VANCOUVER, BC, April 12, 2024 /CNW/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company"), the holding company and majority owner of Namesilo LLC, one of the largest domain registrars in the world, is pleased to announce that it has increased its investment, to a total of $800,000, in Alchemy Labs Inc. ("Alchemy"), a leading nanotechnology-powered industrial-coatings company focused on the automotive and defense sectors.
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With over 350 active installers in 56 countries, Alchemy has established an extensive and growing channel-sales network to deliver best-in-class windshield-protection solutions that are endorsed through repeat purchases by automobile enthusiasts while also helping insurers reduce claim rates. Alchemy's ExoShield windshield protection film products have been tested to show they have 6 times the impact resistance, 3 times the abrasion resistance, and 2 times the optical clarity of their leading competitor.
Alchemy also has a Defense division which focuses on providing thermal-camouflage nanotechnology for military applications that has been thoroughly and successfully tested by the Canadian Armed Forces for field operations. Alchemy was the sole recipient of a $1 million IDEaS contract from Defence Research and Development Canada to advance its thermal camouflage nanotechnology for uniform and netting integration for the Canadian Armed Forces. Following a success solution demonstration where Alchemy's Crypsis Class technology performed successfully in multiple operational environments, Alchemy is working to secure its subsequent development contract from Canada as well as beginning to promote its technology to other NATO and Five Eyes allies.
Khanjan Desai, Co-founder & CEO of Alchemy states "NameSilo has been a phenomenal investor and partner for Alchemy. The quality of support we have received from Paul Andreola and Colin Bowkett at NameSilo in developing our capital strategy to deliver long-term shareholder value has been unparalleled. With ExoShield windshield protection films already regarded as the highest quality and longest lasting protection available, we are now working hard on executing on our technology pipeline for making windshield protection accessible for all vehicle owners. In parallel, our Defense division continues to work hard on advancing our defense technologies to protect soldiers and valuable military equipment. Both our automotive and defense divisions are poised for significant growth, and we are incredibly excited about the long-term value both can deliver to our shareholders.
Paul Andreola, CEO of Namesilo Technologies states "Alchemy is an opportunity that had all the ingredients that we look for as investors: a best-in-class product or service, a huge addressable market, a track record of consistent growth, and an excellent management team. When we first met Khanjan we were struck by his professionalism and grasp of the larger opportunity that exists for Alchemy in both the automotive and defense sectors. Over the last 2 years he has continually exceeded our expectations from both an operational and sales perspective, and we look forward to continuing our relationship and working with Khanjan and his team to help Alchemy achieve their goals in future."
About NameSilo Technologies Corp. and NameSilo LLC
NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third-party and it does not offer investment advice.
NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 4.77 million active domains under management from approximately 160 countries.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.
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