Meta Materials Inc. announced that it has been awarded $2.2 million in additional purchase orders under the development contract between its wholly owned subsidiary, Nanotech Security Corp. and a confidential central bank. The new orders include approximately $1 million for development services and approximately $1.2 million for sample product.

On October 1, 2021, just ahead of its merger with META, Nanotech announced that it had renewed its frame agreement to continue development of a unique security feature for its confidential G10 central bank customer. The frame agreement has a maximum value of $41.5 million over a period of up to five years. For fiscal year 2022, the awarded purchase orders under the contract have now increased from approximately $7 million to $9.2 million.