SOURCE: Abakan Inc

June 10, 2015 11:00 ET

Abakan Receives First Commercial Order From Mexico for PComP Coatings

MIAMI, FL--(Marketwired - Jun 10, 2015) - Abakan Inc. (OTCQB: ABKI) ("Abakan"), an emerging leader in the advanced coatings and metal formulations markets, today announced that its subsidiary, MesoCoat de Mexico S.A. de C.V., has received its first commercial PComP order for the coating of certain large roller screens from one of the largest steel manufacturing and iron ore processing companies in Mexico. The initial order is expected to be followed by repeat orders and an annual contract to coat all of the rolls used at this facility as we earn their confidence with outstanding material results in critical areas. Abakan has also received orders for coating "lances" which are used heavily in iron ore production and anticipates trial orders for coating tuyeres, pumps, clad plates, turbines and other manufacturing components. "The potential size of an order for coating rolls and lances with PComP, at just this one facility, is approximately $1 million annually. Considering, on average, a five times increase in the useful life of PComP coated components, we believe that more than 100 steel manufacturing and iron ore processing facilities worldwide could benefit greatly from adopting PComP," stated Abakan CEO, Mr. Robert Miller.

"PComP coatings and CermaClad metal cladding have both generated significant interest in the Mexican oil and gas, mining, cement and steel industries. We expect to start new trials and receive new orders from industry leaders in the coming months. The focus is on driving the adoption of our products across multiple sectors," stated MesoCoat de Mexico's CEO, José María Ribot Barroso. "The value proposition of Abakan's products exceeds that of any other comparable products. In every trial, our products have extended the useful life of the coated parts, on average, by 5 times expected life span. This benefit could translate into millions of dollars in savings and enable customers to exchange downtime for production time. We believe that PComP offers the best cost/benefit ratio on the market," continued Mr. Ribot Barroso.

"Our cost savings scenario exists at every single steel plant across the globe. Hundreds of iron ore production and mining facilities can benefit from PComP products. China, where Abakan's partner, UP Scientech Corp., has cultivated strong relationships with many of the major steel and mining companies, has more iron ore production and mining facilities than any other country. We believe that those relationships and more will accelerate industry-wide adoption of Abakan's PComP products leading to a significant increase in revenues," concluded Mr. Ribot Barroso.

About Abakan, Inc.
Abakan develops, manufactures and markets advanced nano-composite materials, innovative fabricated metal products and highly engineered metal composites for applications in the oil and gas, petrochemical, mining, aerospace and defense, energy, infrastructure and processing industries. Abakan's technology portfolio currently includes high-speed, large-area metal cladding technology, and long-life nano-composite anti-corrosion and wear coating materials. Abakan's products have demonstrated longer life, higher productivity and extremely high strength-to-weight ratios compared to competing technologies. The Abakan group of companies has been honored by The Wall Street Journal as the #1 Manufacturing Innovation across the globe; by Pipeline Industries Guild as the Top Subsea Pipeline Technology; by Forbes as the #1 Most Promising Material Science Company in the United States; by American Metals Market with the Steel Excellence Award; by Inc. 500 as one of the Fastest Growing Manufacturing Company in the U.S.; and has received numerous other trade, industry and technology awards including five R&D 100 Awards and a Technology Innovation Award from the National Institute of Standards and Technology. Over $50 million has been invested in product development and testing by federal agencies, national labs and our companies in order to deliver products that offer improved performance over the current state of art. Abakan has introduced its PComP™ W for metal asset protection and life extension to the oil and gas and mining industries, and is currently focused on the scale-up and commercialization of its highly disruptive metal cladding products for the oil and gas, oil sands, and mining industries. Abakan currently operates from multiple locations in United States, and in Canada.

Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K, Form 10-Q and 8-K. Abakan's public filings may be viewed at www.sec.gov.

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