Foundation Alloy, a Massachusetts startup that forms metal parts without melting them, closed a $22M Series A from eight investors. One of them calls itself America's Frontier Fund.
Primary steelmaking is roughly 7% of global CO₂. Skipping the melt is real work. Tim Rupert and Chris Schuh did that work — Schuh ran the same trick at Xtalic a decade ago. America's Frontier Fund wrote, generously, one-eighth of the round. That's $2.75M for one-hundred-percent of the heroism, or $0.275M per percentage point of claimed frontier, I did the arithmetic on a calculator I have owned since I was nine.
They will not operate the mill. They did not invent the process. They named themselves after a landmass.
Meanwhile Jake Guglin's LinkedIn banner is a fighter jet. The puck does not care.
Based on the original article "This startup's super metals could soon be in military drones, luxury watches, and chef's knives".
