Meta Materials

What Meta Materials does

Meta Materials Inc. (originally Metamaterial Technologies Inc.) was a Canada-domiciled, Nasdaq-listed (MMAT) advanced-materials platform company founded in 2010 and headquartered in Dartmouth, Nova Scotia. The company engineered metamaterials and functional nanocomposites — patterned structures that interact with light, electromagnetic energy, and acoustic waves in ways not found in nature — and packaged them into a portfolio of branded product lines including NANOWEB (transparent conductive film alternative to ITO), NPORE (nanoporous ceramic lithium-ion battery separator), NCORE (copper-reduced current collector), metaAIR (aviation laser-glare protection film), KolourOptik and LumaChrome (nano-optic banknote security features), ARfusion and holoOPTIX (augmented-reality optical components), PLASMAfusion (vacuum coating process), VLEPSIS (electro-optical/infrared sensing), and glucoWISE (non-invasive glucose monitor, under development). The underlying technology base included Rolling Mask Lithography acquired from Rolith, an ISO 9001 certified manufacturing facility, and a 500+ patent portfolio spanning nano-optics, battery materials, transparent conductors, and AR optics.

The business model combined direct B2B enterprise sales to global OEMs, joint development agreements with strategic partners (Panasonic Holdings, Airbus, Lockheed Martin Canada, Mitsubishi Electric Europe, DuPont Teijin Films, PPG), licensing/royalty arrangements, and channel distribution through Satair (aviation), Cornes Technologies (Japan/APAC), ADI Technologies (defense), and Crossover Solutions (automotive). Target segments were primarily Aerospace & Defense, Government/Banknote Security, Automotive, and Consumer Electronics, with secondary exposure to Energy/CleanTech, Medical, and Brand Protection. Notable commercial proof points included LumaChrome deployment in 30+ banknote denominations across 10+ countries and $6.2M of purchase orders from a G10 central bank customer; however, no recurring revenue base of material scale was ever disclosed publicly.

The company pursued an aggressive inorganic growth strategy, acquiring Lamda Guard (2014), Rolith (2016), Mediwise Ltd. (2018), Interglass (2020), Plasma App Ltd. (2021), and Nanotech Security Corp. for approximately $90.8 million CAD in October 2021, before completing a reverse merger with Torchlight Energy Resources to obtain its Nasdaq listing. Following multiple dilutive financings totaling more than $50M in 2022-2024, a 1-for-100 reverse stock split to maintain Nasdaq compliance, an SEC settlement, a class action settlement, a May 2024 workforce reduction, and ultimately a Chapter 7 bankruptcy filing in August 2024 with termination of all employees, the operating entity ceased to function as a going concern.

Name

Meta Materials

Legal name

Meta Materials Inc.

Website

https://metamaterial.com

Company type

Public

Founded year

2010

Operating status

Closed

Headcount range

101–250 employees

Short description

Meta Materials Inc. was a Canada-based advanced-materials platform company developing metamaterials and nanocomposites — including transparent conductive films, battery separators, laser protection films, and nano-optic banknote security features — sold to aerospace, defense, automotive, consumer electronics, and central-bank customers; it filed for Chapter 7 bankruptcy in August 2024.

Ownership category

akta.pro rank

Product category

Advanced Functional Materials

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing (3252)

SIC

Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Miscellaneous Chemical Products (2890), Plastics Products, Nec (3089)

akta.pro primary industry

Specialty Polymers & Resins (Engineered Materials) (IMAEABAK)

akta.pro secondary industries

Display & Optoelectronics Chemicals (OLED/LCD materials, polarizer chemicals) (IMAEAKAN), Optical & Specialty Sheet Extrusion (PMMA/PC Light Diffusers, Lens/Glazing Sheets) (IMANACAI)

Keywords

• Metamaterials technology
• Transparent conductive films
• Laser protection films
• Banknote security features
• Battery separator materials

Headquarters

HQ city

Dartmouth

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Advanced Materials and Nanotechnology Products: Revenue from selling advanced functional materials, metamaterials, and related products including NANOWEB transparent conductive films, KolourOptik and LumaChrome security features for banknotes and brand protection, NPORE ceramic separators, and metaAIR laser protection films. Products sold directly to OEMs and through distribution partners.
2. Licensing and Royalties: Technology licensing arrangements with OEMs across multiple industries including aerospace, automotive, consumer electronics, and energy. Platform technology company seeking to partner with leading OEMs for commercialization of proprietary technologies.
3. Joint Development Agreements: Revenue from joint development agreements with global OEMs for next-generation materials. Includes partnerships with Panasonic for automotive/energy, Lockheed Martin for solar, Airbus for aerospace, and battery materials development with global OEMs.
4. Government/Banknote Security Products: Sale of security features to central banks (G10 customers) and government agencies for currency authentication, government IDs, and secure documents. Purchase orders from G10 central bank customer totaling $6.2M.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Meta Materials was a platform technology company that developed and manufactured advanced functional materials and metamaterials, including transparent conductive films (NANOWEB), ceramic battery separators (NPORE), laser protection films (metaAIR), nano-optic banknote security features (KolourOptik, LumaChrome), and augmented reality lens technologies (ARfusion, holoOPTIX). The company sold these proprietary materials to OEM customers across aerospace, defense, automotive, consumer electronics, energy, and government/banknote security sectors through direct enterprise sales and channel partners.

