Steel powder specialist NanoSteel has reportedly spun out its additive manufacturing (AM) business unit into a new corporation.

Formetrix has received investment in order to commercialize its steel alloys for 3D printing processes. Over the last four years, the team has developed alloys with material properties that current 3D printable or metal injection molded alloys do not offer, Nanosteel says. Formetrix’s metal powder range has higher hardness, higher ductility and higher wear resistance compared to existing alternatives. The company reports that initial industry focus is on materials for hot and cold forming tool and dies in molding, casting and stamping within the automotive, oil and gas and heavy machinery markets.

‘Formetrix was formed to provide new, high performance steel alloys to accelerate the adoption of additive manufacturing within the tool and die and aluminum die cast industries,’ said David Paratore, president and CEO of NanoSteel.  ‘Growth in these sectors has been limited in part to the lack of suitable materials and we believe we have developed excellent new options.’

This story is reprinted from material from Nanosteelwith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.