Galaxy Magnesium and Panoz Engineering Form New Subsidiary: Galaxy Motion

NEW YORK, Sept. 17, 2020 /PRNewswire/ -- 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. #GTCOTA

Dan Panoz, president – Galaxy Motion

• "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

• "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

• "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."

LIVESTREAM & TV BROADCAST 
Each race will be broadcast on YouTube– YouTube.com/GTWorld. On Sunday, September 20, the "GT World Challenge America powered by AWS" race will also be shown live on the CBS Sports Network (the livestream will start after the CBS Sports broadcast on that day). 

SIRIUSXM BROADCAST 
SRO's dedicated show on SiriusXM radio will be on air for all races at Channel 383 or 984.

LIVE TIMING 
Live Timing will be available via TSL - https://www.tsl-timing.com/event/203806.

# GTCOTA

To schedule a media interview or analyst briefing with executives, please contact [email protected] or call +1-310-374-6177.

For more information about Galaxy Magnesium, the company's products and capabilities, please contact business@galaxymagnesium.com or call +1-212-502-7639

Join the #MagnesiumRevolution

About Galaxy Magnesium
Galaxy is the world's premiere direct source of magnesium, revolutionizing entire industries with light, strong, versatile, durable and green magnesium – superior in many ways to steel or aluminum alloys. An international company based in the United States, Galaxy is streamlining global supply chains, offering custom alloys for unparalleled performance and delivering Galaxy Magnesium to pave the way to a lightweight future through reasonable, stable cost, guaranteed quality commercial magnesium. With offices in America, Europe and Asia, Galaxy is well positioned to responsively serve global markets. Join the #MagnesiumRevolution by visiting www.GalaxyMagnesium.com and following us on LinkedIn.

About Panoz Engineering and Panoz Racing
Panoz has been a Small Volume Auto Manufacturer and a prolific competitor in motorsports for more than 25 years. As a manufacturer, Panoz road cars led a wave of innovation in vehicle lightweighting, focused on modular aluminum-intensive vehicles. In motorsports Panoz is an engineer, builder and proven winner in Le Mans prototype classes, with GT2 class wins at Lemans and Sebring, as well as multiple wins at Indianapolis and Indy Car, Championships in GT4 and Trans Am. Panoz is the constructor of various spec type race cars and Deltawing race vehicles. The current effort with the SRO will be another game changer, as Panoz applies its deep experience with aluminum to magnesium alloys. Panoz and Galaxy will execute the racing program with a transparent protocol: sharing magnesium alloy material and manufacturing technologies openly as a platform for vehicle lightweighting. Follow Panoz on Facebook, Instagram, Twitter, and YouTube.

SOURCE Galaxy Magnesium

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