Osborne Clarke advises AI start-up Smart Steel Technologies on the participation by Heraeus

Osborne Clarke has advised Berlin-based AI start-up Smart Steel Technologies (SST) on the participation by technology group Heraeus. As a result of the transaction, Heraeus, which is primarily known as a precious metals specialist, will become the largest shareholder of Smart Steel Technologies with a stake of around 47 percent. 

Smart Steel Technologies develops process control systems based on artificial intelligence (AI) for steel and non-ferrous metal production. The aim is to reduce CO2 emissions, increase energy efficiency and ensure fewer quality deviations through optimised processes. About four years after the company was founded, SST has more than 50 employees, many of them AI experts, but also steel specialists. The company's customers include renowned groups such as ArcelorMittal and Vallourec.

Heraeus, with its subsidiary Electro-Nite, is the world market leader in measuring systems in molten metals and is thus represented in almost every steelwork. According to the company, this is how it became aware of Smart Steel Technologies. Together, they now want to expand the product range, expand into Asia and grow more strongly in Europe and North and South America, where the start-up is already active. “We were looking for a partner who is financially strong but also knows the market and how to internationalise,” explains SST founder Falk-Florian Henrich. 

The team that advised Smart Steel Technologies consisted of Robin Eyben, Dana Alpar, Alexandra Nautsch (all Corporate / M&A), Dr Jens Wrede (Tax Law), Dr Lina Böcker (IT), Dr Johannes Graf Ballestrem and Dr Stephan Reisner (both Patent Law / IP).