Abakan Inc. (OTCQB: ABKI) (“Abakan”), an emerging leader in the advanced coatings and metal formulations markets, today announced the appointment of Sam Thomas Ph.D., Andrew Hall and Vinod Gupta to its Board of Advisors. Together, Dr. Thomas, a professor at Weatherhead School of Management and a renowned investment advisor, Hall, a preeminent trial lawyer specializing in complex business disputes, and Gupta, an international entrepreneur, bring decades of corporate finance, investment strategy, money management and contract negotiations experience to Abakan and its portfolio companies.
“Abakan is the kind of company one wants to be associated with – it has good people, good internal research-based proprietary technology, client-centered value-adding products, and a natural capacity to grow globally,” said Dr. Thomas. “I look forward to being actively involved in the development of a measured, growth-oriented corporate strategy at Abakan.”
Dr. Thomas has won seven teaching excellence awards as Professor of Banking and Finance at the Weatherhead School of Management at Case Western Reserve University in Cleveland, Ohio. Dr. Thomas’ research is centered in the integration of global business cycles with investment strategy and corporate business development strategy. His consulting activities focus on investment science and valuation, and he is actively engaged with corporate strategists, institutional investors, financial advisors and money managers.
Hall is the founder and managing partner of Hall, Lamb and Hall P.A., based in Miami, Fla., where he specializes in complex commercial litigation, professional negligence litigation, securities litigation and arbitration and international cases. From the Watergate trials and the Ohio savings and loan crisis, to the 2000 terrorist attack on the USS Cole, Hall’s trial skills have earned him national recognition, including being named one of “The Best Lawyers in America” by Best Lawyers for the past decade.
Gupta, based in Wadsworth, Ohio, is currently the chairman of the Ohio Board of Regents, where he also chairs the Commercialization Task Force and serves on the Shared Services Task Force. He also serves as an Entrepreneur-In-Residence (EIR) for the Cleveland-based venture development non-profit organization, Jumpstart Entrepreneurial Network (JEN) Advisors, where he is involved in growing the northeast Ohio technology ecosystem based on his 14 years of materials sector experience by coaching entrepreneurs in the technology sector.
Gupta is a successful entrepreneur focusing on developments in India, and is also an active member of the Ohio Indian-American community, serving as founding president of the Columbus based Asian-Indian Alliance.
Robert Miller, CEO of Abakan, stated, “We are pleased to welcome Sam, Andrew and Vinod and their extensive experience to our Board of Advisors. Sam will play a very important role at Abakan, advising our team on corporate investment strategy, capital raising and risk/options analysis. He brings a vast network of global clientele, including family offices and steel fabrication companies. Andrew, with his impressive legal career, will be instrumental in Abakan’s, and our portfolio company MesoCoat’s, next stages of growth, providing contract analysis and enforcement, as well as supporting client and supply chain relationships. Vinod brings a wealth of key relationships and business expertise in a wide range of settings, including government, Indian trade relations and business development, and will play a key role in Abakan’s continued domestic and international expansion.”
About Abakan Inc.
Abakan develops, manufactures and markets advanced nanocomposite materials, innovative fabricated metal products and engineered metal composites for applications in 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, long-life nanocomposite anti-corrosion and wear-coating materials, and high-strength lightweight metal composites. Abakan’s products have demonstrated up to 80 times longer life, up to 40 times higher productivity and extremely high strength-to-weight ratios compared to competing technologies. Abakan group of companies have been ranked by the Wall Street Journal as the #1 Manufacturing Innovation across the globe; by Forbes as the #1 Most Promising Material Science Company in the United States; have received numerous trade, industry and technology awards including five R&D 100 Awards and a Technology Innovation Award from National Institute of Standards and Technology; and over $70 million has been invested in research and development, including awards over $30 million by federal agencies for technology development and commercialization. Abakan has now successfully introduced its metal coatings for metal asset protection and life extension in the oil and gas and mining industries, and is now geared towards scale-up and commercialization of its highly disruptive metal cladding products for the oil and gas, oil sands, mining and chemical industries. Abakan currently operates from multiple locations in United States and Canada, and intends to expand global operations in South America, Middle East, Asia-Pacific and Russia.
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 and Form 10-Q. Abakan’s public filings may be viewed at www.sec.gov.