Funding round
Elmet Technologies Growth
Reported as "Growth Equity"
Elmet Technologies, which works in refractory metal manufacturing in Lewiston, raised $450M in a Growth round announced on 14 Sep 2026, led by United States Department of War. 1 firm took part.
$450M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Elmet Technologies did not disclose a valuation in this round. It is Elmet Technologies' first venture round on record, 97 years after it was founded in 1929. No later venture round is on record for Elmet Technologies.
Elmet Technologies' funding rounds
This is the only venture round on record for Elmet Technologies.
- Growth this round 14 Sep 2026, led by United States Department of War $450M
Investors
Who put money in
United States Department of War led the round.
Lead investor
- United States Department of War new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Growth rounds in Scrap Metals within a year either side disclosed an amount; the median was $75M, and this round was 6.0 times the median. The closest in time, other companies' Growth rounds in Scrap Metals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Scrap Metals | 25 Sep 2026 | $75M | not disclosed | Bain Capital Ventures |
| Scrap Metals | 27 Aug 2026 | $75M | not disclosed | T. Rowe Price Associates, Inc. |
| Stegra Scrap Metals | 24 Jun 2026 | $1.59B | not disclosed | Wallenberg Investments |
| Scrap Metals | 16 Jun 2026 | $280M | not disclosed | Overmatch Ventures and The New Industrial Corporation |
| Scrap Metals | 21 May 2026 | $134M | not disclosed | Sev.en Global Investments |
| Scrap Metals | 24 Apr 2026 | $32M | not disclosed | not named |
| Scrap Metals | 20 Nov 2025 | $45M | not disclosed | T. Rowe Price Associates and VXI Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Elmet Technologies raise in its Growth round?
Elmet Technologies raised $450M in its Growth round, announced in Sep 2026.
Who led Elmet Technologies' Growth round?
United States Department of War led it.
What was Elmet Technologies' valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Scrap Metals?
7 Growth rounds in Scrap Metals within a year either side disclosed an amount; the median was $75M, and this round was 6.0 times the median.