The startup's aim was to build "white label" products for banks - apps and services that large lenders could stick their logo on and give to their customers. Travers and Sutherland set up WeAreBriqs in early 2015. The pair may well dispute the version of events told to BI. Most of the sources who spoke to BI are owed money and so have an issue with Travers and Sutherland. The sources spoke to Business Insider on the condition of anonymity, fearing that speaking publically could damage their financial claims against the pair, which are still ongoing. IAmBank's press officer said the startup had no comment on the story as "Briqs and IAmBank are two separate companies." In a blog post advertising the new venture, Travers says IAmBank will help people with "paying off their debts sooner and building their wealth and savings faster."īoth Travers and Sutherland declined repeated requests to comment through IAmBank's press officer. WeAreBriq's British cofounders, Lee Travers and Sebastian Sutherland, are now understood to be in Chicago working on a digital challenger bank, IAmBank. The cofounders of a new challenger bank are being pursued by former associates and staff for what they claim are unpaid debts of tens of thousands of pounds.Ĭompanies and individuals that dealt with WeAreBriqs, an apparently now-defunct banking technology company, claim they are owed over £100,000, according to documents reviewed by Business Insider and conversations with over half a dozen sources. Lee Travers appearing on online financial channel Cheddar earlier this year.
Click here to read about recent developments in the global ferromolybdenum market.Account icon An icon in the shape of a person's head and shoulders. Molybdenum metals are available in numerous shapes and forms such as rods, bars, tubes, sheets, plates, discs, squares, and wires. Pure molybdenum can be obtained from MoOx by further hydro- and pyrometallurgical processing. Around 30% to 40% of MoOx produced is converted into FeMo by processing plants. MoOx comes in the form of powder which can be further processed into briquettes which are easier to handle by many steel plants. However, it can also be used directly as an alloying agent, where it is charged together with steel scrap to ensure the desired molybdenum content (usually 55 wt% and 65 wt%). Molybdenum oxide (MoOx) is the basis from which nearly all commercial molybdenum products such as Ferromolybdenum (FeMo), molybdenum metal, or chemical molybdenum oxide are produced through further processing. Molybdenum Oxide Briquettes / Powder (MoOx Briqs / Powder): FeMo can be added during both cast iron and steel production, whereby more than 80% is consumed by the steel industry for the production of stainless and high-alloy steels. FeMo is commercially available in the form of lumps with a grain size of 5-50mm, with a molybdenum content between 60 wt% and 75 wt%.
Molybdenum-based alloys offer a unique combination of mechanical properties, including high strength at elevated temperatures, high thermal and electrical conductivity with low thermal expansion.įerromolybdenum is an alloying agent that is produced by reducing MoOx together with iron oxide in an aluminothermic reaction. Molybdenum is one of the most effective alloying agents, of which about 80% is used in the production of various types of steel such as structural steels, stainless steels, high speed steels, tool steels and many more.
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