Product overview

Meta Materials is a platform technology company that develops advanced functional materials and metamaterials for various industries. The portfolio includes core technologies like NANOWEB® (transparent conductive films as an alternative to ITO), NPORE® (ceramic battery separators), metaAIR® (laser protection films), and KolourOptik® (nano-optic security technology). The company offers products across multiple segments: security/counterfeit protection (LumaChrome™, LiveOptik™, KolourDepth™, QUANTUM™ stripe, NANO™ protect), augmented reality (holoOPTIX®, ARfusion®), battery safety (NCORE™, PLASMAfusion®), aerospace defense (VLEPSIS®), and medical diagnostics (glucoWISE®). The platform is built on proprietary metamaterial science that manipulates light and other forms of energy in ways not found in nature, enabling previously unachievable performance across optical, electromagnetic, and sensing applications.

Differentiator

Problem solved

Functional benefit

Brands

• NANOWEB: Transparent conductive thin film technology, one of the only viable alternatives to ITO (Indium Tin Oxide), offering high conductivity and optical transmission for consumer electronics and other applications.
• metaAIR
• KolourOptik
• LumaChrome
• LiveOptik
• NPORE
• ARfusion
• PLASMAfusion
• holoOPTIX
• QUANTUM
• VLEPSIS
• NCORE
• KolourDepth
• LivePortrait
• LiveLogo
• glucoWISE

Products and services

• NANOWEB

Quantifiable outcome

• LumaChrome used in 30 banknote denominations across 10+ countries for over 20 years
• +4 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature10 records

Partnerships

18 partnerships are on record, tiered core, major and minor.

• Panasonic HoldingscoreStrategic or Co-development Partner · 29 January 2026Panasonic Holdings entered a partnership with Meta Materials to co-develop next-generation transparent conductive materials targeting automotive and energy sector applications, including smart displays and related components. The collaboration aims to expand Panasonic's materials technology capabilities in vehicle and energy infrastructure electronics.
• Nanotech Security Corp.coreTechnology or Integration · 5 August 2021Meta Materials acquired Nanotech Security Corp. through a plan of arrangement for $1.25 per common share in an all-cash transaction valued at approximately $90.8 million. The acquisition gave access to Nanotech's nano-optic security features for government banknote and brand protection markets.
• Mediwise Ltd.coreTechnology or Integration · 10 July 2018Acquired Mediwise Ltd., a UK-based company, expanding capabilities in medical wireless sensing and diagnostics technology.
• Satair GroupcoreChannel Partner/ Reseller/ Distributor · 21 June 2017Satair Group signed memorandum of understanding and later distribution agreement to bring innovative laser strike protection (metaAIR) to global civil aviation and defense markets.
• Lockheed Martin CanadacoreStrategic or Co-development Partner · 1 June 2017Lockheed Martin Canada partnered with Meta Materials to support the development of metaSOLAR solar technology, marking Lockheed Martin's first solar investment in Canada. Charles Bouchard, CEO of Lockheed Martin Canada stated: 'We are pleased to see our ITB investment going to a great Canadian global innovator such as Metamaterial Technologies Inc.'
• RolithcoreTechnology or Integration · 21 February 2017Acquired Rolith's business including proprietary Rolling Mask Lithography (RML) technology and NanoWeb products, along with key employees and state-of-the-art R&D facilities in Silicon Valley.
• AirbuscoreStrategic or Co-development Partner · 4 June 2014Airbus partnered with Meta Materials (then Lamda Guard) to test and tailor metaAIR laser protection solution for aircraft cockpit windscreens. This was the first time an optical metamaterial nano-composite was applied on a large-scale surface for aviation.
• DuPont Teijin Films and Mitsubishi Electric EuropemajorStrategic or Co-development PartnerPartnership to develop safer, more efficient lithium-ion batteries using Meta Materials' battery material technologies including NPORE ceramic separators and NCORE current collectors.
• PPGmajorStrategic or Co-development PartnerAnnounced plans to develop electrochromic applications for ophthalmic optics in the extended reality market, combining Meta Materials' ARfusion technology with PPG's capabilities.
• SekisuiminorStrategic or Co-development PartnerCollaboration with Sekisui to improve 5G/6G communications infrastructure using Meta Materials' transparent antenna and waveguide technologies.
• ADI TechnologiesminorChannel Partner/ Reseller/ DistributorPartnership with ADI Technologies to access defense markets with Meta Materials' security and sensing solutions.
• Crossover SolutionsminorChannel Partner/ Reseller/ DistributorStrategic partnership with Crossover Solutions to enter automotive markets with Meta Materials' transparent conductive and antenna technologies.
• Artemis OpticalminorStrategic or Co-development PartnerPartnership to develop hybrid filtering technology combining optical filtering capabilities of both companies.
• Stanford UniversitymajorStrategic or Co-development PartnerJoined Stanford University SystemX Alliance Affiliates Program. Professor Mark Brongersma from Stanford joined Meta Materials' advisory board.
• Dalhousie University and MitacsmajorStrategic or Co-development Partner$1.62M collaboration with Dalhousie University and Mitacs to explore light manipulation and advanced materials research.
• CovestrominorStrategic or Co-development PartnerDeepened relationship with Covestro for materials development and commercialization.
• SataircoreChannel Partner/ Reseller/ DistributorDistribution deal with Satair to bring laser strike protection products to global aviation and defense markets.
• Cornes TechnologiesminorChannel Partner/ Reseller/ DistributorPartner for Japan market presence and booth sharing at industry events including Filmtech Japan and Automotive World Expo.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/metamaterialtechnologies
• LinkedInlinkedin.com/company/metamaterial-technologies-inc-
• Xx.com/Metamaterialtec

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries6 records

Funding overview

Funding rounds12 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Meta Materials