Milvus Advanced

Milvus Advanced is an Oxford-based deeptech materials producer that designs and manufactures nanoalloys from cheap, earth-abundant metals intended to replicate the functional properties of scarce elements such as platinum-group metals and indium. The company positions material scarcity — concentrated supply, price volatility and geopolitical exposure — as a structural constraint on scaling energy, electronics and advanced computing technologies, and offers substitute materials engineered to drop into existing industrial systems without redesign.

Its current application areas are hydrogen electrolysis, where Milvus Platinum and Milvus Iridium are nanoalloy catalyst alternatives designed to coat membranes in AEM systems and are described as being commercialised; optoelectronics and displays, where the company is developing nanoalloy substitutes for transparent conductive materials used in display panels, photovoltaic cells and touch interfaces; and electronics, soldering and industrial coatings. Company materials state they have been independently validated for performance and durability, and that its nanoalloys and membranes have been tested in collaboration with global electrolyser OEMs and chemical manufacturers.

The legal entity, MILVUS ADVANCED LIMITED (company number 13105121), is registered in England and Wales, was incorporated on 30 December 2020 under the name OxNano Limited and renamed Milvus Advanced on 11 November 2021. Its registered SIC codes cover engineering-related scientific and technical consulting and other professional, scientific and technical activities.

Founding story

The company was founded by Assia Kasdi, a former materials science researcher at Oxford University and consultant for the European Space Agency, who serves as CEO. It was founded in Oxford in 2020 and incorporated on 30 December 2020 as OxNano Limited before adopting the Milvus Advanced name in November 2021.

Business model

Milvus operates a business-to-business model, supplying nanoalloy materials and membranes to industrial sectors including clean energy and transport, chemical manufacturing and electronics, where the company frames performance, cost, sustainability and scalability as the intersecting buying criteria.

Traction

Milvus Platinum and Milvus Iridium catalyst alternatives are described as currently being commercialised, and the company's first-of-a-kind nanoalloys and membranes have been tested in partnership with global electrolyser OEMs and chemical manufacturers. Its materials have been independently validated for performance and durability according to the company.

Latest developments

On 20 October 2025 Milvus Advanced announced the close of a $6.9 million seed round led by Hoxton Ventures, with participation from LQD Ventures, Übermorgen, Tuesday Capital, Mark Leslie Enterprises, van Den Bosch Dynasty Fund, Bluebirds, Md One, EQT Foundation and returning investor Lowercarbon Capital. Proceeds are earmarked for scaling commercial production, deepening R&D into new material systems, expanding the team, and establishing manufacturing and strategic partnerships in the United States. The company is also recruiting in electrochemistry, process engineering, lab technology, optoelectronics and materials science.