Mr. Khanjan Desai reports

ALCHEMY FORMS ITB CONSORTIUM WITH NAVIM GROUP AND SURFACE SCIENCE WESTERN TO ADVANCE CRYPSIS FOR NAVAL AND MARITIME COATINGS

Alchemy Labs Inc. has entered into a consortium agreement with Navim Group to develop and integrate Alchemy's proprietary Crypsis thermal signature management technology into naval and maritime coating systems, with Surface Science Western (SSW) expected to support the project through specialized materials characterization and testing.

The project is being undertaken as part of Canada's Industrial and Technological Benefits (ITB) policy in connection with Navim's participation in Seaspan Shipyards' work under Canada's National Shipbuilding Strategy.

As part of Navim's ITB obligations related to its work with Seaspan, Navim has agreed to finance 50 per cent of an approximately 414,000-euro research and development project to be undertaken by Alchemy. Alchemy will finance the remaining 50 per cent and lead the development of Crypsis-enabled paint and coating systems for maritime applications, with Surface Science Western expected to provide specialized materials characterization and testing support.

The project will evaluate the integration of Alchemy's proprietary Crypsis thermal signature management technology into sprayable coating systems for hard surfaces, with the objective of establishing the technical foundation for further validation and potential integration across naval vessels, military vehicles, and other defence platforms.

Alchemy will retain ownership of all intellectual property created or generated by the company through the project.

The project expands Crypsis beyond the company's existing work in defence textiles and into paint and coating systems for hard surfaces. Crypsis is Alchemy's proprietary thermal signature management technology designed to reduce the infrared signature of surfaces and materials and can potentially be incorporated into coatings, textiles, films and other material systems.

"We are advancing Crypsis into a new defence application by bringing together an established naval supplier, specialized materials testing capabilities and Alchemy's thermal signature management technology," said Khanjan Desai, chief executive officer of Alchemy Labs. "This project provides a funded pathway to develop Crypsis within an established maritime supply chain while allowing Alchemy to retain the intellectual property created through the program. Our strategy is to work directly with established defence manufacturers and suppliers already participating in defence procurement programs, which we believe can reduce the time and capital required to advance new Crypsis applications toward commercialization while expanding the markets where the technology can be deployed."

The project will focus on developing and testing Crypsis-enabled paint and coating systems for hard surfaces. The work is intended to establish whether Crypsis can be successfully incorporated into scalable coating applications and provide the technical foundation for further validation and potential integration across naval vessels, military vehicles and other defence platforms.

Navim Group is an Italian marine engineering company providing equipment, systems, and components for naval and commercial vessels.

Surface Science Western, located at Western University in London, Ont., provides materials characterization, surface analysis and research services to industry, government and academic organizations.

About Alchemy Labs Inc.

Alchemy Labs is a Canadian nanotechnology company that develops and commercializes advanced protective technologies for the automotive and defence industries. Through its ExoShield platform, the company commercializes premium windshield protection films, paint protection films and protective coatings for automotive applications. Through its Crypsis platform, the company is developing thermal signature management technologies for defence and security applications.

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