Tantaline Raises $3.6M Series B
Round led by Berwind Private Equity, Vaekstfonden, and CC Holdings.
WALTHAM, MA, Tantaline(R) , the world's leading producer of tantalum surface alloys for hot acid environments, today announced it has closed a round of Series B funding totaling $3.6 million. Led by Berwind Private Equity (US), Vaekstfonden (DK), and CC Holdings (DK), the funding will be used to further expand the Company's markets and technical capabilities in the United States and Europe.
Today's industrial processes and cutting-edge applications continue to push the limits of materials as they strive for greater energy efficiency with more aggressive chemistries, higher pressures, and elevated temperatures. As a result, corrosion is one of the biggest challenges to the success, cost effectiveness, durability, and safety of these applications. Tantaline addresses this critical market need by providing engineers with the most corrosion resistant material commercially available, positioning itself as an enabling technology for many of these applications.
"This new round of funding enables us to continue our strong growth and market penetration in the United States and Europe," said Peter Lock, CEO of Tantaline. "Our technology is disrupting the corrosion materials industry, as we can offer an unmatched combination of performance and cost compared to all other alloy metals. We look forward to continuing to build and lead the tantalum surface alloy category and expand further into new markets and products."
Launched in 2007, Tantaline's technology involves heating and reacting pure tantalum metal to produce a gaseous atmosphere of tantalum and create an alloy bond on the part's surface (and into the core substrate), becoming a true surface alloy. The completed part maintains the original OEM part's size and shape but has the same chemical properties and corrosion resistance as pure tantalum metal. The result is the most corrosion resistant product commercially available, offering significantly higher corrosion performance compared to HASTELLOY(R) B, C, and D alloy grades, titanium, and zirconium. Tantaline's products are used primarily in the following industries: oil and gas, chemical processing, energy, pharmaceuticals, and mining.
Tantaline is the world`s leading producer of surface alloys for hot acid environments. Through its innovative tantalum surface alloy technology, Tantaline delivers the most corrosion resistant material that is commercially available today. With superior corrosion performance and affordability compared to nickel alloys, titanium, and zirconium metals, Tantaline helps businesses, ranging from global manufacturers to laboratories, reduce costs, increase productivity, and improve safety. A private corporation, Tantaline`s industry expertise includes chemical processing, mining, oil and gas, energy, and pharmaceuticals.
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