Abakan Inc. has entered into an investment agreement with MesoCoat, Inc., an Ohio-based advanced nanocomposite ceramic-metallic (cermet) coatings company and Powdermet, Inc., its majority shareholder. MesoCoat is building a diversified, patented product platform that consists of environmentally-friendly coating compositions and methods of applying coatings to large surface areas. MesoCoat was formed in 2007 to develop and commercialize its line of proprietary nanocomposite coating materials, and its fusion application technologies licensed from Oak Ridge National Laboratories. The investment agreement requires a series of investments over time the first of which has caused Abakan to acquire a non-controlling interest in MesoCoat.