Milvus Advanced raises Seed round to scale industrial-scale substitution of critical elements with next-generation nanoalloy technologies

The clean energy transition has a hidden cost: it’s powered by materials that are anything but clean. The rapid growth of technologies like hydrogen and electric vehicles is driving unprecedented demand for scarce, high-cost metals — resources that are limited in supply, often tied to fragile supply chains, and in some cases associated with severe environmental and human rights challenges.

According to the International Energy Agency (IEA), demand for rare earth elements is expected to nearly double by 2050 under net zero scenarios, underscoring continued strong growth well beyond 2030. At the same time, over 70% of global rare earth refining capacity and 85 to 90% of processing capacity remains concentrated in China, highlighting the fragility of current supply chains. Meanwhile, analysts warn that rapid growth in hydrogen technologies could deplete global reserves of platinum and iridium within decades, threatening to constrain one of the most promising pathways to decarbonization.

Milvus Advanced is tackling this challenge at the source. The company has developed a breakthrough materials platform that converts abundant, low-cost metallic salts, such as those derived from copper or nickel, into high-performance alloys that can replace scarce and expensive metals in critical applications.

By rethinking how advanced materials are created, Milvus is expanding what’s possible in material performance while reducing dependency on critical metals. This innovation opens new pathways for more resilient and sustainable supply chains across clean energy, advanced manufacturing, and next-generation electronics.

We are proud to partner with the Milvus team as they build the materials foundation for a truly scalable clean energy future.