Montréal-based rare-earth mineral company Scandium Canada has acquired Québec City-based ski-maker Ferreol Technologies to help it turn those rare metals into aircraft parts.
The news: Ferreol’s acquisition, which was announced earlier this week, cost $6.6 million in cash, stock, and assumed liabilities. Ferreol, now rebranded to Scalium+, got its start making skis out of an aluminum-scandium (Al-Sc) alloy. Now it’s being folded into Scandium Canada, the only source of its namesake metal in North America.
The company looks to use Ferreol’s “proven” commercial team and production line to take the metal to new heights, literally. Ferreol’s new website projects the Al-Sc alloy being used to make lighter, more fuel-efficient air and spacecraft within the next decade.
From the source: Some of Ferreol’s alloys are 45 percent stronger than 7075 aerospace aluminum, according to Scandium Canada. Adding scandium in small amounts to aluminum creates lightweight, strong, and corrosion-resistant alloys that are also great electrical and thermal conductors, the company says.
The company hopes its lighter, scandium-enhanced aluminum alloy can replace the commonplace 7075 aerospace alternative, which has been used in everything from rifles to space shuttles.
RELATED: Five startups chosen for first round of Québec Tech’s export mission
Following the thread: Scandium is named after the 21st element on the periodic table, which also happens to be the metal it’s mining at the Crater Lake site in northern Québec. The company holds the entirety of rights to 96 mining claims across 47 square kilometres of land in the area, which Scandium says is recognized as one of the most promising sources of scandium globally.
By acquiring Ferreol and creating a commercialization arm, Scandium is expediting the creation of its own end-to-end supply chain, allowing it to mine the scandium and create alloys all within the province.
Final thought: In addition to its aerospace ambitions, Scalium+ says its material can be used in additive manufacturing (also known as 3D printing), as well as in electronic components to make electric vehicles lighter and more efficient.
Feature image courtesy Scalium+.