An upcycler currently based in Texas, but announced earlier this week it will move to Indiana, is expecting great things in the Hoosier state, the company's CEO said in a recent news release.
"This new facility will be the place we take our technology to the next level," Sortera Alloys President and CEO Nalin Kumar said in a news release issued Tuesday, Nov. 10, by the Indiana Economic Development Corporation. "We believe we can make a global impact, and we're happy to take this important step in Fort Wayne."
Indiana is happy with the an early-stage, high-tech metal recycling company's plans to move its manufacturing operations from Texas to Fort Wayne facility, bringing with it 100 new jobs, Indiana Commerce Secretary Jim Schellinger said in the same news release.
"Indiana continues to lead the way in advanced manufacturing as companies like Sortera choose to locate and innovate in our state," Schellinger said in the news release. "With our skilled and robust manufacturing workforce that employs one in five Hoosiers, Indiana is a great place for cutting-edge innovators to establish and grow."
The announcement came about a monthy after the Canadian global venture capital fund Chrysalix Venture Capital issued its own news release, saying it had invested in Sortera Alloys. In that announcement, Chrysalix Venture referred to Sortera Alloys as "developers of an intelligent sorting system for the upcycling of nonferrous scrap metal, including aluminum, copper, zinc and brass."
Sortera Alloys, currently based in Fort Worth, uses "cutting-edge artificial intelligence" in its sorting and recycling of non-ferrous scrap metal from vehicles, The Indiana news release said.
Sortera Alloys plans to invest up to $4.2 million to purchase and equip a new 40,000-square-foot manufacturing operation at 909 N. Coliseum Blvd in Fort Wayne, according to the Indiana news release. Sortera Alloys also plans to work with local metal processing companies "to deploy a fully integrated demonstration system" able to produce 100 million pounds of recycled materials a year, the Indiana news release said.
The new facility should be up and running by March of next year.
"We're encouraged to see that companies continue to look to Fort Wayne to invest and grow," Fort Wayne Mayor Tom Henry said in the Indiana news release. "We welcome Sortera Alloys and look forward to their success. This significant financial investment and new jobs indicate our community is heading in the right direction as a leader in unique economic development opportunities."