Heston Materials, a supplier of aviation components and maintenance materials, has secured initial funding of $20 million (€17.8 million) from Volofin Capital Management, a London-based specialist finance and alternative asset manager. The money will finance aviation asset purchases and the company's expansion, Heston Materials said on Monday. "This financing is an important stage for Heston Materials," said director Kęstutis Volungevičius. He said it gives the company more room to carry out strategic plans, widen its range of products and services, and respond more flexibly to changing market needs. Heston Materials serves airlines, maintenance, repair and overhaul (MRO) organisations, and other aviation players worldwide. It belongs to Heston Aviation Group, whose ultimate beneficiaries are two Lithuanian citizens.

Mitsubishi Chemical Group and Boston Materials have formed a strategic collaboration to develop thermal management solutions for high-performance computing and AI data centre sectors. The partnership includes an investment in Boston Materials from MCG's US-based corporate venture capital arm, Diamond Edge Ventures. Boston Materials manufactures advanced energy transfer materials, whilst MCG is a global provider of advanced materials. The collaboration will focus on advancing semiconductor packaging using liquid metal thermal materials. Financial details of the investment were not disclosed. The partnership aims to address growing thermal management challenges in the AI and data centre industries.