grace us with their presence on this significant milestone for MesoCoat Inc. and other emerging start-ups in Ohio.

The construction of this new facility is expected to be completed by September 2011, and it will take an additional two months to complete production set-up at this facility. MesoCoat is certain that with advent of 2012, they will be able to start full-scale production at this facility. This facility will have a single line ‘CermaClad™’ production set-up to produce around 10,000 square meters of corrosion- and wear-resistant clad tubes, pipes, and plates. This facility will provide a finished-end product and hence includes state-of-art equipment for blasting, application, and testing. To commercialize and qualify their PComP™ product line for end users in Aerospace, Oil and Gas, Mining, and Chemical Processing, this facility will also have a complete turnkey thermal spray solution system that includes blasting, thermal spray application, and finishing system set-up. Provisions have already been made for expansion of this plant in early 2012, which could double the size of this production facility.

Andrew Sherman, CEO, MesoCoat Inc. mentioned “Through the opening of plants like these, we are leveraging our deep industry knowledge and product innovation to build new long-term customer relationships.” The investment in this facility will create at least 30 new high-tech jobs in the region over the next three years, and will also lay the foundation for a new manufacturing facility planned in 2012 which would create another 60-70 jobs in Ohio. This facility is first in the series of six manufacturing plants scheduled over the period of next five years in the U.S., South America, and Asia. MesoCoat would like to sincerely thank the State of Ohio for its strong support since the very beginning. The seed investment of $220,000 through JumpStart, and now the $2 million Ohio Third Frontier award have played a very significant role in their success, and played a crucial role in helping them build their first full-scale production facility.

About MesoCoat:

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, a JumpStart, Inc. and Abakan, Inc. Portfolio Company.