Victoria, British Columbia--(Newsfile Corp. - September 21, 2026) - ALUULA Composites Inc. (TSXV: AUUA) (OTCQB:AUUAF) (”ALUULA“ or the “Company“) announces that on September 17, 2026, it has signed a milestone staged funding agreement as a result of Canada’s Industrial and Technological Benefits (”ITB”) Policy. The ITB Policy contractually requires companies that have been awarded coast guard or defence procurement contracts to undertake business activity in Canada equal to the value of the contracts won. Through this program, a major contract has been awarded to Seaspan Shipyards to design and build six new vessels for the Coast Guard.
As part of the ITB Policy requirements within Seaspan‘s contract, Seaspan’s Spanish partner IBERCISA Deck Machinery has agreed to fund 50% of a $730,000 CAD research and development project to be undertaken by ALUULA. ALUULA will fund 50% of the project and conduct R&D in collaboration with the University of British Columbia’s (UBC) Composites Research Network (CRN). Together, as part of this project and other ongoing work, ALUULA and CRN will explore further optimisation, testing and validation of ALUULA’s high-performance composite materials for defence shelter and cover applications on land and at sea. All parties related to the funding agreement are at arm’s length.
Advancing Canadian businesses
“We appreciate the ITB program and Seaspan for supporting a performance-driven, innovative, and sustainable business like ALUULA,” said Sage Berryman, CEO & President of ALUULA. “Initiatives like these are vital to building a resilient, prosperous future for Canadian industry. Funding like this will help accelerate our ability to bring leading-edge, recyclable composite solutions for maritime defence, while strengthening Canadian talent, R&D, and manufacturing capacity.”
ALUULA Marine - developing recyclable materials to meet the ocean’s demands
This investment marks a milestone in helping to advance ALUULA’s mission to develop innovative and sustainable composite materials, aligning with the Company’s focus on commercial industrial applications. This includes defence projects, such as ultra-light, ultra-strong, sustainable portable shelters, particularly for extreme cold or challenging environments. ALUULA’s patented materials are eight times stronger than steel for equivalent weight and are recyclable. They are purpose-built to meet the rigorous demands of the sea-being strong, lightweight, waterproof and high-performing, even under extreme cold, ultraviolet exposure and saltwater conditions.
About ALUULA Composites
ALUULA is an ultra-light, high-performance and recycle-ready composite materials brand that enhances the performance of outdoor gear as well as commercial and industrial equipment. Proudly owned and manufactured on the Canadian west coast, ALUULA’s innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA’s materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable.
aluula.com | (TSXV: AUUA) & (OTCQB: AUUAF)
About Seaspan
Seaspan is a key partner to Canada’s National Shipbuilding Strategy, with a track record of supporting domestic innovation through responsible investment in Canadian companies. By upholding its ITB obligations, Seaspan fosters a thriving innovation ecosystem benefitting Canada’s economy and environment.
About IBERCISA Deck Machinery
Ibercisa Deck Machinery S.A. is a Spanish technology company specializing in the design and manufacturing of naval deck machinery for all types of vessels, including fishing, merchant, tug, navy and oceanographic ships.
Noah Note: I am unfortunately not familiar with ALUULA. They seem to mostly be outside the defence industry, and this is one of their coming out moments. For things like composites, where the overlap of industry tends to be much more significant than others that isnt surprising.
I do wish them the best. There is always room for companies to support the Defence Industrial Base, amd I hope they take this new development opportunity to do something really cool.