July 2007
Blue-chip investors back Metalysis with
£13 million to fund commercialisation of speciality metals technology
Metalysis, a leading technology business for the global specialty metals industry, has completed a £13 million funding round backed by Environmental Technologies Fund (ETF), 3i, QinetiQ, Seven Spires, Chord Capital and Cambridge Capital Group.
The investment is to be used to support Metalysis in taking three product lines to commercial production using its patented technologies ahead of a possible stock market listing. The three products are:
- Tantalum - working in partnership with Rolls-Royce in Malaysia to produce high-grade tantalum for use in supercapacitors for mobile telephony and other high-end portable electronic products.
- Titanium - working in partnership with BHP Billiton to produce high-grade titanium for use in specialist parts for the aerospace, biomedical and petrochemical sectors.
- High Grade Alloys - which will be produced in-house at a state-of-the art facility in Rotherham, where Metalysis is headquartered, part funded by significant DTI and EU grants.
Substantial revenues from these three products are expected during 2009 through a mix of in-house and subsidiary manufacture, and licensing revenue.
Metalysis’ technology has the ability to produce high quality speciality metals from metal oxide using a unique patented process that delivers such metals with a significantly lower environmental impact than traditional methods of production and with a cost advantage. The process also has the capacity to produce new materials and alloys that are difficult or impossible to make using conventional processes.
The core Metalysis process uses a novel electrolytic method for reducing metal oxides to metal elements in a molten salt. The Company has the sole rights to the FFC process developed at Cambridge University as well as complementary technologies recently acquired from both BHP Billiton and QinetiQ.
The current round of investment has been led by ETF. It will be the first investment from ETF’s new fund, which was launched last year with a target size of 150 million euro. All previous shareholders have taken up pre-emption rights with 3i as the largest shareholder.
Lord Roger Freeman, Chairman of Metalysis said, ‘With this round of funding in place, Metalysis now has the financial firepower to build on the technology platform and product lines that have been successfully developed over recent years. We are delighted to have so many blue-chip investors supporting us to commercial production.’
Metalysis CEO, Dr Graham Cooley said, ‘Our ability to produce high grade speciality metals at a lower cost than traditional methods and in a more environmentally friendly way is a step change for the global industry. We have a great opportunity to make Metalysis a British champion in this massive international marketplace.’
Patrick Sheehan of ETF added, ‘Metalysis is a great example of the type of company we will actively support. There is an excellent team of people with genuinely disruptive technology that is broadly applicable, and the company is poised for very significant growth.’
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