Metalysis’ Materials Discovery Centre
Metalysis’ Materials Discovery Centre
Metalysis has been bought out of administration by Power Resources Group (PRG), a materials science company.
The Yorkshire-based metal 3D printing powder manufacturer entered administration last month and voiced publicly its need for new ownership and continued investment. Across seven funding rounds, Metalysis has so far raised around $100 million – the most recent of which came in 2018 – but in chasing another round of investment, ran into difficulties.
Metalysis is a company built from R&D that started in 2001. The concept of its electrolytic technology was proven by 2003, a technical demonstration achieving multiple kilograms of production completed by 2009, and a commercial demonstration in which tonnes of material was being produced was concluded by 2014. In September 2018, Metalysis announced it was ready to transition into the commercial production of metal alloys, the company now capable of outputting ten of tonnes worth of material every year. That was ‘Generation 4’, with Generation 5, the ability to produce hundreds to thousands of tonnes worth of material a year, set to commence this year.
And though progress had been made in 2019, troubles on the financial side looked like it might bring a halt to proceedings. But within a month of the company being placed into administration, PRG has stepped in, acquiring the company to become the sole owner of the business.
PRG mines tantalum and niobium in Rwanda, and also offers titanium, serving companies operating in the automotive, aerospace, and electronics sectors, as well as users of additive manufacturing technologies. It is thus that PRG moved to acquire the Metalysis business, CEO Ray Power describing the company’s metals technology focus as ‘a perfect complement to PRG’s existing operations.'
