TheNextPangea, Asturian company Created by the innovation department of ArcelorMittal a year ago in collaboration with the University of Nebrija in Madrid First major contract to implement technology developed by steel company in other economic sectors. This is a prize of 1.44 million euros by the Ministry of Defense for improving the performance of Air Force aircraft.
new company will use innovative materials such as graphene inkincreasingly common in new technologies and covering the fuselage of military aircraft and allowing the inclusion of motion sensors. Likewise, the company will resort to three-dimensional (3D) printing to manufacture parts for ships, a method it developed months ago with steel chassis for cars. But his contribution to the Air Force will not be just physical: The Asturian company will also provide artificial intelligence.
TheNextPangea was born in June 2021 to provide a commercial outlet for research conducted by scientists from the University of Nebrija and ArcelorMittal’s innovation and development (R&D) centers in Asturias. ArcelorMittal owns 24% of the company with a capital of 1 million Euros, the University of Nebrija 24%, the German investor Michael Hoeck 24%, the Asturian engineering company Ingénica 12%, and the remaining 16% is distributed. among the company’s own researchers as an incentive.
Technology acquired in 2021 is a 1.5 million Euro injection from the Regional Promotion Company (SRP) is a public-private organization that provides financial support to companies in Asturias. At the time, TheNextPangea predicted an investment of 2.86 million euros and the creation of 25 jobs within two years. Company sources stated that they will publicly introduce their activities at the beginning of 2023.
SRP’s latest annual report for 2021 presents TheNextPangea as “an ambitious project run by ArcelorMittal through its own company, Arcelor Mittal Innovación.” In other words, TheNextPangea can implement its technology as long as its customer does not develop a steel business because it means sharing Arcelor’s innovations with competitors.