SUN METALON Inc., a metal 3D printing startup that crossed our radar last year, has closed a $21 million Series-A funding round, increasing its total capital to $30.7 million.
JIC Venture Growth Investments, Sumitomo Corporation Global Metals, HITE Hedge Asset Management, and existing backers UTEC and Globis Capital Partners are valued among the round’s key investors.
This new capital injection is critical because it will help SUN METALON achieve its main objectives of decarbonizing the metal industry and developing sustainable processes for manufacturing and recycling metals.
Since its founding in 2021, this company has been operating in Japan and the United States to develop its metal heating technology while establishing partnerships across different sectors.
Despite expanding operations in the United States, SUN METALON has established intellectual property protection strategies such as acquiring principal patents in Japan and the U.S.
Unlike the conventional process normally based on fossil fuel, a clean process stands a chance of achieving zero emissions; thus, the proprietary process from Sun Metalon recycles the waste of metals into rich and reusable material with fewer environmental effects.
SUN METALON CEO, Kazuhiko Nishioka explains, “The metal industry is at a critical juncture, facing dual challenges of decarbonization and the need for a circular supply chain. Our proprietary heating technology addresses issues by significantly reducing CO2 emissions and enabling efficient metal recycling, all while keeping costs low. This funding will accelerate our efforts to implement our heating process with client firms and expand our metal manufacturing abilities using local metal resources. We’re committed to driving the transition to a low-carbon, circular economy in the metal industry.”
With a space-efficient and cost-effective system, SUN METALON could meet the rising global demand for greener solutions in the automotive, construction machinery, and steel manufacturing sectors. The company said its technology could reduce energy consumption by 85% compared to existing methods when heating and purifying metal chips and scraps.
“The future of mobility requires smart utilization of our resources, and multiple companies in the automotive industry already appreciate SUN METALON’s advanced solutions for making mobility and industrial manufacturing better and sustainable. Such aligned innovation fits well with our profiting strategies from the energy transition. We’re excited to see the future unfold for the company and its partners and customers,” reveals David A. Levine, Portfolio Manager of HITE Hedge.
Author: Nagarjun M
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