Materia, Inc.

Composite rebar being installed. Photo Credit: ExxonMobil ExxonMobil subsidiary Materia (Pasadena, Calif., U.S.), NEG-US (Shelby, N.C., U.S.) and GatorBar (Ahmeek, Mich., U.S.) have formed a strategic alliance committed to increasing the market share of composite rebar within the concrete reinforcement sector. ExxonMobil’s Materia Proxima polyolefin thermoset resin systems, and glass fiber from NEG-US, is used to produce GatorBar, an industry-leading, glass fiber-reinforced composite rebar (GFRP). Data from ASTM tensile strength tests demonstrate that GatorBar is 2-4 times stronger than steel, making it suitable for a broad range of building and construction applications. GatorBar is also 4-7 times lighter than steel, resulting in significantly improved handling and ease of use characteristics. This creates opportunities for total project savings through reduced labor and decreased shipping costs. GatorBar’s corrosion resistance improves maintenance and longevity of the concrete in which it is used. The ultra-low viscosity and snap cure of Proxima, paired with the proprietary process technology of GatorBar and the consistency of NEG’s glass fiber and roving, reportedly enables production speeds up to 20 times faster than traditional composite rebar. This process efficiency is said to make GatorBar one of the most economic composite rebars on the market and a cost competitive alternative to most steel rebar. The proprietary sizing technology of NEG-US glass fiber and the rapid wetout in the Proxima resin systems reportedly enables GatorBar to have composite mechanical properties superior to steel in tensile strength at a substantially lighter weight. NEG also leverages its glass chemistry expertise to target a composition that strengthens GatorBar’s resistance to corrosion. “As well as expanding our manufacturing capacity recently by more than twofold, this new strategic alliance has been established with partners making the same level of aligned commitment to capitalize on the tremendous potential of the rebar market,” says Erik Kiilunen, CEO of GatorBar. “We look forward to ongoing collaboration with ExxonMobil and NEG-US as we mainstream GatorBar within the building and construction industry.”

Lyphe Group, the UK’s largest medical cannabis company, has signed an agreement to acquire Materia, an EU GMP producer and distributor of medical cannabis across Europe (the “Transaction”). The combined entity (the “Company”) will bring together Lyphe Group’s and Materia’s complementary capabilities of manufacturing, distribution and patient acquisition across major European markets. This integrated product-to-patient ecosystem will enable the Company to realise immediate operational and financial synergies, including: The Transaction will further the Company’s current leadership position in Europe. Lyphe Group currently holds an estimated 35% market share in the UK, where it has been a first mover since medical cannabis was legalised in 2018. Materia owns its own medical cannabis importer and distributor in Germany, Europe’s biggest market, and also operates an EU GMP manufacturing facility in Malta. Earlier this year, Materia’s Malta facility became the first to ever export medical cannabis from Malta to another country. Jonathan Nadler, CEO of Lyphe Group, said: “I am thrilled to announce Lyphe Group’s agreement to acquire Materia. Having an integrated supply chain will have a massively positive effect on the industry, demonstrating our continued commitment to improving the patient experience and standards of the market.” Nick Pateras, Managing Director of Materia, said: “Our team has spent over three years building a truly unique infrastructure in pursuit of a leadership position in the European cannabis market. After the milestone accomplishments of the last twelve months, we are looking forward to this next chapter.” Lyphe Group and Materia will now work through the customary processes associated with the Transaction. Concurrently, Lyphe Group has engaged Sharp Capital to raise additional capital to accelerate the achievement of key business milestones in the Company's business plan and capitalise on identified market opportunities.