A Rotherham metals company is set to soar on a £20m investment to commercialise its pioneering products in a host of hi-tech industries.
Metalysis, of Wath, announced a combined investment from Woodford Patient Capital Trust, managed by Neil Woodford, one of Britain’s most prominent fund managers, and Iluka Resources, an existing investor.
The cash will help the firm develop uses for its metal powders - including titanium and tantalum - in sectors including aerospace, automotive and medicine.
It is also set to create 12 jobs at the 50-strong firm.
Metalysis has pioneered revolutionary new production techniques that are faster, cheaper and greener than traditional methods and ideally suited to 3D printing.
Dion Vaughan, CEO of Metalysis, said: “Metalysis’ development and expansion over recent years has been remarkable, as we have attracted strong market interest and developed great commercial relationships.
“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.”
Only last month, Metalysis announced a partnership with 3D printing specialist TWI in Rotherham to produce perfect replacement hips from patient scans.
The firm, which moved from Cambridge to South Yorkshire 11 years ago to take advantage of the area’s metals expertise, is backed by strong relationships with Sheffield, Cambridge and Newcastle Universities.
David Robb, of Iluka, said: “The prospect of commercial volumes of titanium metal powder at a materially lower cost than current technologies, could drive a dramatic expansion in global demand for titanium.”