CNPC Powder receives millions in financing from Chinese industrial fund
July 9, 2021
CNPC Powder, headquartered in Vancouver, Canada, has announced the successful closure of A Round Investor Funding, reportedly securing tens of millions in financing from an emerging industry fund in China. The round of funding will be used to construct new production facilities, further improve the fully automatic (AMP) production lines and focus on additional R&D for new products and technologies.
CNPC Powder’s new funding is also intended to improve workflows and enhance real-time monitoring of equipment and enable also produce improved statistical analysis and implement more advanced QA, CRM, ERP industrial software systems. The company hopes that all of this will translate into an annual production capacity of 1,000 tons of metal powder for Additive Manufacturing.
Given the increasing market demand for lightweight applications, aluminium alloys have become the research hotspot for global metal AM manufacturers. Within this competitive market, CNPC Powder’s aluminium alloys are reported to feature highly spherical particles with few satellites, resulting in a highly fluid powder with low oxygen content.
As well as the aluminium market, the company is also actively developing and improving technologies for the production of copper, titanium, nickel, and cobalt alloys, as well as other conventional metal AM materials. This new round of funding will also be used to further accelerate the commercialisation of these materials for the AM market.
CNPC Powder states that promoting the industrialisation of high-quality, low-cost AM metal powders will continue to be its goal, as it continues to work with industry partners and begins cooperation with well-known global metal AM companies.