Galaxy Magnesium – the world’s premiere mine-to-customer source of superior quality and cost-effective magnesium – has partnered with Panoz Engineering to form a new subsidiary company, Galaxy Motion. With access to twenty percent of the world’s supply of magnesium, as well as the mining and refining resources necessary to produce a wide variety of standard and custom magnesium alloys, Galaxy Motion will help the automotive industry embrace a new era of more energy-efficient metals.
The core mission of Galaxy Motion is to promote the widespread use of magnesium alloys across the entire transportation sector, in order to significantly increase fuel-efficiency and range, to reduce greenhouse gas emissions and positively impact climate change over time. Based in New York, the new subsidiary is committed to global cooperation among various companies across a wide range of industries.
To highlight the launch, Galaxy Motion is sponsoring a cross-industry open forum, the Flying Tigers Institute, so that technical knowledge can be shared broadly. The first meeting of the industry forum, co-sponsored by Galaxy with SRO Motorsports, will take place Friday, September 18 in Austin, Texas at the Circuit of the Americas racetrack, during the SRO America tour.
Dan Panoz, president – Galaxy Motion says, “Having already seen the potential benefits of vehicle lightweighting through magnesium optimization in our race vehicles, we’re excited to form this company with Galaxy Magnesium,” said Dan Panoz, the new president of Galaxy Motion. We helped to define the benefits of magnesium optimization in our vehicles and on other projects. The results are very promising, and the Panoz team is committed to fulfilling their potential.”
Greg Gill, President, SRO Motorsports America says, “Panoz is a top-ranked contender on the SRO Tour, and with Galaxy they’re now bringing new technologies to racing that interest us very much. Making cars with magnesium-optimized systems is part of the future that SRO embraces — lighter, faster, greener, responsive to global business, economic and environmental priorities. We’re pleased to work with Galaxy Motion to expand our audience, to present motorsports that are increasingly popular with people around the world, exemplifying the human and technical excellence that make
competitive auto racing so compelling.”
Michael North, president – Galaxy Magnesium says, “The teams at Galaxy Magnesium and Panoz Engineering understand that new magnesium technologies are ready to impact the automotive industry. The same principles that make a high-performance race car more competitive through magnesium alloys can be applied to many other vehicles, from bicycles, motor scooters, passenger vehicles, commercial trucks, heavy machinery, buses to high-speed rail cars. Galaxy has the resources, both in the mines and in the bank, to deliver certified magnesium to the transportation industry at competitive prices that are
stabilized over an extended period, through a comprehensive global supply chain.”