02/23/2022 10:00:00 CET, Reutlingen Minority interest in MetOx Technologies, Inc., a specialist in the manufacture of superconductor wires | Key technology for the energy supply of the future | Proprietary vacuum coating technology is central to industrial production of superconductors | Investment amount is in the low single-digit million-dollar range
Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, is acquiring a stake in MetOx Technologies Inc. and thus tapping into superconductor technology as an important future market for energy supply. Superconductors will play an important role in meeting the immense future demand for electricity in metropolitan areas, where the conventional supply network will reach its performance limits. Electromobility in particular will face challenges in metropolitan regions in this regard, which can be met with the new technology.
With this investment, Manz AG intends to significantly accelerate the industrialization and mass production of superconductors. To this end, Manz is contributing its expertise in vacuum coating technology acquired in the solar sector as well as competencies from roll-to-roll, laser and automation technology. The investment follows Manz AG's corporate strategy of further developing its technology portfolio in promising future industries through targeted M&A activities.
MetOx Technologies Inc, a venture-stage company based in Texas, USA, is a specialist in the manufacture of superconductors. The company has developed a breakthrough manufacturing process for the cost-effective production of HTS (high-temperature superconductor) tapes. Addressable markets for this key enabling technology include replacement of copper-based cables in metropolitan power supply, magnets for nuclear fusion power generation, and medical technology.
Martin Drasch, CEO of Manz AG, comments, "We are convinced that MetOx's technology will play an important role in the global energy transition, as well as in the expansion of the charging infrastructure in the course of the growth of electric mobility. Therefore, we are looking forward to contributing our know-how, for example in vacuum coating technology, and to developing and building industrial-scale production facilities together with MetOx."
Manz is acquiring a stake in MetOx Technologies Inc. and thus tapping into superconductor technology as an important future market for energy supply.
