The Velta group of companies, with assets in titanium ore mining in the Kirovohrad Oblast, has signed an agreement with the American private New York boutique consulting firm EAS Advisors to attract funding for a titanium plant in the USA.
This is stated in the company's press release.
"At each step of our work in America, we emphasise that the Ukrainian technology Velta Ti Process, and Ukraine in general, is a reliable partner for the USA in the geopoliticised titanium market. Before the war, the goal of our company was the production of a high-tech end product, but now I see our goal as quickly providing titanium to our allies, and as a result, Ukraine. After the war, we will build similar capacities in Ukraine to restore the country and develop our own military sector," said Andriy Brodskyi, CEO of Velta, as quoted by the press service.
The proposed titanium production plant will operate based on Velta Ti Process, a proprietary patented revolutionary technology for producing metallic titanium powder with a low carbon footprint.
The project plan consists of three stages. The first stage envisages the construction of a plant with a capacity of a thousand tonnes of titanium powder for the rapidly growing additive technologies market. The second stage is expected to increase to 5,000 tonnes of titanium powder, and up to 10,000 tonnes of titanium powder in the third stage.
"We see that the demand for titanium is growing, we also understand the need to ensure reliable supplies to the USA," commented Edward Sugar, Director of EAS Advisors LLC, on signing the cooperation agreement with the Ukrainian company, referring to experience in financing companies primarily in the natural resources and raw materials sectors.
The press release specifies that EAS Advisors participated in transactions amounting to over $6.5 billion since its foundation in 2008. One of the recent successful investments facilitated by EAS Advisors was securing an urgent loan of $80 million for nickel-zinc battery manufacturer ZincFive, Inc. from a major infrastructure fund in New York to support ZincFive's plans for a global commercial presence in existing and new markets.
Background. Velta Holding US, Inc. owns the Ukrainian company Velta LLC, which is a producer of titanium raw materials and has built a titanium mining complex in Ukraine.
Velta LLC was registered in April 2000. Its main activity is the extraction and production of ilmenite concentrate. Velta Holding owns 100% of Velta LLC. The ultimate beneficiaries are three individuals: Andriy Brodskyi (60%), Vadym Moskalenko (20%), and Vitaliy Malakhov (20%).