Montreal, Canada, February 1, 2007 – Metafoam Technologies Inc., a leading edge manufacturer of innovative open-cell metal foams, is proud to announce that it has received a multi-million dollar investment from BDC Venture Capital, FIER ID, MSBi Capital, and M&M Investments. This injection of capital will allow the company to pursue its development and commercialization efforts

“The financial backing by such reputable investors is the recognition of the competitive advantages of our platform and of its wide range of applications”, said Dominic Pilon, Metafoam’s Founder, Vice President R&D and CTO. “Our metal foams possess the highest specific area in the industry, high manufacturing process repeatability, and significantly lower production costs. This allows us to go after markets that, until recently, could not even contemplate using metallic foams."

“For us, this investment is first and foremost the result of the determination of a young entrepreneur, Dominic Pilon, with whom M&M Investments has partnered in the past two years. Metafoam inherits what it worked for: financial supporters that will make a difference”, declared Michel Brûlé, Chairman of the Board of Metafoam and President of M&M Investment.

“The success of this first round of financing and the fact that a number of investors became involved attest to Metafoam’s potential,” said Réjean Asselin, Director, Technology Seed Investments at BDC.

“ID Capital believes that metallic foams are poised to provide break-through performance enhancements to a variety of industrial processes and high-end products, in particular the areas of thermal management and electrochemistry show great promise”, added Daniel Cyr, Managing Partner ID Capital.

“MSBi is proud to lend its support to a company looking to establish strong partnerships with global players in the $5B electronics cooling market and has a strong upside in clean technologies and energy applications”, said Chris Arsenault, Partner at MSBi Capital. “We have high expectations of Metafoam’s capabilities to deliver innovative metal foam products into rapid-growth markets such as the energy market”.

About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company’s development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975, and has to date invested in more than 400 different companies. It currently manages approximately $550 million in venture capital assets invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Fund Investments. For more information, see www.bdc.ca.

About FIER ID and ID Capital
FIER ID, s.e.c. is a fund managed by ID Capital, a venture capital firm which invests in innovative start-up businesses located mainly in the greater Montreal area. The businesses targeted by ID Capital must have developed innovative technologies or products that can be protected through patents and must show vast market potential. Additional information about ID Capital is available at www.idcapital.ca.

About MSBi Capital
MSBi Capital is a seed and early stage venture capital fund dedicated to commercializing innovations in information technology, life sciences, and the physical sciences. MSBi Capital has a particular focus on establishing and building companies based on technology advancements and inventions originating from the universities of McGill, Sherbrooke and Bishop's, as well as their affiliated hospitals and research institutes. More information about MSBi is available at www.msbi.ca.

About M&M Investments
M&M Investments is a private investment fund created to assist emerging companies to maximise capitalization of their competitive advantages.

About Metafoam
Metafoam Technologies is specialized in the development, production and commercialization of open-cell copper foams. Through its patented technologies, Metafoam is revolutionizing the open-cell copper foams industry by offering the highest specific surface area. Thanks to this industry-leading performance, Metafoam is focusing on wick structures for the electronic thermal management market.

- 30 –

Phone: +1 (450) 444-5678
info@metafoam.com