Australia group pays £12.2m for stake in specialist Metalysis

Iluka Resources has agreed an 18.3 per cent stake in Metalysis and a right to increase its shareholding to up to 24.9 per cent in the event of an initial public offering.

Metalysis has developed a patented process for the production of high value metals and innovative alloys.

David Robb, managing director at Iluka, said: “Iluka’s involvement as a major shareholder and funding partner provides Iluka shareholders with access to a new, potentially disruptive technology which is close to commercialisation, and the potential benefits of a new source of high grade titanium dioxide feedstock demand, as well as a commercial involvement in a potential new growth pathway for high value metals and alloys and new manufacturing processes such as 3D print- ing.”

Tony Pedder, chairman of Metalysis, welcomed Iluka as a funding partner.

He said: “Iluka’s expertise in titanium dioxide as a feedstock, process engineering experience and access to global markets can make a significant impact on Metalysis’ development.

“The Metalysis process has applications across metals in the periodic table including: titanium, tantalum and rare earths and with Iluka’s access to titanium dioxide feedstock there is the potential to produce titanium powder with much greater efficiency and at a much lower cost than is currently possible.”

3D printers have already created automotive parts using low-cost titanium powders developed by Metalysis.

The company’s technology heralds a new era in additive layer manufacture.