Additive manufacturing startup raises $11 million Series B

Heat exchange manufacturing startup Conflux Technology has raised $11 million in a Series B.

The round was led by Breakthrough Victoria, which chipped in $5 million, with participation from AM Ventures and Acorn Capital.

The regional Victorian, based in Waurn Ponds, has developed next generation heat exchangers using addictive manufacturing (AM). They transfer thermal energy from one fluid to another, either to heat or cool them.

As innovations in aerospace, advanced air mobility, electric vehicles and space advanced, increasing the focus on sustainability, effective thermal management via heat exchangers has become crucial.

The heat exchanger market is worth around $6 billion globally.

Founder and CEO Michael Fuller said the funding speed up the development of Conflux’s manufacturing solution for producing AM heat exchangers, as well as hiring and support customer demand across the US, Europe and Asia.

“At Conflux Technology we pride ourselves on providing efficiency through heat transfer performance and weight-reduction at the heart of the world’s devices,” he said.

“With this additional funding and support, we will continue to advance our products and expand to support our customers across the globe.”

His goal is to create heat exchanger designs and manufacturing process to a level where customers can produce them locally.

Breakthrough Victoria CEO Grant Dooley said the manufacturing startup has built a strong reputation as a category leader in motorsports, high-powered industrial machines, hydrogen, e-mobility, defence and more.

“This investment is a great testament of the innovations coming out of Australia, and we’re proud to be playing a part in the creation of sustainable jobs in our region and supporting a local company that has solidified its position on the world stage,” he said.

Fuller said Conflux has partnered with Odys Aviation to drive development of the next generation of regional VTOL aircraft, with the potential to reduce fuel consumption by more than 40%.

“Next-gen aviation is a key industry for us, and we’re continuing to demonstrate our commitment to helping innovators in this space,” he said.

“We’re proud to be supporting customers like Odys Aviation by providing them with the tools they need to drive advancements in sustainable aviation and power their aircrafts efficiently.”

Odys cofounder and CEO James Dorris said the system will integrate into their 21-ft wingspan ‘Laila’ aircraft, a plane designed in multiple configurations for cargo.

“Conflux’s additive manufacturing and metal 3D printing technology erase traditional design barriers, allowing us to bring geometrically complex and performance-optimised recuperator designs to life—ultimately resulting in longer-range and higher-payload aircraft,” he said.

“We’re excited to be working with Conflux’s team to redefine the capabilities of VTOL UAS systems.”