Metalysis (or “the Company”), the U.K. technology company with a solid-state process to produce valuable, 3D printable metal alloy powders, has raised £12m ahead of commercial production from its Generation 4 (“Gen4”) industrial scale expansion project.
Proceeds will fund state-of-the-art post-processing facilities, feedstock and provide working capital to support the rollout of Gen4.
Fundraising participants comprised existing shareholders Woodford Investment Management, Draper Esprit PLC, ETF Partners and Interogo Treasury.
The Company was also pleased to welcome Hercules Capital, Inc. (NYSE: HTGC), of California, U.S., which has pledged more than US$7 billion to high-growth, innovative venture capital-backed companies in life sciences, sustainable and renewable technology industries since its inception.
The investment process draws FY2017 to a close; a year of material progress for Metalysis, with a number of new partners and a £10m expansion involving two capital projects which are critical to the Company’s continued commercial development.
The first project, Gen4, is an industrial scale production facility housed within Metalysis’ Materials Manufacturing Centre in Wath-upon-Dearne, South Yorkshire. Being modular, Gen4 builds on Generations 1-3 of Metalysis’ solid-state, electrochemical technology. It is capable of producing hundreds of tonnes of high value, speciality powder alloys used in additive manufacturing, aerospace, automotive and other high value applications.
The second project was establishing Metalysis’ Materials Discovery Centre within the Advanced Manufacturing Park, South Yorkshire. Officially opened in March 2017, by a delegation from the U.K. Department for Business, Energy and Industrial Strategy (BEIS), it houses materials development and technology projects with Metalysis’ partners and clients. In its first year of operation, the facility has attracted five new commercial partners, previously announced, as well as in-house and confidential programmes.
Dion Vaughan, CEO of Metalysis, said:
“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.
“Metalysis is a high growth U.K. technology business with advanced materials breakthroughs and solid-state production of great value to its customers, shareholders, partners, and employees.”