SUN METALON raises $21 million to decarbonize the metal industry
The Atomic Layers: S3E03 (00059)
Atomic Layer of the Day:
SUN METALON has announced the completion of its Series A funding round, raising $21 million. With the close of this round, the total amount raised by the company amounts to $30.7 million, including a $3.4 million loan from Sumitomo Mitsui Banking Corporation.
Founded in 2021, the company operates in both the United States and Japan, aiming to revolutionize the metal industry through innovative solutions that support sustainable production and recycling.
SUN METALON has developed an innovative technology that uses a specific metal heating process, enabling the transformation of metal waste, such as chips and scrap, into raw materials ready for reuse in production processes. A key element of this technology is a new method of heating metal without the need for fossil fuels, meaning that all the energy can come from renewable sources.
This process involves efficiently heating metal using specialized equipment, which is more compact and consumes less energy compared to traditional methods of melting and processing metal. The technology allows for fast and energy-efficient recycling of metal waste, such as metal shavings, into high-quality material that can be used in new products.
In practice, this means that SUN METALON converts typically low-value metal waste into raw materials that can be reused in production. The final product of this process is purified, high-quality metal, which can be used in the manufacturing of cars, construction machinery, and steel products.
Atomic Layer from the Past:
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