# Torchlight loans Metamaterial US$10 million for equipment and product development

Torchlight Energy Resources loaned US$10 million to Metamaterial Inc. via an unsecured convertible promissory note. Metamaterial will use approximately US$5 million to accelerate acquisition of pilot scale production equipment and expand product lines.

- Type: Investment
- Announced: 2021-02-22
- Where: Plano, Texas, United States
- Value: $10.0M
- Status: announced
- Products: functional materials, nanocomposites, optical products, metaOptix product line
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Metamaterial Inc.](https://endata.com/companies/53400.md)
- [Torchlight Energy Resources](https://endata.com/companies/53399.md) (investor)

## Sources

- [newswire.ca](https://www.newswire.ca/fr/news-releases/torchlight-loans-metamaterial-us-10-000-000-allowing-metamaterial-to-execute-on-business-plan-in-advance-of-shareholder-votes-887741980.html), 2021-02-22: "Torchlight has loaned US$10,000,000 to META evidenced by an unsecured convertible promissory note."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.