Investment in Alvant
Vitruvius Ventures is pleased to announce its participation in the recent fund-raise of Alvant Group plc.
Alvant is involved in the development and manufacture of advanced materials.
The unique selling point of Alvant’s Aluminium Matrix Composite (AMC) materials is that they have the stiffness and strength of steel for half the weight. AMCs thus displace titanium, Inconel, CFRP and Steel all with performance and weight benefits. The sales pipeline includes projects to displace titanium products in the aerospace industry in particular. Short summary comparison below:
Not surprisingly, given the focus on aerospace applications, Alvant was hit pretty hard by Covid-19. Some of the company’s partners were unable to complete their testing of Alvant’s products (such as longer-life landing gear components) when their facilities were closed for Lockdown. While steps were taken to cut costs by furloughing staff, in a research-driven business this effectively means a slowing of any product development. Nevertheless, the company was able to progress a partnership to develop & test a rotor sleeve for a radial flux motor intended for use in a range of automotive and industrial applications. Alvant’s AlXal composite material has significant potential to reduce weight, increase efficiency & performance.
As a result of lessons learned during the Pandemic, Alvant is also modifying its business model to focus more on the ‘upstream’ areas of R&D, whilst developing partnerships to handle the manufacture of both early MVPs and later Mass Production products.
We were pleased that we were able to persuade the company that a more aggressively-priced round was necessary to get investors to support the capital raise during a very difficult period. With a strong portfolio of intellectual property, we believe Alvant has every chance of succeeding now that it has the runway to see some of its designs through to production.