MetOx International Secures Additional Capital for Expansion, Welcomes Strategic Investors
HOUSTON, TX September 23, 2024 – MetOx International, Inc. (MetOx), a leading U.S.-based developer and manufacturer of high-temperature superconducting (HTS) wire, today announced the successful close of a $25 million Series B Extension. As part of this funding, we welcome several marquee investors including energy-focused family office, Centaurus Capital and premier climate and energy transition-focused venture firm New System Ventures (NSV). This investment signals strong investor confidence in the company’s rapid scale up of its Xeus™ HTS wire technology for key energy transition applications.
MetOx’s proprietary manufacturing technology enables production of HTS wire at commercial scale, positioning the company at the forefront of the energy transition. This investment will support the expansion of the company’s U.S.-based manufacturing capabilities, enabling MetOx to meet rapidly growing domestic and global demand for HTS solutions.
High temperature superconductors are revolutionizing critical sectors in energy such as highly efficient transmission and distribution - including for data center applications - as well as next generation wind turbines and interconnections, and the high field magnets required for magnetic containment fusion energy systems. By continuing to innovate and scale in HTS, MetOx aims to deliver transformational solutions that enhance this energy infrastructure and support emerging applications such as medical devices, aerospace and defense sectors where its lightweight, high-power solutions present unique advantages.
"This funding marks a pivotal step in our mission to revolutionize the energy and technology sectors with our advanced power delivery technology and accelerate delivery for our customers and partners. HTS is critical to enhancing the efficiency of our electric grid and enabling technological developments that, in many cases, would not be viable or even possible without superconductor technology,” said Bud Vos, CEO of MetOx. “Support from investors such as Centaurus and NSV not only provides the financial resources and strategic support required for accelerated scaleup, but also validates the broad reach of our technology across energy, data center, medical, and defense industries.”
John Arnold, Founder of Centaurus, added, “MetOx has developed a robust and highly scalable operation, and we are thrilled to partner with the Company as it enters this pivotal growth stage. The market for HTS is expanding at an unprecedented pace, with demand for HTS far outweighing supply. MetOx is poised to be the leading U.S. HTS producer, closing the supply gap and bringing dramatic capacity to high power innovations and applications. Their progress and potential are unmatched in the field, and we are proud to support their growth.”
"MetOx’s HTS technology aligns with our systems-level research and offers a unique opportunity to dramatically accelerate the energy transition,” said Ian Samuels, Founder and Managing Partner at NSV. “MetOx’s Xeus wire stands to be a force multiplier in clean energy generation and high-power transmission and distribution, enabling load growth and the deployment of power-dense data centers. NSV is excited to support MetOx as it scales domestic manufacturing capacity.”
About Centaurus Capital and New System Ventures
Centaurus Capital
Centaurus is a family office focused on energy and infrastructure investments, with a focus on supporting companies that contribute to a sustainable energy future.
New System Ventures
NSV invests in the world’s leading companies accelerating decarbonization and innovation across mobility, energy and industry.
For more information, contact media@metoxtech.com