Apple is Officially Liquidmetal's Sugar Daddy
Earlier this week, Paul reported
on Apple securing a license for exclusive use of a new, strong, and flexible alloy for use in its products. The alloy, dubbed "Liquidmetal," has better than twice the strength of titanium, but cools quickly and can be easily molded like plastic. As some MMi readers quickly pointed out, this appears to be the first step to fulfilling Sarah Connor's prophecy. Nonetheless, Apple made the deal and "no other electronics manufacturer will be able to use the alloy."
Today, Apple Insider is reporting that Apple's agreement with the alloy maker is officially saving Liquidmetal Technologies from an enormous debt problem. According to Liquidmetal's 8-K filing with the U.S. Securities and Exchange Commission, the company swiftly paid off its $10.9 million debt with its newfound funds from Apple. "The foregoing obligations were paid with proceeds from the previously announced strategic licensing transaction with Apple Inc.," the filing reads.
Although Apple is yet to publicly comment on its plans for Liquidmetal, it's clear to both industry professionals and casual outside observers that Apple is angling to build stronger and more durable products, especially future generation iPhones. The material in question is so strong "that a one inch wide bar can lift 300,000 pounds, while to a titanium bar the same size that can only lift 175,000 pounds."