High-power microwave system manufacturer The Elmet Group (ELMT.US) applies for listing in the United States, planning to raise $115 million.

The Elmet Group, which manufactures key materials and high-power microwave products for the aerospace and defense sectors, submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Monday, aiming to raise up to $115 million. The company plans to list on Nasdaq under the stock symbol "ELMT". Based in Portland, Maine, The Elmet Group utilizes refractory metals such as tungsten, molybdenum, and niobium, as well as high-power microwave technology to manufacture precision components and engineering systems. Its products are designed for applications that require operation in extreme high temperatures, electromagnetic intensity, and other harsh operating environments, covering areas such as aerospace, defense, semiconductor equipment, medical devices, industrial systems, and energy infrastructure. Its business includes material processing, machining, manufacturing, and engineered microwave components, forming a vertically integrated manufacturing model that can support customized parts and provide professional system-level solutions. Data shows that the company achieved revenues of $202 million in the 12 months ending December 31, 2025.