Hyperion executes option agreement to acquire Blacksand Technology
October 22, 2021
Hyperion Metals, Charlotte, North Carolina, USA, has executed a one-year option to acquire Blacksand Technology LLC, West Valley City, Utah. The two companies have been collaborating on an investigation into the commercial development of spherical titanium metal powders.
“The combination of Hyperion and Blacksand Technology is transformational, bringing together two highly complementary organisations, supported by the world-class metallurgical engineering department at the University of Utah, to create a leader in sustainable low carbon titanium metal and powders,” stated Anastasios Arima, CEO and Managing Director, Hyperion. “Hyperion’s Titan Project in Tennessee will supply low carbon titanium mineral feedstock to produce low carbon, low-cost titanium metal and powders using the HAMR and GSD technologies. We aim to build on Blacksand’s strengths in material science and innovation to scale and commercialise these breakthrough American technologies and make the US, once again, the leader in titanium metal.”
Since the founding of Blacksand in 2013, it has developed the hydrogen assisted metallothermic reduction (HAMR) technology and developed over forty patents worldwide relating to titanium manufacturing, from the supply chain to specific technologies. Over the years, the company has seen a reported investment of around $12 million into these technologies from government agencies including the Advanced Research Projects Agency – Energy and the Office of Energy Efficiency and Renewable Energy of the US Department of Energy; the National Science Foundation; and the Naval Air Systems Command of the US Department of Defense.
Dr Z Zak Fang, Professor of the University of Utah and founder of Blacksand, added, “Blacksand is excited about the prospects of commercialising its suite of titanium technologies through Hyperion Metals. Hyperion recognises the potential of the breakthrough HAMR process based on a simple and elegant scientific principle to lead the titanium production industry away from the old, energy-intensive, and environmentally-challenging Kroll process. This is a historical opportunity to change how titanium is made with an energy-efficient, potentially zero-emission, and low-cost technology.”