Manz invests in superconductor manufacturer
Manz AG is acquiring a stake in MetOx Technologies Inc. and thus tapping into superconductor technology as an important future market for energy supply.
Texas, USA based MetOx Technologies, is a specialist in the manufacture of superconductors. The company has developed a manufacturing process for the cost-effective production of HTS (high-temperature superconductor) tapes.
The German company is betting on superconductors to play an important role in meeting future demand for electricity in metropolitan areas, where the conventional supply network will reach performance limits. Electromobility in particular will face challenges in metropolitan regions in this regard, which Manz believes can be met with the new technology, according to a press release.
With this investment, Manz intends to significantly accelerate the industrialisation and mass production of superconductors. Th Reutlingen based company will contribute its expertise in vacuum coating technology acquired in the solar sector as well as competencies from roll-to-roll, laser and automation technology.
Addressable markets for MetOx’s technology are said to include replacement of copper-based cables in metropolitan power supply, magnets for nuclear fusion power generation, and medical technology.
"We are convinced that MetOx's technology will play an important role in the global energy transition, as well as in the expansion of the charging infrastructure in the course of the growth of electric mobility. Therefore, we are looking forward to contributing our know-how, for example in vacuum coating technology, and to developing and building industrial-scale production facilities together with MetOx," says Martin Drasch, CEO of Manz AG, in the press release.