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Thursday, February 1, 2007
Metafoam Technologies closes Series A financing round
Company to launch first metal foam-based products for thermal managementBoucherville, Quebec, February 1st, 2007 Metafoam® Technologies Inc., a leading edge manufacturer of innovative open-cell metal foam for applications
in thermal management, electrochemistry, energy, acoustics and environmental solutions, is proud to
announce that it has received a multi-million dollar investment from BDC Venture Capital, FIER ID, MSBi
Capital, and M&M Investments. This important injection of capital completes a $3.4M first round of financing.
It will allow the company to pursue its development & commercialization efforts, establish new partnerships
and set up a larger facility for the production of metal foam prototypes and products. "The financial backing by such reputable investors is the recognition of the competitive advantages of our
platform and of its wide range of applications", said Dominic Pilon, Metafoam's Founder, Vice-President R&D,
and CTO. "Our metal foams possess the highest specific area in the industry, high manufacturing process
repeatability, and significantly lower production cost. This allows us to go after markets that until recently
could not even contemplate using metallic foams. The company is presently looking to develop strong
relationships with players in electronics cooling and electrode manufacturing, including for hydrogen
production." "For me, this investment is first and foremost the result of the determination of a young entrepreneur, Dominic
Pilon, with whom M&M Investments has partnered in the past two years. Metafoam inherits what it worked
for: financial supporters that will make a difference", declared Michel Brûlé, Chairman of the Board of
Metafoam and President of M&M Investment. "The success of this first round of financing and the fact that a number of investors became involved attest to
Metafoam?s potential," said Réjean Asselin, Director, Technology Seed Investments at BDC. "ID Capital believes that metallic foams are poised to provide break-through performance enhancements to a
variety of industrial processes and high-end products, in particular the areas of thermal management and
electrochemistry show great promise", added Daniel Cyr, Managing Partner ID Capital. "MSBi is proud to lend its support to a company looking to establish strong partnerships with global players in
the $5B electronics cooling market and has a strong upside in cleantech and energy applications", said Chris
Arsenault, Partner at MSBi Capital. "We have high expectations of Metafoam?s capabilities to deliver
innovative metal foam products into rapid-growth markets such as the energy market". About Metafoam
Metafoam Technologies Inc. is specialized in the development and commercialization of innovative open-cell
metal foam solutions. Metafoam is revolutionizing the open-cell metal foam industry by offering lower
production costs, greater control on several key product parameters, and the highest specific surface area in
the industry. As such, Metafoam is exceptionally positioned to address a wide range of industrial problems in thermal management, electrochemistry, and other high added value market segments. Additional information
about Metafoam is available at www.metafoam.com. About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's
development cycle, from seed through expansion, with a focus on technology-based businesses that have high
growth potential and are positioned to become dominant players in their markets. BDC Venture Capital has
been involved in venture capital since 1975, and has to date invested in more than 400 different companies.
It currently manages approximately $550 million in venture capital assets invested in the areas of Life
Sciences, Telecommunications, Information Technology, Advanced Technologies and Fund Investments. For
more information, see www.bdc.ca. About FIER ID and ID Capital
FIER ID, s.e.c. is a fund managed by ID Capital, a venture capital firm which invests in innovative start-up
businesses located mainly in the greater Montreal area. The businesses targeted by ID Capital must have
developed innovative technologies or products that can be protected through patents and must show vast
market potential. Additional information about ID Capital is available at www.idcapital.ca. About MSBi Capital
MSBi Capital is a seed and early stage venture capital fund dedicated to commercializing innovations in
information technology, life sciences, and the physical sciences. MSBi Capital has a particular focus on
establishing and building companies based on technology advancements and inventions originating from the
universities of McGill, Sherbrooke and Bishop's, as well as their affiliated hospitals and research institutes.
More information about MSBi is available at www.msbi.ca. About M&M Investments
M&M Investments is a private investment fund created to assist emerging companies to maximise
capitalization of their competitive advantages.
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