Amastan Technologies raises $11M, rebrands as Amastan Additive
The company also acquired titanium producer AL Solutions, Inc.
Amastan Technologies, a manufacturer of advanced ceramic, metal and composites materials, has made a couple of big announcements that move it more into the additive sphere. First, the company has successfully raised $11 million in funding through a Series B-2 round led by VC firm Anzu Partners. And second, the Massachusetts-based company has acquired Pennsylvania-based titanium producer AL Solutions, Inc. The new funding will enable Amastan to expand operations in Pittsburgh, combining its own technology with AL Solutions’ titanium process, by building a new facility for manufacturing additive manufacturing metal powders.
AL Solutions, Inc. serves a number of industries, including aerospace, automotive and medical, with its refined titanium materials. The company offers a proprietary titanium recycling process, capable of transforming scrap titanium left over from machining operations into essential inputs for metal alloys. AL Solutions has been recognized with ISO 9001 certification and produces over one million pounds of its Ty-Gem titanium alloying compacts a year.
Following the acquisition of AL Solutions by Amastan Technologies, the latter will invest its new funding to expand the Ty-Gem production capacity in Pittsburgh and establish a new AM metal powder production facility. This facility will combine AL Solutions’ proprietary metal handling processing and Amastan’s UniMelt Technology to supply fine metal powders for the additive manufacturing industry.
The UniMelt process is a high-power microwave-based plasma system developed by Amastan for creating advanced powder and particle materials. The technology is capable of producing high-value nano, nano-structured and spheroidized materials using a one step, continuous flow through plasma process. The high quality powders produced using the process can be used in industrial additive manufacturing, thermal barrier coatings and more.
Amastan Additive
With its increased focus on 3D printing materials and its added capacity in Pittsburgh, Amastan Technologies is rebranding itself as Amastan Additive. The company says it expects to launch its first line of premium 3D printing powders later this year.
Aaron Bent, PhD, CEO of Amastan Technologies, said: “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.”
“We are excited to become part of the Amastan team,” added Frank Roberts, CEO of AL Solutions and the new President of Amastan Additive. “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 a sustainable, low cost, and infinitely flexible feedstock source for high performance Additive/3D metal powders.”
The $11 million Series B-2 funding round followed a previous Series B funding round in Q4 2017 which brought in $13.85 million. Both Series B and B-2 funding rounds brought in investments from Launch Capital, Material Impact and RKS Ventures. The terms of the AL Solutions acquisition have not been disclosed.
