EverMetal unveiled the launch of EverMetal Holdings LP, one of the world’s first dedicated critical metals recycling platforms to strengthen U.S. domestic access to the strategic metals supply chain. It has completed its first acquisition of CAI Custom Alloys LLC, a US-based processor of high-performance superalloys, headquartered in Belvidere, Illinois.
The launch of a platform is designed to consolidate as well as expand recycling capacity for a suite of strategic metals such as nickel, cobalt, tungsten, tantalum, rhenium, hafnium, titanium, niobium, etc., that are essential for aerospace, defense, energy, and high-tech industries.
Started with the majority backing of GEF Capital Partners, a Washington, D.C.-based private equity firm focused on pollution mitigation, EverMetal focuses on creating an alternative to purchasing mined minerals by enabling an integrated recycling supply chain in the U.S.
The superalloy market has critical metals used in aerospace, power generation, renewable energy, and technology and electronics industries. Mining of these superalloys is saturated in a few specific geographies, the majority in Africa and Asia.
Through this strategic backing, CAI will expand its investment in capacity growth, new processing technologies, and geographic expansion, as well as relationships with key defense and aerospace customers.
Executive Statement
According to the EverMetal CEO Hugo Schumann, CAI’s products play a quiet but vital role in U.S. national security. From jet engines to turbine blades, these recycled metals power mission-critical technologies. The acquisition of CAI reflects their mission to secure and scale domestic recycling of these materials and reduce dependence on expensive, foreign-controlled sources of strategic materials.