Foundation Alloy announced a $22 million Series A financing round to scale production of its MetalsFIRST platform, a solid-state metallurgy technology designed to produce advanced alloys without traditional melt-based manufacturing processes.
The round was led by Voyager Ventures and included participation from Trust Ventures, Yamaha Motor Ventures, America’s Frontier Fund, Overlap Holdings, Material Impact, Engine Ventures, El Cap, and Kanematsu Corporation. In addition to investing in the company, Kanematsu signed a distribution agreement to bring Foundation Alloy’s materials to industrial customers across Japan and Southeast Asia.
The company said the funding will support the opening of a new 36,000-square-foot facility in Massachusetts, the establishment of an additional modular production cell with Re:Build Manufacturing in southern New Hampshire, and the expansion of its production, engineering, and commercial teams. Foundation Alloy expects to increase production capacity from pilot scale to tons per week by 2027.
Foundation Alloy’s MetalsFIRST platform integrates alloy design, mechanical alloying, shape forming, and sintering into a solid-state process that avoids melting metals. According to the company, the approach reduces production steps by 80% to 90% while enabling new alloy compositions and enhanced performance characteristics.
The company’s materials are currently being evaluated in industrial pilot programs across North America, Europe, and Japan. Its Molyclast family of molybdenum-based alloys is being used in hot forging, die casting, and high-temperature applications, while Foundation Alloy is also expanding into stainless steel, tool steel, and specialty steel products.
KEY QUOTES:
“Metals made through our platform are being used by customers today in commercial pilots with Japanese industrials, in production trials across North America and Europe, and in forging demonstrations with LIFT in Detroit. This Series A funds the factory, not the lab. Our new Massachusetts facility and modular production cell are set to grow capacity from pilot-scale today to tons per week by 2027—a 100x increase, built on a modular equipment platform that deploys and scales 10x faster than traditional metals manufacturing. We’re hiring across production, engineering, and commercial teams to help meet surging demand in defense, advanced manufacturing, and energy where legacy materials and supply chains are failing. Our team is uniquely positioned to solve these challenges right now.”
Jake Guglin, CEO of Foundation Alloy
“Foundation Alloy’s platform addresses the most persistent challenges our customers face—productivity, equipment utilization, and supply-chain reliability—through a fundamentally different production approach. Client companies across our network are already evaluating Foundation Alloy’s materials for high-demand applications, and we look forward to delivering these next-generation alloys to manufacturers across Japan and Asia as part of our solution-oriented approach to the metals business. We see the potential for hundreds of millions of dollars of demand for these materials across Japan and Southeast Asia in the coming years.”
Kenyu Okawara, General Manager of Kanematsu Corporation
“Aerospace, defense, energy, and precision manufacturing need alloys that are stronger, cheaper, and faster to produce than anything available today. Foundation Alloy delivers this leap forward with metals engineered at the atomic level through its MetalsFIRST platform. Voyager is proud to back this team as they redefine metals and manufacturing, all made in America.”
Sarah Sclarsic, Founder and Managing Partner at Voyager Ventures
“The Department of War Manufacturing Innovation Institutes’ core mission is to accelerate transformational technology into the U.S. industrial base and to support the successful scale up of those innovations. We are tremendously proud to see that vision realized with Foundation Alloy and this important Series A funding. Our testbed and pilot plant facility in Detroit played a pivotal role in testing and demonstrating Foundation Alloy’s novel technology, helping to lay the foundation for this next phase of growth—right here in the United States.”
Nigel Francis, CEO and Executive Director of LIFT
