Magnesium processing start-up Magnium Australia has landed $3.24 million to prove out its CSIRO-developed manufacturing technology.
Magnesium processing start-up Magnium Australia has landed $3.24 million to prove out its CSIRO-developed manufacturing technology, hoping to take a bite out of Australia’s looming $300 billion magnesium export opportunity.
The manufacturing process, which the company says can produce magnesium metal with less energy and lower labour requirements, has been in development by the CSIRO since 2003. In a comprehensive investor pack, would-be investors were pitched a world where Australia met 50 per cent of the world’s annual magnesium requirements for the next 250 years through an overhaul of its advanced manufacturing sector.
For the scientific reader, the process involves the carbothermal reduction of magnesium oxide followed by supersonic quenching of the gas products to produce a high purity magnesium powder.
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