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Materia Receives DOE Grant for Carbon Fiber Reduction in Hydrogen Storage Tanks

PASADENA, CA -- (Marketwired) -- 05/22/14 -- Materia, Inc. announced today its award of a $2 million grant from the US Department of Energy (DOE) to apply its Proxima™ resin technology toward hydrogen storage tank manufacture. Materia will use the grant funds to leverage its resin's unique properties and reduce the amount of carbon fiber required in pressure vessels. Proxima resins are enabled by the Grubbs Catalyst™ technology, which was developed by Nobel Laureate Professor Robert H. Grubbs of the California Institute of Technology.

"Reducing the amount of carbon fiber required in hydrogen tanks will substantially lower manufacturing costs and hasten market adoption of fuel cell-based cars, buses, and trucks," stated Dr. Michael A. Giardello, Materia's President, CEO and CTO.

"Proxima-based composites exhibit fracture toughness and fatigue performance superior to that of current state-of-the-art thermosets," added Dr. Brian Edgecombe, Materia's Director of Materials R&D. "We look forward to beginning this exciting project and expect hydrogen tanks to become one of the many industrial applications that benefit from our resin's differentiated properties."

For more information, see the United States Department of Energy's press release here: http://energy.gov/eere/articles/energy-department-awards-7-million-advance-hydrogen-storage-systems.

About Materia
Materia was founded in 1998 to commercialize the Grubbs Catalyst™ technology, which enables chemical compounds to be synthesized with greater efficiency, under less stringent reaction conditions, and with reduced byproducts and hazardous waste. Metathesis has been accepted as an emerging chemical technology platform and has been broadly adopted by the pharmaceutical, chemical, and polymer industries. As stated by the Royal Swedish Academy of Sciences when awarding the 2005 Nobel Prize in Chemistry, "metathesis is an example of how important basic science has been applied for the benefit of man, society, and the environment." For more information, visit: www.materia-inc.com.

For further information please contact:
Tom Buel
Director of Communications
Materia, Inc.
(626) 584-8400

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