Meta Materials Appoints Seasoned Executive, Jim Fusaro, as New CEO to Drive Next Stage of Growth

HALIFAX, NS / ACCESSWIRE / October 17, 2023 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT), an advanced materials and nanotechnology company, today announced that its Board of Directors has appointed Mr. Jim Fusaro as Chief Executive Officer, effective immediately. George Palikaras has been removed as President and CEO and is no longer with the Company.

Mr. Fusaro is a business leader with 35 years of experience in solar, semiconductor, advanced materials, and aerospace. He brings significant experience and success leading large change management initiatives and developing and implementing strategies to transform businesses and to drive value.

"On behalf of the Board of Directors, it is my pleasure to welcome Jim Fusaro as CEO of Meta Materials. He brings a wealth of leadership experience and a proven track record of driving high revenue growth. In his new role, Jim will be responsible for overseeing the strategic direction of the company and accelerating its commercial production," said Jack Harding, Chair of the META Board. "We are grateful for George's hard work, dedication, and valuable contributions during his tenure. His leadership has been instrumental in laying the foundation, and the board wishes him all the best in his future endeavors."

Mr. Fusaro has led a number of large-scale global businesses, including serving as CEO of Array Technologies, Inc. from 2018 to 2022. During his tenure with Array, he led a return to growth and profitability, took the company public in 2020 in the largest solar IPO of that year, raised substantial additional capital, and acquired STI Norland in 2022, making Array a global leader in utility scale solar trackers.

"I am honored to join Meta Materials and I am excited about the opportunities that lie ahead," said Jim Fusaro, META's new CEO. "META has strong talent, a broad nano technology platform and an impressive IP portfolio. I look forward to building on this foundation and leading the company at this pivotal stage of growth."

Prior to joining Meta Materials, Mr. Fusaro held leadership positions at Nanostone Water, Avnet, Honeywell, and Amkor Technology. He served as CEO of Nanostone Water and while at Avnet he was the SVP of IOT Business. During his time with Honeywell he served as President, Advanced Materials, Vice President Honeywell Operating System, and Vice President & GM, Mechanical Subsystems. At Amkor, Mr. Fusaro was Executive Vice President, Assembly & Test Business, and served in several other global management roles.

Mr. Fusaro holds a Master of Science in Mechanical Engineering from Rensselaer Polytechnic Institute and a Bachelor of Science in Mechanical Engineering from Arizona State University.

About Meta Materials Inc.

Meta Materials Inc. (META) is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. META® technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive and clean energy. Learn more at www.metamaterial.com.

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Forward Looking Information

This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the total available market and market potential of the products of the Company, the market position of the Company, the need to raise more capital and the ability to do so, the scalability of the Company's production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 23, 2023, in the Company's Form 10-K/A filed with the SEC on March 24, 2023, in the Company's Form 10-Q filed with the SEC on August 9, 2023, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.

SOURCE: Meta Materials Inc.