Braidy Industries acquires advanced materials company Veloxint
March 7, 2018
Braidy Industries, Ashland, Kentucky, USA, has acquired Veloxint, a developer of nanocrystalline metal alloys using Powder Metallurgy technology. The acquisition, which will see the company partially relocate from Massachusetts to Kentucky, will give Braidy Industries access to the its proprietary ultra-high-strength PM technology.
Voxelsint’s technology uses traditional PM process techniques which have been used in the industry for decades, but with proprietary metal powder mixtures, identified and developed using technology developed at the Massachusetts Institute of Technology (MIT). The process is said to be highly scalable, and can be used to serve both niche and high volume applications.
Craig T Bouchard, Braidy Industries Chairman and CEO, stated, “The close of our Veloxint acquisition places Braidy Industries in position to meet the demands and challenges of a transportation industry in need of cost-effective light-weighting. In the very near term, Veloxint will become the ‘lighter and stronger’ standard for transportation, mining, tools and consumer goods.”
Veloxint’s new manufacturing base will reportedly be co-located with the Braidy Industries aluminium rolling mill at the EastPark Industrial Center in Ashland, Kentucky. Veloxint’s research and prototyping facilities will continue to be located in Boston, Massachusetts area where Braidy states that they will be enhanced and expanded in scope.
Ret Gen Blaine Holt (USAF), Braidy Industries COO, said, “This milestone was a critical test of an amazing team and we passed with flying colours. Our EastPark campus is developing as a repository of exponential solutions to the most demanding automotive and aerospace challenges. At Braidy, we maintain our humble and hungry attitude and we are on track to change the world.”
Veloxint will be led by its current CEO Dr Alan Lund, who will assume the additional role of Braidy Industries’ Chief Technology Officer. Of the developments, Dr Lund said, “We are excited to officially bring Veloxint into the Braidy Industries family. This will enable the next step in fulfilling our original vision of transforming the metals industry using Veloxint’s proprietary materials design toolset to offer high-performance, cost-effective next-generation metal products.”
