Companies That Embrace Diversity are Twice as Likely to Outperform Their Peers

HALIFAX, NS, Dec. 21, 2020 /CNW/ – Metamaterial Inc. (“Company” or “META”) (CSE: MMAT) a developer of high-performance functional materials and nanocomposites, today announced it has joined the 50 – 30 Challenge. On December 10th, the Honourable Navdeep Bains, Minister of Innovation, Science and Industry, launched the 50 – 30 Challenge to advance and recognize diversity, inclusion and economic prosperity from coast to coast to coast. At the heart of the 50 – 30 Challenge are two goals for the board and senior management of each organization: gender parity (50%) and significant representation (30%) of under-represented groups. META is proud to be one of the 500 companies who are early adopters of this program.

“I joined META in December 2015, only a few months after arriving from Israel as a newcomer to NS, Canada,” said Oshrit Harel, Manager R&D and Materials Engineering at META. “Having worked as an R&D process engineer for global semiconductor companies, I began in R&D materials engineering and grew with the company into a senior management role, building the technology and the team. I feel thankful to be part of a diverse company, working with scientists and talented people, both local and from all around the world. There are over 20 spoken languages among my colleagues, and they each bring their culture in a welcoming and open-minded environment. I’m happy to set an example for women and working mothers in technology and management. Moreover, I can truly see how innovation is being promoted by bringing multiple perspectives and experiences to bear on complex problems.”

“At META, Environmental, Social and Governance (ESG) metrics are becoming central to our management process and corporate strategy. In the last five years, inclusion and diversity has been a source for META’s competitive advantage, and specifically a key enabler of growth,” said George Palikaras, President and CEO. “According to McKinsey analysts, companies and organizations that embrace diversity at the board and executive levels are twice as likely to meet or exceed their financial targets and more likely to outperform their peers. We welcome the opportunity to join a community of like-minded organizations and the additional Federal Government support which will be provided by the 50 – 30 Challenge program to help us take further action on inclusion and diversity.”

Minister Bains announced a $33-million investment in the Challenge, including for the development of tools and resources to help participating organizations advance inclusion and diversity in workplaces across Canada. Additionally, Innovation, Science and Economic Development Canada (ISED) will leverage its programs to encourage companies that receive ISED funding to advance inclusion and diversity within their organizations.

The Standards Council of Canada, Canada’s respected voice for and advisor on standards and accreditation, will collaborate with 50 – 30 Challenge partner organizations to develop Canadian standards for diversity in organizational leadership. Beginning with a guidance document, the Council’s work will serve as a roadmap to help organizations of various sizes and sectors across the country achieve measurable, concrete change.

About Metamaterial Inc.

META is changing the way we use, interact with, and benefit from light and other forms of energy. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. META is an award winning Global Cleantech 100 company with products that support sustainability by doing more with less; they encompass lightweight, sustainable raw materials and processes which consume less energy and offer more performance. META has a growing patent portfolio and is currently developing new materials with diverse applications in concert with companies in the automotive, aerospace, energy, consumer electronics and medical industries. META is headquartered in Halifax, Nova Scotia and has R&D and Sales offices in London, UK and Silicon Valley. For additional information on META, please visit

The CSE has neither approved nor disapproved the contents of this news release.

SOURCE Metamaterial Inc.

For further information: Media Inquiries: Rob Stone, FASC Group LLC, 617-901-4011, [email protected]; Investor inquiries: Mark Komonoski, Director Capital Markets and IR, Metamaterial Inc., phone: 1-877-255-8483, [email protected]

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