Superconducting Wire Maker Closes on $25 Million

MetOx International, a developer and manufacturer of high-temperature superconducting (HTS) wire, has raised $25 million in a Series B extension round.

The new investment is led by Centaurus Capital, an energy-focused family office, and New System Ventures (NSV), a venture firm focused on climate and energy transition. MetOx will use the new funding to expand its production capacity and further develop HTS technology.

MetOx’s patented manufacturing process allows for producing HTS wire at scale. The company’s Xeus HTS wire—just 1/10th mm thick and 4 mm wide—is engineered to transmit electricity with virtually no resistance or heat loss. The company’s HTS wire replaces conventional copper wire in the grid and, with its high power-carrying capacity, can also be used in various high-field magnet applications, including advanced devices in medical diagnostics and nuclear fusion.

MetOx’s HTS wire can also be used in aerospace and defense applications where weight and power density are critical factors. MetOx is headquartered in Houston and is led by CEO Bud Vos.

“This funding marks a pivotal step in our mission to revolutionize the energy and technology sectors with our advanced power delivery technology,” said Mr. Vos. “HTS is critical to enhancing the efficiency of our electric grid and enabling technological developments that, in many cases, would not be viable or even possible without superconductor technology. Support from investors such as Centaurus and NSV provides the financial resources and strategic support required and validates the broad reach of our technology across energy, data center, medical, and defense industries.”

“MetOx has developed a robust and highly scalable operation, and we are thrilled to partner with the Company as it enters this pivotal growth stage,” said John Arnold, the founder of Centaurus. “The market for HTS is expanding at an unprecedented pace, with demand for HTS far outweighing supply. MetOx is poised to be the leading United States HTS producer, closing the supply gap and bringing dramatic capacity to high-power innovations and applications. Their progress and potential are unmatched in the field, and we are proud to support their growth.”

The global market for high-temperature superconductors is expected to grow significantly over the next decade. According to a report by ResearchAndMarkets, the HTS market is projected to reach $1.5 billion by 2030, driven by increased demand for efficient power transmission and the growing need for high-performance materials in medical and scientific applications. 

In addition, the use of HTS technology in fusion energy, wind turbines, and data centers is also anticipated to expand as industries seek to optimize energy efficiency and reduce carbon emissions.

 Centaurus Capital, the Houston-based family office of John Arnold, targets investments in the energy and infrastructure sectors. The firm specifically supports companies that contribute to a sustainable energy future and looks for opportunities for businesses to innovate within traditional energy systems or develop new technologies to advance the energy transition.

“MetOx’s HTS technology aligns with our systems-level research and offers a unique opportunity to accelerate the energy transition dramatically,” said Ian Samuels, the founder and managing partner at NSV. “MetOx’s 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. NSV is excited to support MetOx as it scales domestic manufacturing capacity.”

New System Ventures, headquartered in Menlo Park, California, invests in early and growth-stage companies developing breakthrough technologies to accelerate decarbonization and drive innovation across the mobility and energy sectors. Areas of specific interest include clean energy generation, high-power transmission and distribution, and sustainable industrial processes.