To date Alvant have raised £2.35m in a £2.5m round. John Bonas, CEO of Alvant Group, said: “In order to fund Alvant’s technology commercialisation strategy and growth aspirations, the company opened the first of two strategic rounds of equity funding where a $1m investment from Monument capital was received in October 2019. The funding raised underpins Alvant’s 5 year plan and provides the necessary support to recruit additional key technical staff, initiate a number of internal development projects and provide a level of working capital in order to support existing and new commercial projects.”
Monument said “we share Alvant’s environmental philosophy and are excited by their strategic objectives”. Alvant stated that “its technology and innovative problem-solving capability is producing exciting new customer engagements and product development directed at some of today’s most challenging issues in the areas of light-weighting, strength, stiffness and thermal electrical properties”. Alvant is targeting transportation; land, sea and air markets at a time when these industries are under pressure to improve performance, reliability and sustainability. Monument Capital said “we are delighted to be a part of shaping the market in these areas”.
About Alvant Plc
Alvant Plc and its operating subsidiary, Alvant Ltd, form an advanced materials technology group that is involved in the specification, creation, manufacture and licensing of aluminium metal matrix composite (AMC) solutions. AMCs are lightweight high-performance metals that have the strength of steel but at half the weight. With the potential to be used across a range of industries, AMCs not only help meet sustainability targets but also enhance product capability.