March 2005
Metalysis expansion attracts industry’s largest investment in 5 years
Investors pledge £5m support for the future of a unique electrolytic metals processing method; raising the largest series A financing round for this sector in the last 5 years.
Metalysis, a metals extraction pioneer, announces the completion of a £5m investment round co-led by Seven Spires Investments and new investors, 3i, along with a syndicate comprising Generics Asset Management, The Coalfields Enterprise Fund and Cambridge Capital Group. Together with national and European grant money, the round will be used to continue the scale-up and commercialisation of a unique metals extraction process.
The metallurgy market impacts on everyday life; from increasing use of super capacitors in mobile phones to critical light alloys deployed in aerospace and automotive products. Metalysis is exploiting the FFC Cambridge process, a novel technique for the extraction of metals from their oxide. Developed by Prof. Derek Fray and his team at Cambridge University, the process works for a wide range of high value metals and offers significant economic and environmental benefits over conventional extraction techniques.
Founded in Cambridge in 2002, the company relocated to South Yorkshire in late 2004 where it is building a production facility for the process. The company is also working to close a number of commercial deals with leading international metals companies to further exploit the process.
Dr Graham Cooley, Chief Executive of Metalysis said: “We are delighted to have closed this round. Metalysis has strong intellectual property, an experienced management team and commercial deals which will provide strong early revenues. Combined with the new investment syndicate we have all the elements in place to become a world class company.”
3i Director and Metalysis Board Member, Laurence Garrett added "The ability to produce pure metal from metal oxides without the need for extreme heating or use of damaging chemicals is a real advance for the industry. This kind of innovation in the refinement of key metals happens once every 50 years. It has been a pleasure working with the team over the last two years and 3i looks forward to collaborating with its investment partners and continuing the excellent working relationship with the company as it builds momentum in the future.”
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