META Materials Plans Focus on Security

META Materials Inc, a developer of high performance functional materials and nanocomposites which acquired security feature specialist Nanotech Security Corp in 2021, has announced details of a restucturing plan that will see it focus on core business lines that are either generating revenues, or expected to do so in the near future.

Earlier this year, the company raised doubts about its ability to continue to operate as a going concern given its high level of cash burn (see CN March 2023), stating that it needed to raise additional capital and reduce expenses.

The company followed this up with a Realignment and Consolidation Plan, which was approved by the Board in June, and which involves a concentration on three core, and productive, areas – Photonic Materials, Electro Optics and Battery Materials.