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Braidy Industries Acquires Aluminum Technology Leader NanoAl
NanoAl, a materials research and technology company, designs, develops and commercializes high-performance aluminum alloys based on scientifically-designed nanostructures ASHLAND, Ky.-Saturday 22 September 2018 [ AETOS Wire ] (BUSINESS WIRE) -- Braidy Industries, Inc. (“Braidy”) has acquired NanoAl LLC (NanoAl), a world leader in the science of nanocrystalline strengthening technology applied to sheet aluminum, as a third wholly-owned subsidiary. NanoAl will join the Braidy Atlas aluminum rolling mill and Veloxint in the Braidy Industries company portfolio of holdings. NanoAl was founded out of the Department of Materials Science at Northwestern University to commercialize the science of developing stronger aluminum alloys through control of key structural features at the nanoscale. Braidy believes the technology has the potential to significantly enhance the specific strength of aluminum to be produced by its Braidy Atlas mill, creating a competitive advantage within the automotive and aerospace OEM marketplace. “We believe NanoAl’s innovative approach will enable sheet aluminum 20 percent 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,” said Veloxint Chief Executive and Chief Technology Officer of Braidy, Dr. Alan Lund. “This is another exciting step towards our goal of rebuilding Appalachia with cutting edge technology focused on lightweighting solutions.” 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. And, we have been approached by numerous parties to consider building our second rolling mill. We intend to pursue these opportunities.” About Braidy Industries: Braidy Industries is a future-leaning advanced manufacturer of metals for the global transportation and defense industries. The company’s first project, the Phase I construction of a greenfield aluminum rolling mill at EastPark Industrial Center in Ashland, Kentucky, will position the company as the low-cost provider of 300,000 annual tons of production-ready series 5000 and 6000 aluminum sheet for the automotive industry. Braidy’s Veloxint subsidiary is an MIT-incubated light weighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, acquired on September 18, 2018, is NanoAl, a world leader in the science of nanocrystaline technology applied to sheet aluminum. To learn more about Braidy Industries, visit www.braidyindustries.com. About NanoAl: NanoAl LLC is a materials technology company dedicated to designing, developing, and commercializing high-performance aluminum alloys based on scientifically-designed nanostructures. NanoAl was formed after 17 years of research at Northwestern University. NanoAl alloys can be processed by conventional (casting) and non-conventional (powder metallurgy) methods, and have a wide range of application in the automotive, power transmission, and other industries. To learn more about NanoAl, visit https://www.NanoAl.com/. Contacts Media: Braidy Industries, Inc. Jaunique Sealey, +1-606-575-3121 jsealey@braidyindustries.com Permalink : https://www.aetoswire.com/news/braidy-industries-acquires-aluminum-technology-leader-nanoal/en
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