Severstal Invests in Arcanum Alloys in US
Severstal is a leading Russian steel producer, a Metal-Expo regular exhibitor announced that it has been a leading investor in the last round of financing Arcanum Alloys Inc, an American company, engaged in the development and production of innovative materials based on steel. Severstal acted as a lead investor with investments of about USD 6 million. Among other investors, a major American venture capital firm, Khosla Ventures.
Arcanum Alloys Inc has developed a unique technology for the production of rolled products with a diffusion-modified surface layer. Thanks to this technology, the company can produce a wide range of products with improved properties. Their first product offers aesthetic and corrosion properties equivalent to stainless steel, but with excellent formability and lower cost and capital costs. Products with such qualities may be of interest to customers in the automotive industry, the construction industry and manufacturers of household appliances.
The total of more than 550 companies from 34 world countries will attend Metal-Expo’2019, while more than 30k steel industry professionals from all over the world are expected to visit the event.