Critical Materials Group (CMG) has raised $10.3 million in a seed round led by Overmatch Ventures to bring online in 2027 the first unit of its planned network of distributed production systems, the company said on Wednesday. The financing supports CMG’s effort to commercialize a modular, automated production platform for energetics used in explosives.
CMG’s current production and timeline
Kevin Capozzoli, co-founder and CEO, said CMG is currently producing the plastic explosive Composition-4, commonly known as C-4, at a facility in Texas for undisclosed customers. The company plans to have the first of its distributed production systems operational in 2027, according to its statement.
