News and Announcements
Veloxint Selected for Department of Energy Grant to Accelerate Innovation in the Manufacture of Advanced Nanocrystalline Metal Alloys
FRAMINGHAM, Mass.--(BUSINESS WIRE)--The US Department of Energy Advanced Manufacturing Office (AMO) has selected Veloxint Corporation for a 3-year grant under the category of Innovations for the Manufacture of Advanced Materials. The project will bring together a world class industrial-government-academic team consisting of GE Research (GE), Oak Ridge National Laboratory (ORNL), University of Kentucky (UK), and Veloxint to develop and scale next generation nanocrystalline metal alloys via advanced manufacturing processes. The new metals will be stronger and lighter with excellent corrosion, wear and heat resistance, and the team will demonstrate lightweight engine blades from these metals with the potential for substantial improvements in specific fuel consumption of commercial aircrafts.
Veloxint Corporation wins "Breakthrough Solution of the Year" - see all 2018 S&P Global Platts Global Metals Award winners here.
NEW YORK--(BUSINESS WIRE)--The Edison Awards, celebrating 31 years of honoring the best in innovation and excellence in the development of new products and services, announced that Veloxint was voted a Bronze Winner for Space Technology at their April 11th ceremony at The Capitale in New York City. Veloxint was represented alongside some of the world’s most recognized companies at the event acknowledging the hard work and commitment of all of the 2018 Edison Award winners.
Braidy Industries Completes $75 Million Issue of Common Stock and Closes Acquisition of High-Technology Metals Company Veloxint
ASHLAND, Ky.--(BUSINESS WIRE)--Less than one year after their announcement of plans to construct a $1.5 billion greenfield aluminum mill in Greenup County, Kentucky, Braidy Industries announces its successful completion of a $75 million Series B common stock issuance at $10 per share. Following the close of this financing, Braidy Industries finalized its acquisition of 100% of the outstanding equity of MIT-incubated ultra-high strength alloy and powder metallurgy provider, Veloxint.
Veloxint Announces Strategic Investment and Technology Development Agreement with Stanley Black & Decker
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Veloxint Corporation, a developer of nanocrystalline metal alloys with transformational properties, has closed a strategic investment agreement with Stanley Black & Decker, a global provider of tools and storage, commercial electronic security, and engineered fasteners. Concurrently, both parties have entered into a technology development agreement to jointly commercialize these breakthrough metal alloys for applications of mutual interest. Financial terms of the deal were not disclosed.