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Manufacturing

Metals production company in £5 million VC round

Article Date:  May 21 2009

South Yorkshire-based Metalysis has attracted £5.1 million in venture capital (VC) funding to ramp up production of tantalum and titanium.

The money is from the EU-backed Environmental Technologies Fund, private equity group 3i, and VC firms Chord Capital, Seven Spires Investments and Cody Gate Ventures. It brings total VC finance raised by Metalysis in the past five years to £19 million, with an additional £4 million secured in grants.

The company, which currently supplies low volumes of its products to clients, will use the money to scale up its technology and plans to enter the titanium and tantalum markets ‘significantly’ next year.

CEO Mark Bertolini says, ‘Raising over £5 million in this environment is a significant endorsement of our core technology and the progress that the company has made.’

Metalysis owns the rights to a process which, it claims, enables high-value metals to be produced more cheaply and with less impact on the environment. The company has grown from employing three people in 2005 to 43 today.

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