Date: Sep 12, 2012 Author: Mass High Tech & BBJ staff Source: bizjournals (
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Boston Business Journal by Mass High Tech & BBJ staff
Date: Wednesday, September 12, 2012, 12:04pm EDT
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Metal Oxygen Separation Technologies aims to make equipment for producing magnesium to be used in auto manufacture.
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Metal Oxygen Separation Technologies aims to make equipment for producing magnesium to be used in auto manufacture.
Metal Oxygen Separation Technologies Inc. (MOxST), a startup working on cheap and environmentally-friendly ways of producing lightweight metals to be used in cars, has raised $2.5 million from 12 investors.
The Natick-based company reported in a federal filing that the sales of a combination of equity, debt, options and securities began in July of this year. The only related person listed on the filing - CEO Stephen Derezinski and CTO Adam Powell - is Craig Edelstein, a private equity investor in Miami who focuses on early-stage companies.
MOxST was co-founded in 2008 and developed a technology it calls MagGen1000 to make magnesium metal from magnesium oxide. The company says that a car can save up to two miles per gallon of fuel by replacing 630 pounds of steel and aluminum with 340 pounds of magnesium alloys, and Derezinski previously said his goal for the company is to manufacturer capital equipment to produce that metal.
A year ago, MOxST won a $6 million grant from the U.S. Department of Energy Vehicle Technologies Program after new fuel efficiency standards, adopted by the Transportation Department and the EPA last summer, cited magnesium as a key to making lighter vehicles. — Don Seiffert, Mass High Tech
Linkable Networks partners with MasterCard
Boston customer loyalty tech startup Linkable Networks Inc. said Wednesday it's partnered with MasterCard (NYSE: MA) to allow MasterCard customers to get discounts at checkout without a paper coupon.
Linkable Networks offers "card-linked offers" that let customers get discounts on purchases at some retailers, with a key differentiator being the ability to provide the offers on specific items.
The company said that if users see an offer they like online, they can click or text to link it to their MasterCard, and the savings are automatically credited to their card when they shop in the store.
Linkable Networks has raised $11.8 million in venture capital since its founding in 2009, from backers including Bain Capital Ventures, Kepha Partners, CommonAngels and Citi Ventures, the venture arm of Citigroup.
