MIAMI — (BUSINESS WIRE) — May 21, 2012 — Abakan Inc. (OTCQB ABKI) (“Abakan”) is pleased to announce that Powdermet, a member of the Abakan group of companies, reports impressive progress on MComP™ nanocomposite metals commercialization, and enters into joint venture with Oshkosh Corp, Eck Industries, and the University of Wisconsin-Madison (UW) to further develop nanostructured high-strength light-weight metals.
Powdermet Inc. announces that it has made significant advancements to improve performance levels of its forged nanocomposite aluminum alloys. Working with the US Army and the National Science Foundation, Powdermet’s MComPTM micro-nanocomposite aluminum alloys have achieved 30-50% higher ductility than state-of-the-art high strength aluminum alloys such as aluminum lithium. Powdermet has devised a powder metallurgy process allowing the retention of nanocrystallites and ductile reinforcing phases throughout the powder forging or extrusion process, resulting in high strength aluminum materials requiring minimal machining. Competing Aluminum Lithium high strength alloys have tensile strengths of 50-70ksi with up to 12% ductility, whereas nanocomposite materials fabricated from Powdermet’s powders are showing 50-72ksi strength with up to 16% ductility. Powdermet has also shown nanocomposite aluminum alloys with up to 200ksi strengths with 1-2% ductility. MComPTM product development goals are to produce aluminum alloys having 100ksi strength with greater than 8% ductility without using expensive rare earth metals. Additional development goals include demonstrating thick cross-section part manufacturing using Powdermet’s newly acquired multimillion dollar deformation processing equipment, including its unique small footprint 5,000 ton press. According to BCC Research report titled ‘ Lightweight Materials in Transportation’; the total global consumption of lightweight materials used in transportation equipment was 46.7 million tons/$95.5 billion in 2010. This market is expected to reach 67.7 million tons/$125.3 billion by 2015, increasing at a compound annual growth rates (CAGRs) of 7.7% in tonnage terms and 5.6% in value terms between 2010 and 2015. The new strict weight and fuel efficiency requirements in the automotive markets coupled with the Corporate Average Fuel Economy (CAFÉ) standards are expected to add an additional $10-$20 billion in new market growth by 2015.
Powdermet is also pleased to announce it has joined a joint venture development team comprising Oshkosh Corp, an Oshkosh WI based specialty truck builder, Eck Industries Inc., a Manitowoc, WI based aluminum foundry; and with UW as the project leader, to develop and produce lighter, stronger aluminum and magnesium structural components “that will revolutionize the lightweight structures marketplace” by manufacturing high strength aluminum materials with the strength of steel, but at a much lower weight.
This joint venture will allow for wider adoption of ultra-light weight materials by greatly reducing the cost of these unique materials, and by taking their application from simple molded or machined parts into larger, complex metal castings. The work will expand on laboratory tests conducted by the UW that show that the incorporation of nanoparticles can greatly increase the performance of aluminum alloys at a lower cost than rare earth additions. However, due to their small size, nanoparticles are difficult to disperse homogeneously throughout a casting or billet, which is why Powdermet’s expertise and capabilities have been brought into the partnership. “This joint venture opportunity further strengthens Powdermet’s position at the forefront of nanotechnology, transitioning it into mainstream manufacturing of innovative technologies,” stated Brian P. Doud, General Manager at Powdermet.
About Abakan Inc.
Inc. is a publicly listed acquisition company that provides critical
financial, management and intellectual support to innovative companies
and technologies for realizing their true market potential.
invests in companies that have developed transformational technologies
on the cusp of commercialization.
is the largest shareholder in
each of which is a nanotechnology material science company involved in
technology development and commercialization.
is focused on metal asset protection and life extension by providing
advanced wear and corrosion solutions, while
is focused on metal formulations as well as advanced energy management
was recently recognized by Forbes as one of ‘
Most Promising American Companies’ and was the highest ranked
material science and nanotechnology company.
is also the recipient of four prestigious
100 awards, a
Innovation Program Award (TIP) for 100 year life coatings by the
National Institute of Standards and Technology (NIST), two
Innovation Awards for breakthrough materials and surface engineering
solutions, and several other federal and state grants and awards.
is a nationally recognized nanotechnology and advanced materials
research and development organization that has won approximately 100
federal and state awards, along with being a recipient of several
technology innovation awards like
Innovation Award .