Alchemy, a company specializing in advanced materials and nanotechnology, announced it recently secured $6 million in funding from a group of investors, including NameSilo Technologies, Pathfinder Asset Management, and Pembroke Management. This significant financial support will enable Alchemy to speed up the development and commercialization of its innovative technologies in the defense and automotive sectors. Additionally, it will help the company grow its manufacturing capabilities in Canada and foster international partnerships with allied nations.
One of the key focuses of Alchemy is its Defense Business Unit, particularly the Crypsis Class technology. This technology utilizes nanoparticles to create thermal camouflage, which is designed to minimize heat signatures and enhance concealment for military personnel and equipment in the field. Alchemy is currently in the process of co-developing this technology into textile applications through a new partnership with a major manufacturer of military garments. The company is not only advancing its discussions with the Canadian Department of National Defence but is also working to expand its international presence through partnerships with NATO and the Five Eyes intelligence alliance. Alchemy envisions integrating the Crypsis Class technology into various products, including textiles, paints, films, and coatings, which will enable a wide range of applications in both the defense and aerospace industries.
In addition to its achievements in defense technology, Alchemy is also making strides in its Automotive Business Unit. This unit is primarily centered around ExoShield ULTRA, which is a next-generation windshield protection film. Alchemy is focusing on increasing the availability of ExoShield ULTRA for a broader range of vehicle types and in international markets, while also exploring its application in the aerospace sector. The company is actively collaborating with partners to protect specific exposed windows on certain airplanes and helicopters using this innovative film.
To meet the rising demand for its products, Alchemy is enhancing its manufacturing capabilities by bringing new technology in-house at its facility in Kitchener. This move emphasizes Alchemy’s strong commitment to Canadian production and innovation, which is essential for sustaining its growth and meeting the needs of both the defense and automotive industries. By combining its advancements in technology and manufacturing, Alchemy is positioning itself as a leader in both sectors, ready to tackle the challenges of the future.
KEY QUOTES:
“Modern defence requires not only more resilient materials, but also smarter ways of protecting people and equipment. Crypsis Class represents a breakthrough in thermal camouflage, and with this investment, we can accelerate development and deliver at scale to Canada and its allies.”
“With automotive and defence both undergoing rapid transformation, we see enormous potential for Alchemy’s technologies across industries. This investment gives us the resources to scale faster, expand internationally, and grow our team to meet the opportunity ahead.”
Khanjan Desai, CEO and co-founder of Alchemy
