SOURCE: Abakan Inc

July 15, 2015 10:38 ET

Abakan Secures Test Orders From Major Industry Leaders

MIAMI, FL--(Marketwired - Jul 15, 2015) - Abakan Inc. (OTCQB: ABKI) ("Abakan"), an emerging leader in the advanced coatings markets, today announced that it has secured test orders from industry majors for its PComP thermal spray coating powders as a result of its presentations at the recent Offshore Technology Conference (OTC) and International Thermal Spray Conference (ITSC).

"Abakan exhibited its PComP thermal spray coating powders at the ITSC and OTC events held in May, 2015, to educate thermal spray coating services providers, and oilfield, mining, and industrial companies, as to the attractive value proposition offered by PComP thermal spray powders. The response was very encouraging with test orders secured from industry majors in North America, Asia and Europe for moly-boride based PComP-M and tungsten-carbide based PComP-W thermal spray powders. Several of the companies that placed test orders consume tens of thousands of pounds of thermal spray powders annually. Given the significantly longer life of our PComP coatings in many of the most extreme environments, we are confident that some of these test orders will lead to long term sales commitments," said Abakan's CEO, Mr. Robert Miller.

"Of particular interest to most of these companies was our PComP-M product, which we are positioning as an industrial equivalent of Teflon* coating for molten metal applications. Our PComP-M coating protects tools and components exposed to molten metal from corrosion, and acts as a non-stick layer that prevents any kind of molten metal or dross build-up on the tool or component. Based on lab and field testing, our PComP-M coatings provide a 6 times longer useful life when compared to the current state-of-art moly boride powders and conventional tungsten carbide thermal spray powders. The economic value proposition is very simple, the cost of PComP is similar to products currently available in the market but the useful life expectancy of the component or tool coated with PComP is significantly longer. For example, instead of being forced to stop production and undergo 4 to 5 hours of maintenance down-time to replace worn components every week, you now only have to stop production for the same purpose every 6 to 8 weeks. Extended useful life reduces the downtime required for maintenance, decreases replacement costs, and over time effects material decreases in capital costs, which decreases can result in increases in net revenues generated by our customers," continued Mr. Miller.

*Teflon® is a registered trademark of E. I. du Pont de Nemours and Company

About PComP Long-Life Thermal Spray Coatings
PComP thermal spray powders are the only thermal spray powders that lead to coatings that are both hard and tough, and hence despite the high hardness the coatings do not flake when bent. Additionally, MesoCoat is the only company in the world that manufactures titanium nitride and silicon nitride based PComP thermal spray powders; despite decades of research no other company has been able to make titanium nitride and silicon nitride based powders that can be sprayed using thermal spray coating systems.

PComP coatings are cermets fabricated into a hierarchical structure, developed with microstructures, engineered at the nano-, micro- and meso- scale, to offer revolutionary performance and cost breakthroughs. These materials are formed with a nano-composite core and binder coating by combining low friction, high wear resistance and excellent corrosion resistant materials. The nano-composite core provides high wear resistance, low friction and, for Titanium-Nitride and Silicone-Nitride based powders, light weight, while the binders provide corrosion resistance, toughness, ductility, resiliency, and improved deposition efficiency. This combination results in a high toughness, ductile-phased toughened structure comprised of high hardness tiles separated by ductile binder laminates.

PComP is a manufacturing methodology, not just a product, which means that, when utilizing the PComP manufacturing methodology, MesoCoat can combine a variety of materials that usually do not go well together; leading to the best-in-class corrosion- and wear-protection. PComP cermet coatings can replace electrolytic hard chrome, electroplating, spray and fuse, and thermal spray carbides to impart wear and corrosion resistance, and reduce friction in sliding wear applications. PComP coatings are easy and fast to apply that machine to tight tolerances for dimensional restoration of OEM or worn E&P components. The PComP family of coating materials has been designed to act as a drop-in replacement for thermal spray powders and will work with today's existing application systems. To learn more about our PComP coatings please feel free to reach us by phone at (216) 453-0866 or email us at info@mesocoat.com.

About Abakan, Inc.
Abakan develops, manufactures and markets advanced nano-composite materials, and innovative fabricated metal products 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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