The Venture Codex

Led · Series B · Sep 2024

MetOx manufactures high-temperature superconducting (HTS) wire using proprietary processes to produce its scalable, high-performance Xeus™ wire. The company's Xeus wire targets applications in renewable energy, fusion energy, high-field magnets, and electrification of the power grid. MetOx is expanding its Houston, Texas production line to scale large‑scale production of Xeus wire. The company emphasizes building domestic manufacturing capacity to advance grid modernization and create quality manufacturing jobs. MetOx has partnered with Elemental Impact to accelerate production and deployment of its HTS technology. MetOx develops High Temperature Superconducting (HTS) technology and is focused on scaling domestic HTS manufacturing capacity. The company plans to build additional high-capacity HTS manufacturing facilities in the U.S. to improve production efficiency, scale, and supply-chain security. MetOx positions its technology for power transmission, grid expansion, renewable energy, hyperscale data centers, AI applications, and fusion energy. The company is partnering with the U.S. Department of Energy and strategic investors to advance clean-technology manufacturing. Its recent financing activity and an $80 million DOE grant are intended to accelerate manufacturing scale-up, job creation, and a more resilient HTS supply chain. MetOx is headquartered in Houston and emphasizes domestic production to meet surging market demand. MetOx International develops and manufactures high-temperature superconducting (HTS) wire using proprietary production technologies. Led by CEO Bud Vos, the company is accelerating manufacturing scale-up to supply HTS solutions across energy transmission, wind power, fusion energy, medical applications, aerospace, and defense. MetOx leverages its proprietary production methods to deliver lightweight, high-power solutions aimed at enhancing energy infrastructure and supporting emerging applications. The company intends to use new capital to expand operations and advance its development efforts. Financially, MetOx has closed a $25M Series B extension to support that scale-up. The funding is intended to help the company commercialize and scale its manufacturing capabilities for a range of high-demand HTS markets. MetOx Technologies manufactures high-temperature superconducting (HTS) wire using an enhanced and patented manufacturing process. The company is based in Houston, Texas and sells large quantities of HTS at prices intended to support widespread adoption. Proceeds from a recently completed $23 million Series A will be used to construct an advanced production facility expected to produce approximately 1,200 kilometres per year of HTS wire, roughly doubling 2020’s global supply of magnet wire. MetOx says its production system targets a cost-effective, scalable supply to address current shortages as mainstream use of superconductors grows. Management highlights applications including grid expansion, compact fusion, and powerful new medical devices among other uses. Fort Capital Partners acted as financial advisor for the Series A.