Amastan announces $11 million funding round, acquires AL Solutions for production of AM titanium powder

News
May 29, 2019

May 29, 2019

Amastan Technologies, a producer of advanced metal, ceramic, and composite materials headquartered in North Andover, Massachusetts, USA, reports that it has raised $11 million in new funding. The Series B-2 funding round, led by venture capital firm Anzu Partners, also includes existing investors Launch Capital, Material Impact and RKS Ventures. This funding round follows Amastan’s initial $13.85 million Series B funding round in Q4 2017.

The company further announced that it is has acquired AL Solutions, Inc., a producer of refined titanium materials for the aerospace, automotive and medical industries, Burgettstown, Pennsylvania, USA. It employs proprietary technology to recycle titanium scrap from machining operations into essential inputs for metal alloys. It is reportedly ISO 9001 certified and produces over one million pounds of its Ty-Gem™ titanium alloying compacts annually.

Amastan states that investments are planned in the Pittsburgh, Pennsylvania area to expand Ty-Gem production capacity and build a new AM metal powder production facility, combining AL Solutions’ proprietary metal handling processing and Amastan’s UniMelt™ technology. AL Solutions, to be rebranded as Amastan Additive, is expected to launch a range of premium powders in late 2019 for the metal Additive Manufacturing markets.

“This additional infusion of capital, along with the acquisition of AL Solutions, accelerates Amastan into full production mode and creates a clear and unique pathway for us to manufacture premium metal powders that are derived from sustainable sources,” stated Aaron Bent, PhD, CEO of Amastan Technologies.

Frank Roberts, AL Solutions’ CEO, has been named President of Amastan Additive. Roberts commented, “We are excited to become part of the Amastan team. Our company has a one-of-a-kind production technology to process titanium and other metal streams from subtractive machining processes. This capability will provide Amastan Additive with a sustainable, low cost, and infinitely flexible feedstock source for high performance additive/3D metal powders.”

Amastan was recently awarded a Phase I Small Business Innovation Research (SBIR) grant through the Defense Logistics Agency for the production of premium metal powders from sources of aerospace scrap nickel superalloy products. It was also awarded a $1 million Phase II SBIR grant through the U.S. Department of Energy (DOE)’s Office of Energy Efficiency and Renewable Energy (EERE) to continue its development of advanced cathode materials for electric vehicle (EV) batteries.

The company exhibited at Rapid+TCT in Detroit, Michigan, USA, from May 21–23, 2019, and will be speaking at TechConnect World 2019, in Boston, Massachusetts, USA, from June 17–19.

www.amastan.com

News
May 29, 2019

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • From powder modification to rejuvenation: Fluidised Bed Reactors in metal powder production and Additive Manufacturing
  • Retech: Enabling the atomisation of reactive and refractory alloys at substantially higher levels of productivity and lower cost
  • Sustainability in Powder Metallurgy: Highlights from the 41st Hagen Symposium
  • Innovations from Japan’s Powder Metallurgy industry: award winners highlight novel automotive and healthcare applications

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

 

Browse the archive

 

Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
View online
Share via
Copy link