Mar 28, 2018 | By Tess
Metalysis, a UK manufacturer of 3D printable metal alloy powders, has raised £12 million ($17 million) from investors. The funding will help the company pursue its Generation 4 (Gen4) industrial-scale expansion initiative and will go towards establishing cutting-edge post-processing facilities, metal feedstock, and more.
Almost exactly a year ago, Metalysis was showing signs of a steady growth: the company had put £10 million of previously earned investments into a new Materials Discovery research center. The center, inaugurated in March 2017, opened up 100 new jobs and is dedicated to the development of new and higher performing metal powders for 3D printing and improved production methods.
Now, with £12 million raised from existing shareholders such as Woodford Investment Management, Draper Esprit PLC, ETF Partners, and Interogo Treasury, as well as new investor Hercules Capital, Inc., a California-based venture capital firm, Metalysis shows no signs of slowing down.
“Naturally, we are pleased that Metalysis has attracted financial backing from both new and existing sophisticated institutional investors,” said Dion Vaughan, CEO of Metalysis. “The expansion project carried out during the past year, combined with these proceeds, will support our multi-metal production and commercial rollout.
“Metalysis is a high-growth U.K. technology business with advanced materials breakthroughs and solid-state production of great value to its customers, shareholders, partners, and employees.”
The company’s Gen4 project consists of an industrial-scale production facility located within its Materials Manufacturing Center in Wath-upon-Dearne, South Yorkshire. More specifically, the project is the latest iteration of Metalysis’ modular solid-state, electrochemical technology which is used to produce “hundreds of metric tons” of specialty metal alloy powders for the additive manufacturing, aerospace, and automotive industries.
At this stage, Metalysis says it is preparing to put its Gen4 metal-producing technology into commercial production, a process which will be helped along by the recent £12 million investment.
Last year, the UK-based company entered into a partnership with Canadian mineral exploration and development company Mkango Resources Ltd. to develop and commercialize rare earth metal alloy powders. This collaboration, still underway, is aiming to produce materials for the purpose of 3D printing permanent magnets.
Posted in 3D Printer Company
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