Montreal, Canada, January 12, 2011 – Metafoam Technologies announces the completion of a multi-million dollar investment from its current investors, Telesystem and iNovia Capital. This financing round follows extremely positive tests results from leading Asian manufacturers who will incorporate Metafoam’s copper foam wick structures in their heat pipes to reduce the heat in portable computers. The funds will be used for the set up and installation of Metafoam’s manufacturing facilities in Asia.

“We are pleased with the finalization of this financing round which will enable us to move forward with our strategy, by establishing manufacturing and operation capabilities in Asia to supply the electronic thermal industry with our products,” said Vincent Guyaux, President and CEO of Metafoam.

About Telesystem
Telesystem is a Canadian private corporation that owns, builds and manages innovative businesses around the world. Telesystem leverages technology and entrepreneurship to grow sustainable businesses in diverse and promising fields such as health & Environment, media & Entertainment, Internet & Software and industrial innovations. For more information please visit www.telesystem.ca.

About iNovia Capital
iNovia provides venture capital to entrepreneurs who transform innovations into successful companies. The team is comprised of sector experts focused on Mobile, Consumer Internet, Internet Communications, Software and Digital Media. iNovia has $165M under management across two seed and early stage IT and Life Sciences funds. For more information, visit www.inoviacapital.com or follow iNovia on Twitter at http://twitter.com/iNovia.

About Metafoam
Metafoam Technologies is specialized in the development, production and commercialization of open-cell metal foams. Through its patented technologies, Metafoam redefines the open-cell metal foams industry by offering the highest specific surface area. Metafoam focuses on open-cell copper foam wick structures for the electronic thermal management market, in particular for applications such as heat pipes and vapor chambers.

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