Koch Disruptive Technologies led a series B funding round in MetOx International, a leading North American manufacturer of high-temperature superconducting wire (HTS).
WHY IT MATTERS: As energy systems in the United States continue to evolve, new infrastructure and technologies are needed to ensure power distribution and delivery are safe and efficient, while meeting ever-growing demand. One area critical to our energy system is the wiring running between power generation facilities, distribution transformers and the ultimate end users like homes and businesses. New investments are needed in companies bringing innovative, large-scale solutions to the market that can solve these challenges.
WHY KOCH INVESTED: The Xeus™ HTS wire produced by MetOx is manufactured domestically ensuring supply chain reliability for key markets in the U.S.. As an advanced conductor, Xeus is dramatically more efficient and enables a much higher power-carrying capacity than traditional copper wire. Beyond the electric grid, HTS can also be used for other critical applications, including enabling compact fusion energy generation and advanced medical devices, such as compact MRIs and advanced cancer treatment equipment.
"We are thrilled to be partnering with MetOx on its quest to deliver large-scale supply of advanced conductor technology to improve power delivery efficiencies and other transformational technologies," said KDT Managing Director Stephen MacKenzie.
WHAT THEY’RE SAYING: "MetOx has proven its ability to manufacture the highest quality HTS at scale and is now increasing its production capacity to meet the needs of several key markets," said CEO Arthur (Bud) Vos. "Xeus wire is a critical technology for power generation, grid capacity expansion and numerous other applications, such as advanced medical diagnostics. Our continued production growth, supported by a major investment round, positions MetOx as the largest manufacturer of HTS in North America. We're excited to partner with KDT on our journey to wire the world."
WHAT’S NEXT: The Koch-led investment will allow MetOx to increase domestic production capacity for its Xeus HTS wire and enable further development of advanced technologies.
