Metalysis, UK, has raised £12 million ahead of launching commercial production from its Generation 4 project to manufacture high value, speciality powder alloys suitable for Additive Manufacturing. According to the company, the proceeds will fund state-of-the-art post-processing facilities and provide working capital to support the rollout of the project.
Fundraising participants included existing shareholders Woodford Investment Management, Draper Esprit PLC, ETF Partners and Interogo Treasury, and new investors Hercules Capital, Inc. Metalysis stated that its financial year 2017 was a year of material progress for the company, which has partnered with a number of new organisations and undergone a £10 million expansion involving two capital projects critical to its continued commercial development.
Dion Vaughan, Metalysis CEO, stated, “Naturally, we are pleased that Metalysis has attracted financial backing from both new and existing sophisticated institutional investors. The expansion project carried out during the past year, combined with these proceeds, will support our multi-metal production and commercial rollout.”
Generation 4 is an industrial scale production facility housed within Metalysis’s Materials Manufacturing Centre in Wath-upon-Dearne, South Yorkshire. It is said to build on on Generations 1-3 of Metalysis’ solid-state, electrochemical technology and to be capable of producing hundreds of tonnes of high value, speciality powder alloys for Additive Manufacturing, aerospace, automotive and other high-value applications.
Also launched 2017 was Metalysis’s Materials Discovery Centre within the Advanced Manufacturing Park, South Yorkshire. Opened in March 2017, the centre houses materials development and technology projects with Metalysis’ partners and clients. In its first year of operation, the facility is said to have attracted five new commercial partners as well as in-house and confidential programmes.