GNW-Adhoc: DTE will close an investment round totaling USD 16 billion in 2023

^* Series A2 through additional $6 million from Eyrir Vöxtur and EIC Fund

increased

*Funding extension follows key industry partnerships in

Year 2023

REYKJAVIK, Iceland, Dec. 23, 2023 (GLOBE NEWSWIRE) — DTE (https://www.dte.ai/),

a leading innovator in process and quality control for the

Metal production and processing industry, has its current

Investment round with the participation of growth investors Eyrir Vöxtur and

successfully expanded to the European Innovation Council (EIC) Fund.

This latest closing completes the one initiated earlier this year

Series A2 funding round in which the Icelandic deep-tech innovator

a $10 million initial deal from Novelis, a leading

Companies in the aluminum industry, the VC firm Metaplanet and the EIC Fund as well

from previous investors Chrysalix Venture Capital and Brunnur Ventures.

The capital injection is based on partnerships with industry leaders such as Novelis

follows, will drive DTE’s expansion in production and delivery, that

Strengthen global sales network and focus on a variety of manufacturers

expand, use castings, such as: B. the automotive and construction industries, where

Quality is crucial.

“We are very pleased that we are in a difficult year this year

financing environment a significant Series A2 round of USD 16 million

“We were able to complete this successfully,” explained Karl Matthiasson, CEO and

Co-founder of DTE.?This milestone impressively underlines the

Importance of our innovative technology for optimization and

Rationalization of processes in the metal industry.”

DTE’s groundbreaking real-time elemental analysis technique, recently reported in

was reported in a CBS News documentary (https://www.dte.ai/news-1/dte-

featured-in-documentary-series-innovation-and-disruption-leaders-on-cbs-news),

complements and replaces current slow, expensive and manual methods

Process and quality control. The company’s own LP-LIBS(TM)

Sensor technology is uniquely capable of elemental analysis in

To deliver reference quality directly from high-temperature melts. information

about the melt composition of all critical process points – from

Reduction cells and transport crucibles to ovens and troughs – are included in the

DTE’s cloud analysis platform, which converts these signals into high-quality,

transforms predictive insights into decision making. This

Groundbreaking feature enables improved process control and

Decision support so that manufacturers and metal producers about

have unprecedented real-time information.

Kristinn Pálmason, Managing Director of Eyrir Vöxtur, commented how

follows:?We are very excited about our investment in DTE. The

The company’s groundbreaking technology is in perfect harmony with

our philosophy of sustainability. We see in DTE’s innovative approach,

which not only increases operational efficiency, but also the

Sustainability in an important industry promotes great potential.”

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/60785977-5913-4caa-a929-

0442a5aecb64

https://www.globenewswire.com/NewsRoom/AttachmentNg/139d3710-

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