Velta announces separation of mining and innovative businesses.
Ukrainian company Velta LLC, part of the Velta US Inc holding, will continue to operate solely in the mining sector. The company owns Birzulivskе and Likarivskе deposits of ilmenite ores. Velta had built the first titanium mining and processing complex on the basis of the Birzulivske deposit from scratch, and has been successfully operating it for over 10 years. The company currently occupies 2% of the global titanium feedstock market.
Whereas TitanEra Inc holding (USA) has incorporated into its structure high-tech business facilities Velta RD Titan LLC and TitanEra LLC.
Velta RD Titan is a research laboratory, which developed a new method of titanium metal and alloys production back in 2020. The company received 2 domestic patents and priority at the USPTO. The innovative technology is green: it generates no harmful emissions or waste. Project investments amounted to $3 million.
TitanEra LLC, operating based on the proprietary Titanera process, began construction of the world’s first pilot plant for the production of titanium powder and final products. The purpose of the facility is to confirm the capabilities of the new technology and scale the project.
The CEO of both holdings is Andriy Brodskyy. Velta remains the supplier of titanium feedstock for TitanEra, which allows for full vertical integration within holdings.