MIAMI (March 13, 2014) – Abakan Inc. announced that its 72 percent owned subsidiary, MesoCoat, Inc. has received the National Association of Corrosion Engineers (NACE) Materials Performance (MP) Corrosion Innovation of the Year Award in the Coatings and Linings category. The award was conferred upon MesoCoat's CermaClad high-speed, large-area, metal cladding technology. CermaClad technology utilizes a high-intensity arc lamp to rapidly fuse protective, proprietary cladding materials onto the internal surface of steel pipe and tube.

Abakan CEO, Robert Miller, stated, "Our goal is to improve the useful life of metals beyond current cladding technology standards. It's common knowledge that corrosion is the number one limiting factor in the life of metals. CermaClad anti-corrosion and anti-wear cladding technology represents a revolutionary advancement in corrosion prevention and mitigation technologies because it can produce an exceptional product at a lower cost and a fraction of the manufacturing time of competing technologies. In short, it is a significantly better, cheaper and faster alternative to current industry standards."

"It is extremely motivating for our team to see the world's preeminent corrosion association honoring CermaClad technology as the top anti-corrosion coatings technology available today," continued Miller. "This award, along with several others received for CermaClad(TM), coupled with the support we've received from many Oil and Gas majors and some of the world's largest offshore pipe manufacturers provide further validation for the enormous potential of our technology. We're thrilled to be recognized with this highly-esteemed award."

At $2.2 trillion, the annual cost of corrosion worldwide is over 3 percent of the world's GDP, not to mention the estimated 1.8 tons of CO2 emitted by each ton of steel produced. "Since the mid-20th century, there has been almost no innovation in metal cladding. The limitations of current technologies led MesoCoat to develop a solution to address this large and growing market. Imagine the possibilities of steel assets that last 3 to 6 times longer than what are available today. It will lead to a paradigm shift in metal asset protection and life extension and make a significant impact in almost every industry," concluded Miller.

NACE International serves approximately 30,000 members in 130 countries. It is a professional association dedicated to protecting people, assets and the environment from the impact of corrosion that offers technical training and certification programs, conferences, industry standards, reports, publications and software to prevent and mitigate corrosion.

Abakan develops, manufactures and markets advanced nanocomposite materials, innovative fabricated metal products and highly engineered metal composites for applications in the oil and gas, petrochemical, mining, aerospace and defense, energy, infrastructure and processing industries.