US-based Braidy Industries has acquired NanoAl, a world leader in the science of nanocrystalline strengthening technology applied to sheet aluminium, as a third wholly-owned subsidiary.
NanoAl will join the Braidy Atlas aluminium rolling mill and Veloxint in the Braidy Industries company portfolio of holdings, said a statement from the company.
NanoAl was founded out of the Department of Materials Science at Northwestern University to commercialise the science of developing stronger aluminium alloys through control of key structural features at the nanoscale.
Braidy believes the technology has the potential to significantly enhance the specific strength of aluminium to be produced by its Braidy Atlas mill, creating a competitive advantage within the automotive and aerospace OEM marketplace.
Veloxint chief executive and chief technology officer of Braidy Dr Alan Lund said: “We believe NanoAl’s innovative approach will enable sheet aluminium 20 per cent stronger than conventional grades, while maintaining lower cost.”
“The technology also applies to powder metallurgy, including 3D printing applications, allowing additional synergies between the Braidy Atlas mill and Veloxint,” he said.
“This is another exciting step towards our goal of rebuilding Appalachia with cutting edge technology focused on light weighting solutions,” he added.
Dr Nhon Q Vo, chief executive, chief technology officer and co-founder of NanoAl, said: “Our new partnership with Braidy Industries and Veloxint provides the opportunity to scale our research and development capabilities and become the innovation leader in nano-science technology of light metals.”
Craig T Bouchard, Braidy Industries chairman and chief executive, said: “We have been pleasantly surprised at the opportunity to grow our powder metallurgy business via acquisition.”
“Also, we have been approached by numerous parties to consider building our second rolling mill. We intend to pursue these opportunities,” he added. – TradeArabia News Service