Achieving precise process control in metal production, processing, and casting heavily relies on accurate composition sampling. Traditionally, this has been a manual and empirical process, involving the casting of solid samples from the molten metal. However, Iceland-based DTE has revolutionised this practice with its innovative and intelligent LP-LIBS platform.
Plans to expand its capabilities
Now, DTE, an innovator in decision support for the metals production and manufacturing industry, has successfully completed a $10 million Series A2 round to further accelerate its innovation and expand its reach. The round saw participation from a distinguished group of investors, including aluminum industry leader Novelis, venture capital firm Metaplanet (which backed Aerones and Lightyear), and the European Innovation Council (EIC) Fund, along with existing investors Chrysalix Venture Capital and Brunnur Ventures.
“We are delighted to secure this substantial funding round, which is a significant milestone for DTE, validating the transformative potential of our technology,” said Karl Matthiasson, CEO & Founder of DTE. “The additional capital secured in this funding round finances expansion of our growing sales pipeline and will accelerate our technology and product development capabilities as we continue to push the boundaries of manufacturing decision intelligence and predictive analytics.”
Derek Prichett, Senior Vice President, Corporate Development at Novelis said, “DTE’s solution, with its live elemental analysis capabilities, offers a promising avenue for optimizing production processes and enhancing product quality. In addition to using the technology to support Novelis’ own goals for carbon reduction, which include a 30% reduction by 2026 and net carbon neutrality by 2050 or sooner, we are also excited to aid DTE in their broader mission to help our industry transform towards ever cleaner, more sustainable production.”
“We are impressed by DTE’s unique technology and the potential of their actionable decision support platform to optimize production in the metals industry,” said Marcin Nowak from the EIB, leading the investment on behalf of the EIC Fund. “The EIC Fund is proud to support DTE to create value opportunities as well as streamline and improve efficiencies within the operations of one of Europe’s most energy-intensive and emissive industries.”
Digital transformation of the metals industry!
Founded by Karl Ágúst Mattíasson in 2013, DTE operates with the vision to transform the metals industry, contributing to the 1.5-degree challenge while driving its digital transformation towards Industry 4.0 with the next generation of elemental analysis technology and metals intelligence.
Its proprietary technology brings a game-changing contactless elemental analysis solution, providing rapid and high-quality results for process and quality control. By eliminating the need for slow and costly manual methods, the platform delivers reference-grade elemental analysis directly from high-temperature liquid metals in less than 60 seconds.
DTE’s AI-based cloud platform provides real-time actionable intelligence to maximise benefits along the value chain by breaking silos, providing information in context, monetising information, delivering predictive insights for forward-looking process control and business decisions, and driving change.
