Texas-based MetOx makes high-temperature superconducting wire, or HTS, that reduces energy loss in transmission and could speed the integration of new energy sources into the grid. HTS is also a critical technology for potential grid-connected fusion energy.
MetOx secured $25 million for its Series B equity round to manufacture its HTS wire, which it calls Xeus.
“Xeus wire stands to be a force multiplier in clean energy generation and high-power transmission and distribution, enabling load growth and the deployment of power-dense data centers,” said Ian Samuels of New System Ventures, which invested in the round alongside family office Centaurus Capital.
Energy industry
MetOx is also backed by the US Department of Energy’s Advanced Research Projects Agency and Koch Disruptive Technologies, a subsidiary of Koch Industries, one of the largest privately held businesses in the US and a major player in the oil and gas industry.
MetOx’s newest investor, Centaurus Capital, is the family office of John Arnold, who started the energy commodity trading hedge fund, Centaurus Energy, and now sits on the board of Breakthrough Energy Ventures.
