Kitchener, Ontario--(Newsfile Corp. - November 2, 2026) - Alchemy Labs Inc. (TSXV: ALCH) ("Alchemy" or the "Company"), a Canadian nanotechnology company developing advanced protective solutions for the automotive and defence industries, is pleased to announce that it has entered into a consortium agreement with Navim Group ("Navim") to develop and integrate Alchemy's proprietary Crypsis™ thermal signature management technology into naval and maritime coating systems, with Surface Science Western ("SSW") expected to support the project through specialized materials characterization and testing.

The project is being undertaken as part of Canada's Industrial and Technological Benefits ("ITB") Policy in connection with Navim's participation in Seaspan Shipyards' work under Canada's National Shipbuilding Strategy.

As part of Navim's ITB obligations related to its work with Seaspan, Navim has agreed to fund 50% of an approximately €414,000 research and development project to be undertaken by Alchemy. Alchemy will fund the remaining 50% and lead the development of Crypsis-enabled paint and coating systems for maritime applications, with Surface Science Western expected to provide specialized materials characterization and testing support.

The project will evaluate the integration of Alchemy's proprietary Crypsis thermal signature management technology into sprayable coating systems for hard surfaces, with the objective of establishing the technical foundation for further validation and potential integration across naval vessels, military vehicles and other defence platforms.

Alchemy will retain ownership of all intellectual property created or generated by the Company through the project.

The project expands Crypsis beyond the Company's existing work in defence textiles and into paint and coating systems for hard surfaces. Crypsis is Alchemy's proprietary thermal signature management technology designed to reduce the infrared signature of surfaces and materials and can potentially be incorporated into coatings, textiles, films and other material systems.

"We are advancing Crypsis into a new defence application by bringing together an established naval supplier, specialized materials-testing capabilities and Alchemy's thermal signature management technology," said Khanjan Desai, CEO of Alchemy Labs. "This project provides a funded pathway to develop Crypsis within an established maritime supply chain while allowing Alchemy to retain the intellectual property created through the program. Our strategy is to work directly with established defence manufacturers and suppliers already participating in defence procurement programs, which we believe can reduce the time and capital required to advance new Crypsis applications toward commercialization while expanding the markets where the technology can be deployed."

The project will focus on developing and testing Crypsis-enabled paint and coating systems for hard surfaces. The work is intended to establish whether Crypsis can be successfully incorporated into scalable coating applications and provide the technical foundation for further validation and potential integration across naval vessels, military vehicles and other defence platforms.

Navim Group is an Italian marine engineering company providing equipment, systems and components for naval and commercial vessels.

Surface Science Western, located at Western University in London, Ontario, provides materials characterization, surface analysis and research services to industry, government and academic organizations.

About Alchemy Labs Inc.

Alchemy Labs Inc. (TSXV: ALCH) is a Canadian nanotechnology company that develops and commercializes advanced protective technologies for the automotive and defence industries. Through its ExoShield® platform, the Company commercializes premium windshield protection films, paint protection films and protective coatings for automotive applications. Through its Crypsis™ platform, the Company is developing thermal signature management technologies for defence and security applications.

This news release includes certain statements that may be deemed "forward-looking statements", including statements respecting the services to be provided by Alchemy and the use of proceeds from the IPO. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although Alchemy believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Alchemy can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including the assumption that the Company will use the net proceeds of the IPO as anticipated, as well as the various risk factors discussed in Alchemy's disclosure documents which can be found under Alchemy's profile on www.sedarplus.ca. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321934

Source: Alchemy Labs Inc.