Turkish pipe maker Erciyas Çelik Boru Sanayi A.Ş. has announced that its subsidiary Erciyas Tech Ventures Teknoloji Yatırımları A.Ş., in which it has 50 percent equity, and Çimtaş İleri Teknoloji Çözümleri A.Ş., a subsidiary of ENKA İnşaat ve San. A.Ş., have decided to establish a 50:50 joint venture (JV) called Blacksteel Teknoloji Yatırımları A.Ş. to develop advanced technologies.
Accordingly, Blacksteel Teknoloji will undertake the development of global innovation projects and new technologies using the operational and producing power, R&D and P&D experiences, the know-how in technological investments, and the advanced engineering capabilities of the Erciyas and Çimtaş groups.
Moreover, the company will make long-term strategic investments in domestic or foreign technology companies. It will also carry out successful initiatives in different technological fields, especially in the Hyperloop sector, by combining the know-how and resources of both groups. Additionally, the new JV will be responsible for making R&D work focusing on jointly developing and producing Hyperloop components, primarily Hyperloop tubes, and on advancing the Hyperloop concept and technology.