South Yorkshire tech firm Metalysis closes £20m funding round
Metalysis, a 3D printing metal powder tech company based in South Yorkshire, has closed a £20m funding round from Neil Woodford’s investment trust and existing investor Iluka Resources.
The company, which produces metal powders – such as titanium, tantalum and bespoke alloys – for use in 3D printing, says it will use the funds to further its growth and develop strategic partnerships and licensing.
Dion Vaughan, CEO of Metalysis, said in a statement: “This latest investment underpins our commitment to deliver against the enormous potential of our disruptive powder metals technology.
“In Iluka and Woodford Patient Capital Trust, we have outstanding strategic partners and we welcome their support alongside longstanding backers such as Environmental Technologies Fund in realising the commercial potential of our technology,” Vaughan added.
David Robb, managing director of Iluka Resources said that his firm was encouraged by the company’s progress towards commercialising its solid state metal powder technology. “Iluka also fully supports the increased focus on titanium as the core element of Metalysis’ strategic plan,” he added.
Metalysis also has R&D relations with universities in Sheffield, Cambridge and Newcastle.