Veloxint, a developer of advanced nanocrystalline metals for use in AM (among other segments) was acquired by Brady Industries just last April. The company has now been named a 2018 Bronze Edison Award Winner. The Awards Celebrate 31 Years of Honoring Innovators and Innovation and Veloxint is driving innovation through the development of materials for Desktop Metal‘s Production system.
Veloxint is an MIT-incubated lightweighting solutions company focused on the development and commercialization of its proprietary powder metallurgy technology that enables the design and manufacture of metal parts that are both lighter and stronger than the current state-of-the-art.
Being recognized with an Edison Award has become one of the highest accolades a company can receive in the name of innovation and business. The awards are named after Thomas Alva Edison (1847-1931) whose inventions, new product development methods and innovative achievements literally changed the world, garnered him 1,093 U.S. patents, and made him a household name.
Veloxint CEO and co-founder Dr. Alan Lund said that “Veloxint is enabling a leap forward in metals properties and processing, developing lighter, stronger, stiffer metals that can be printed with full properties. We are grateful – he added – to be recognized for our team’s innovative work expanding Veloxint’s technology into point-of-need manufacturing for space applications.”
Dr. Chris Schuh, Head of the Department of Materials Science and Engineering at MIT, Veloxint co-founder and member of the Braidy Industries Board of Directors added that “it is a great honor to be recognized for our potential to impact space technologies. After 15 years of basic research and development engineering on nanocrystalline metals, we are now able to produce bulk net-shape components that are lighter, stiffer, and stronger than conventional structural metals. Nowhere can this set of properties combine to offer more direct value creation through lightweighting than in space applications, and we are excited to pursue such directions.”
In congratulating Veloxint, parent company Braidy Industries CEO and Chairman of the Board of Directors, Craig T. Bouchard said, “Braidy Industries thanks the Edison Awards for recognizing our science and the fantastic team at Veloxint. With this and other upcoming technical announcements, our company is positioning to lead a transformational wave of technological innovation within the metals industry, similar to the way that Apple and Google changed our lives through devices and the Internet two decades ago.”
In the Braidy family
Just last April Braidy Industries completed $75 Million issue of common stock and closed the acquisition of Veloxint. With its proprietary ultra-high-strength powder metallurgy technology, the MIT startup was acquired in a stock exchange for 100% of its outstanding equity, making Veloxint a wholly-owned subsidiary of Braidy Industries.
“We are excited to officially bring Veloxint into the Braidy Industries family. This will enable the next step in fulfilling our original vision of transforming the metals industry using Veloxint’s proprietary materials design toolset to offer high-performance, cost-effective next-generation metal products,” said Craig T. Bouchard, Braidy Industries Chairman and CEO. “The close of our Veloxint acquisition places Braidy Industries in position to meet the demands and challenges of a transportation industry in need of cost-effective light-weighting. In the very near term, Veloxint will become the ‘lighter and stronger’ standard for transportation, mining, tools and consumer goods. This is a terrific win for Kentucky, and consistent with the goal of converting the Northeast corner of our beautiful state into the global intersection of science and advanced manufacturing.”
The manufacturing base for Veloxint will be co-located with the Braidy Industries aluminum rolling mill at the EastPark Industrial Center in Ashland, Kentucky. Veloxint Research and prototyping facilities will continue to be located in the Boston, Massachusetts area and will be enhanced and expanded in scope. Veloxint expects to begin staffing advanced manufacturing positions, and will incorporate its training program in collaboration with Ashland Community and Technical College into the Braidy Industries Advanced Manufacturing Degree Program.
Veloxint will be led by its current CEO Dr. Alan Lund, who will assume the additional role of Braidy Industries’ Chief Technology Officer. Of the developments, Dr. Lund said, “We are excited to officially bring Veloxint into the Braidy Industries family. This will enable the next step in fulfilling our original vision of transforming the metals industry using Veloxint’s proprietary materials design toolset to offer high-performance, cost-effective next-generation metal products.”
Ret. Gen. Blaine Holt (USAF), Braidy Industries COO, said that “this milestone was a critical test of an amazing team and we passed with flying colors. Our EastPark campus is developing as a repository of exponential solutions to the most demanding automotive and aerospace challenges. At Braidy, we maintain our humble and hungry attitude and we are on track to change the world.”