SUN METALON Inc., a pioneer in metal industry decarbonization, today announced the successful closure of a $21 million Series A funding round. The investment round was supported by JIC Venture Growth Investments, HITE Hedge Asset Management, and Sumitomo Corporation Global Metals, with participation from existing investors including The University of Tokyo Edge Capital Partners (UTEC), Globis Capital Partners, D4V, i-nest capital, Scrum Ventures, and Berkeley SkyDeck.
With the completion of the Series A round, SUN METALON’s total capital raised has reached $30.7 million.This total includes a $3.4 million loan facility from Sumitomo Mitsui Banking Corporation, which is part of the Series A round.
Founded in 2021, SUN METALON is a deep tech startup with operations in the United States and Japan. The company’s mission is to revolutionize the metal industry by providing innovative solutions for sustainable manufacturing and recycling.
“The metal industry is at a critical juncture, facing dual challenges of decarbonization and the need for a circular supply chain,” said Kazuhiko Nishioka, CEO of SUN METALON. “Our proprietary heating technology addresses both issues by significantly reducing CO2 emissions and enabling efficient metal recycling, all while keeping costs low.”
“The future of mobility requires smart utilization of our resources, and multiple companies in the automotive industry already appreciate SUN METALON’s advanced solutions for making mobility and industrial manufacturing better and more sustainable. Such aligned innovation fits well with our strategy of Profiting from the Energy Transition. We’re excited to see the future unfold for the company and its partners and customers,” said David A. Levine, Portfolio Manager of HITE Hedge.
SUN METALON’s unique metal heating technology offers several key advantages:
1. Cost-Effectiveness: By revitalizing metal waste into reusable resources, the technology improves overall supply chain cost efficiency. Reduces both energy consumption and initial installation costs compared to conventional technologies.
2. Low CO2 Emissions: The heating process does not require fossil fuels, potentially achieving zero CO2 emissions when using clean energy sources.
3. Space Efficiency: The technology boasts a space efficiency rate significantly higher than conventional methods, with modular equipment that can be easily integrated into existing production lines.
The company has already established partnerships with leading automotive, construction machinery, heavy industry, and steel manufacturing companies, contributing to industrial decarbonization efforts across sectors.
In spring 2024, SUN METALON expanded its U.S. plant, which now serves as a hub for collaboration with American partners and as a center for metal manufacturing and recycling operations. The company has also made significant progress in intellectual property protection, with core patents granted in both Japan and the United States.
The global metal recycling market is projected to reach $52 trillion, driven by increasing environmental awareness and expanding demand. SUN METALON’s technology can reduce energy consumption by 85% compared to existing methods when heating and purifying metal chips and scraps.
“This funding will accelerate our efforts to implement our heating process with client companies and expand our own metal manufacturing capabilities using local metal resources,” Nishioka added. “We’re committed to driving the transition to a low-carbon, circular economy in the metal industry.”
For more information about SUN METALON and its innovative solutions for the metal industry, please visit https://sunmetalon.com.
About SUN METALON Inc.
SUN METALON is a deep-tech startup promoting decarbonization in the metal industry. Through its proprietary metal heating technology that achieves low cost, low CO2 emissions, and portability, the company aims to realize a more efficient circular supply chain in metal manufacturing and recycling.
