very good news and the market does not care :( Project Arrow, launched by the APMA, is the first Canadian original, full-build, zero emissions electric concept vehicle ("EV"). This all-Canadian joint effort will be designed engineered and built by Canada's world-class automotive supply sector and post-secondary institutions. Details of this initiative can be found at www.projectarrow.ca.
Cymat and Tesseract will design and supply a number of components for specific areas of this new and innovative EV. The EV will utilize several next generation crash components developed by Tesseract that incorporate Cymat's light weight, energy-absorbing SmartMetalTM aluminum foam. Areas of the vehicle targeted for these components include doors, battery enclosures, and front and rear crash systems.
"This is an exciting opportunity for Cymat to showcase its innovative material together with Tesseract's cutting-edge designs for the rapidly expanding EV market," said Cymat CEO Michael Liik. He further added "The prominence of our material in Project Arrow along with the associated exposure to other key auto parts suppliers will undoubtedly open the door to further collaborations."