Foundation Alloy raises $10.5 million to further its mission to leverage materials technology to produce better performing metal parts with less energy
With funding led by The Engine and Material Impact, and participation from Safar Partners, the company will improve metal parts performance while increasing supply chain efficiency, flexibility and reliability.
CAMBRIDGE, Mass. – (BUSINESS WIRE) – June 1, 2022 — Foundation Alloy, a vertically integrated metal parts production platform, today announced a $10 million investment co-led by The Engine, the MIT spin-off venture capital firm that invests in Tough companies Startup Tech, and Material Impact. Safar Partners also participated in the round table. The funding will fuel Foundation Alloy’s plans to commercialize its integrated approach to parts production, enabling flexible production of high-performance parts while reducing manufacturing time, waste and energy. Specifically, capital will go to a pilot facility to validate and demonstrate the technology and business value to customers. Foundation Alloy’s high-performance material design intellectual property, combined with state-of-the-art manufacturing and a vertically integrated, software-enabled approach, will not only overcome current design and performance ceilings, but also add new flexibility, capacity, efficiency and reliability to the supply chain.
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Foundation Alloy’s leadership team (Photo: Business Wire)
Foundation Alloy was founded in February 2022 by CEO Jake Guglin, Head of Research and Development Jasper Lienhard, and Professors Chris Schuh (Massachusetts Institute of Technology) and Tim Rupert (University of California, Irvine). Its core intellectual property powers the design of metals with properties superior to the current state of the art, which can be tailored to specific applications in critical industries such as aerospace and defense, automotive, energy and industrial manufacturing. These materials are also designed to be made more easily through advanced manufacturing, solving many of the cost, speed, and quality issues that currently limit the adoption of technologies such as 3D printing.
“Metal is involved in one way or another in almost every industry in the world, but we continue to rely on materials and processes developed in the 1950s. The latest and most innovative applications have need a new foundation of advanced materials and processes to build on,” said co-founder and CEO Jake Guglin. “By enabling a higher echelon of performance, while increasing the speed, flexibility, and reliability of metal parts supply chain, we will support the next generations of products in critical industries.”
Foundation Alloy materials technology underpins two major innovations. The former creates significant improvements in sintering, a critical process in manufacturing techniques such as metal injection molding and state-of-the-art binder jet 3D printing. By using FA materials, parts can be freely sintered to full density in less time, at lower temperatures, and without deformation due to slump. Compared to current state-of-the-art 3D printing, this allows parts to be manufactured faster, using 50% less energy, and with greater consistency, quality, and design space. . Compared to traditional manufacturing processes such as casting and forging, simply enabling and enhancing AM 3D printing can deliver higher quality, better-designed parts in days instead of months, at a lower cost. and with more flexibility in the supply chain.
However, in addition to improved producibility, AM materials can also be engineered to reach new heights of performance in properties such as specific strength and toughness. In an early example, FA produced a molybdenum-based alloy (often used in high-temperature applications) with 3 times the hardness of current market leader TZM, while maintaining other critical properties . These innovations, when combined with Foundation Alloy’s vertically integrated business model, will enable the company to not only deliver parts with 2x or more performance improvements, but also 10x or more increases in efficiency, the speed and reliability of the supply chain.
Milo Werner of The Engine and Carmichael Roberts of Material Impact will join Foundation Alloy’s Board of Directors.
“Foundation Alloy sits at the crossroads of three critical societal challenges and opportunities: greener production is a global imperative, additive manufacturing is accelerating, and manufacturing in the United States is a national priority,” said Milo Werner, General Partner from The Engine. “The team’s combined scientific and industrial expertise, coupled with their passion and drive to undertake something as transformative as reimagining the metal parts supply chain from the materials level down, is truly representative. of what The Engine considers Tough Tech.”
“Additive manufacturing has come a long way over the years through smart processes to make viable components and products. Today, the scarcity in the equation is not in the printing and molding tools, but rather in the diversity and design of the materials to be used in these processes,” said Carmichael Roberts. “It is the material that determines the performance and value of the process and the resulting products. That’s what got me so excited about Foundation Alloy’s ability to deliver a unique and powerful set of materials that can be used in today’s cutting-edge processes for additive manufacturing.
About the base alloy
Foundation Alloy incorporates proprietary alloy design technology from MIT and UC Irvine, advanced manufacturing and automation to overhaul the metal parts manufacturing industry. FA metals can be fabricated with less time, less energy and better results than traditional materials, and have mechanical properties superior to the current state of the art. With a focus on scalable, quality advanced manufacturing, FA will provide the production performance and efficiency, flexibility and reliability needed to unlock the next generations of industrial products. For more information, contact: [email protected]
About the engine
The Engine, spun off from MIT, invests in early-stage companies that solve the world’s biggest problems through a convergence of groundbreaking science, engineering and leadership. We accelerate the path to market for Tough Tech companies through the combination of capital, infrastructure and network. The Engine is headquartered in Cambridge, MA. For more information, visit www.engine.xyz.
About the impact on materials
Material Impact is a venture capital fund that invests in building companies that transform material technologies into products that impact real-world problems. Material Impact is headquartered in Boston, Massachusetts. For more information, please visit http://www.materialimpact.com
About Safar Partners
Safar Partners is an early-stage and growth-stage venture capital fund that invests primarily in technology companies from MIT, Harvard and the University of Rochester. Safar leverages private equity principles to create value as our businesses evolve beyond initial prototypes. We are accelerating the scaling of our portfolio companies through the formation of spin-outs or joint ventures to address additional markets, industries or geographies. To learn more about Safar Partners, visit