Chrysalix RoboValley Fund, managed by Canadian venture capital firm Chrysalix Venture Capital, has invested in Iceland’s Dynamic Technology Equipment. No financial terms were disclosed. DTE is the developer of a sensor and software analytics platform for in-line liquid metal trace analysis.
Vancouver, BC and Delft, Netherlands , Sept. 08, 2020 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a global venture capital fund with a long history commercializing step-change innovation for resource intensive industries, announces an investment in Dynamic Technology Equipment (DTE) Inc., developers of a next-generation sensor and software analytics platform for in-line liquid metal trace analysis. DTE addresses the high unmet need to complement and replace current slow, expensive and manual methods for process and quality control with real-time, in-line analysis of trace materials to drive the metals processing industry towards Industry 4.0.
“Chrysalix is making metals and mining innovation, with resource productivity and intelligent systems, a major theme of our new fund. Working with our strategic investors and high potential startups, we accelerate new step-change solutions into the mainstream market,” said Richard MacKellar, Managing Partner at Chrysalix Venture Capital. “DTE’s technology enables accurate real-time sampling of liquid metal in primary and secondary aluminum production. Compositional information in real-time results in increased production and quality, reduced costs, and energy savings for aluminum producers. This is in line with our investment thesis of using intelligent systems to improve the economics, efficiency and environmental sustainability of resource intensive industries, while creating significant value for customers.”
DTE was founded in 2013 by highly experienced aluminum industry professionals, with a vision to transform metals production and processing with next-generation sensors and analytics. Based in Iceland, DTE addresses the high unmet need to complement and replace current slow, expensive and manual methods for process and quality control with real-time, in-line analysis of trace materials. DTE’s flagship EA-2000 and EA-2500 instruments are first-in-industry fully automated elemental analyzers, generating real-time data, direct from liquid metal delivering immediate, reference quality elemental composition information to help metals processors transition to Industry 4.0.
Sveinn Gudmundsson, CEO of DTE commented, “We are delighted to welcome Chrysalix onboard as industry-focused investors who not only bring a wealth of both technical and early-stage business-building experience to the table, but do so with a highly collaborative and collegiate joint-team approach. We look forward to continuing to work closely together to further advance our world-leading analytics technologies for metal production and processing, and bringing these to market for customers worldwide.”
The Chrysalix RoboValley Fund invests in intelligent systems enabled by AI, IoT and sensor technologies to achieve significant improvements in productivity and critical business processes. Investors in the fund include Fortune 500 companies, leading corporates, financial institutions, family offices and universities, and a notable cluster of metals producers, such as South32, Severstal and Mitsubishi Corporation. For more information about Chrysalix, please visit www.chrysalix.com and for more information about DTE, please visit www.dtequipment.com.
About Chrysalix Venture Capital
Chrysalix is a technology focused venture capital firm that builds, mentors and connects high growth companies. Founded in Vancouver, Canada in 2001, and with offices in Delft, Netherlands, Chrysalix has built its reputation on bringing disruptive innovation to the world’s largest industries by focusing on where technology meets physical science. The firm’s investments include breakthrough technologies like smart mining, 3D printing of steel, fast charging electric vehicle infrastructure, emissions-free solar steam, battery intelligence, C02 capture, wastewater management, and fusion energy. Chrysalix has one of the strongest investment teams in the industry with deep energy, technology and entrepreneurial expertise, and is backed by more than 20 international blue chip industrial and financial investors. Chrysalix latest fund, the Chrysalix RoboValley Fund, is the firm’s second fund under management focused on industrial innovation. For more information visit: www.chrysalix.com or contact Allison Johnson at email@example.com.
About DT Equipment Inc.
DTE, based in Reykjavik, Iceland is focused on next-generation industrial metal production process control, towards Industry 4.0. The Company’s flagship DTE-EA product range provides first-in-industry direct sampling and compositional analysis of molten metal, addressing the high unmet need to complement and replace current slow, expensive and manual methods for process and quality control with real-time, in-line analysis of trace materials. Real-time process feedback offers substantial opportunities, including improved production efficiency, energy and process cost savings from faster, more frequent measurements and improved operator safety through limiting the need for human intervention. For more information, please visit www.dtequipment.com.