BOSTON and TOKYO—Unity Aluminum subsidiary NanoAL announced it has signed a commercial license deal with Mitsubishi Corp. RtM Japan Ltd. (RtMJ) to bring its award-winning Addalloy advanced aluminum alloy powders to the rapidly growing metal additive manufacturing market in Asia.
The companies also signed a letter of intent for potential partnerships on additional NanoAL advanced aluminum alloy products including aluminum casting and rolled sheets for automotive and other industrial applications.
NanoAL is a wholly owned subsidiary of Unity Aluminum, which has spent five years seeking financing for a proposed $1.7 billion aluminum mill in Greenup, Ky., on the Ohio River just west of Ashland, Ky. The Commonwealth of Kentucky has a $15 million stake in the project, but has begun seeking return of its money because the mill project has not progressed.
“This announcement is an enormous signal of the market need for Addalloy powders. In partnership with RtMJ, a wholly owned subsidiary of Mitsubishi Corp., a global integrated business enterprise, we will now be able to reach across the globe to deliver the promise of our aluminum alloy technologies’ excellent performance and economics.” said Dr. Nhon Vo, CEO of NanoAL LLC.
“We believe the aluminum alloys developed by NanoAL are the essential materials for the next generation to achieve decarbonization, electrification and a circular economy. NanoAL and RtMJ will play an important role in creating a cleaner and greener society by combining the advanced technology of NanoAL with the global business network of RtMJ.” said Takehito Nagashima, General Manager of New Business Development and DX Office, Mitsubishi Corp. RtM Japan Ltd.
NanoAL is a research and technology company that designs, develops and commercializes high-performance aluminum alloys based on scientifically designed nanostructures. It is a wholly owned subsidiary and R&D arm of Unity Aluminum Inc. Mitsubishi Corp. RtM Japan Ltd., a subsidiary of Mitsubishi Corp. is a metals and mineral resources trading company with activity in coal and iron ore, aluminum, copper and precious metals, as well as nickel, chrome and rare metals.