UK - Hotbed, Quester and Bank of Scotland invest in metal-coating company
Hotbed, Quester and Bank of Scotland Corporate's Growth Equity team have led a ТЃ10m funding round for Keronite. The three investors contributed ТЃ2.7m, ТЃ1.3m and ТЃ2m respectively.
Keronite is a Cambridge-based company which has developed an innovative metal-coating process that hardens the surface of aluminium and magnesium alloys, making them attractive alternatives to steel, plastics or ceramics in the automotive and other industries. Vehicle manufacturers are increasingly looking to use aluminium and magnesium in car parts because, unlike steel, they are lightweight and easily recyclable. However, without treatment these metals are too easily worn or corroded for use in vehicles. Keronite is cost-effective and more eco-friendly than conventional coating methods such as hard anodising and chromating.
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