Gamma Alloys was notified last month that Boeing HorizonX Ventures, the venture investment arm of Boeing Co., would make an investment in the company and its composite material that Chief Executive Mark Sommer believes could one day replace regular structural aluminum in aircraft.
Sommer would not disclose the amount his Valencia company received from the Chicago-based aerospace and defense giant, but he said that investments of this sort range from the single digit millions to low double-digit millions.
Gamma is developing a new composite material that consists of aluminum mixed with ceramic nanoparticles to create a stronger and lighter metal for aerospace and automotive parts. The company’s plans include machining parts and selling the raw aluminum to companies to make their own parts.
Read the full story in the Dec. 11 issue of the San Fernando Valley Business Journal.