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Terves

Euclid, US · Founded 2013 · Nevada LLC

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Terves manufactures lightweight aluminum and magnesium alloys, including proprietary dissolvable metal formulations, from its facility in Euclid, Ohio. Its patented TervAlloy product family is used in dissolvable downhole tools for oil and gas applications.

Advanced ManufacturingEnergyNew Materials

Founders & leadership

Terves was founded in 2013 by Robert Slowey and Andrew Sherman.

RS
Robert SloweyClass A-1 Manager
ASAndrew Sherman
Andrew ShermanFounder/Chief Technical OfficerAndrew Sherman holds degrees in ceramic and chemical engineering from Ohio State University, with over 40 years of experience developing advanced materials and coatings across aerospace, oil and gas, and related industries. He co-founded multiple companies including Powdermet, Mesocoat, and Terves (established 2013), and holds more than 100 patents in ceramic composites, metal foams, magnesium alloys, and related materials technologies.
BD
Brian DoudCOOformer

Board

BW
Ben WeberClass A-2 Manager
DS
Daniel ShermanClass A-1 Manager

Reported raises · per SEC filings

Form D private placements

$5M disclosed across 1 round · 2017

▶$5MraisedJun 2017 · 1 investors · Manufacturing
Rule 506(b)
Officers, directors & promoters on the filing
  • Ben WeberDirector
  • Robert SloweyDirector
  • Andrew ShermanExecutive Officer, Director
  • Daniel ShermanDirector
  • Brian DoudExecutive Officer
Offering amount
$5M
Amount sold
$5M
Sales commissions
$250K
First sale
Jun 2017
Incorporated
Limited Liability Company, Nevada, 2013
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Non-dilutive funding · 19 SBIR/STTR awards

Federal grants — no equity taken
AgencyPhaseYearAmount
Department of DefenseDefense Logistics AgencyPhase II2022$1.4M
U.S. Air ForceAir ForcePhase I2022$49.6K
Department of EnergyPhase II2021$1.1M
U.S. Air ForceAir ForcePhase ISTTR2021$149.7K
Department of DefenseDefense Logistics AgencyPhase I2021$100K
Department of EnergyPhase I2020$205.7K
Department of EnergyPhase I2020$200K
U.S. Air ForceAir ForcePhase I2020$49.1K
U.S. ArmyArmyPhase II2019$1.1M
NASAPhase IISTTR2019$747.8K
U.S. ArmyArmyPhase I2018$154.6K
Missile Defense AgencyPhase ISTTR2018$100K
NASAPhase ISTTR2017$118.2K
Department of EnergyPhase II2016$995.8K
Department of EnergyPhase I2015$149.9K
NASAPhase ISTTR2015$125K
NASAPhase I2014$125K
NASAPhase I2014$122.3K
U.S. NavyNavyPhase I2014$80K

Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.

Frequently asked questions

What does Terves do?
Terves manufactures lightweight aluminum and magnesium alloys, including proprietary dissolvable metal formulations, from its facility in Euclid, Ohio. Its patented TervAlloy product family is used in dissolvable downhole tools for oil and gas applications.
Who founded Terves?
Terves was founded by Robert Slowey, Andrew Sherman in 2013.
How much funding has Terves raised?
Terves has disclosed $5M raised across 1 round.
Where is Terves headquartered?
Terves is headquartered in Euclid, US.