Alloy 35Mo is a new versatile Ni-alloy which has corrosion and mechanical properties comparable to advanced Ni-base alloys, with the benefit that it can be processed like a stainless steel. The alloy was recently designated UNS N08935 with the composition 35Ni-30Fe-27Cr-6.5Mo-0.28N and has a PREN of 52. This paper presents the mechanical and physical properties of the material and results from corrosion testing. Corrosion results from general corrosion testing in acid environments, together with results from stress corrosion cracking testing in chloride environments and pitting corrosion testing show that UNS N08935 can be used in harsh environments in many applications, e.g. heat exchangers in refinery industry and equipment with seawater cooling. UNS N08935 also has high mechanical strength, and good weldability has been shown using Alloy 59 as filler metal.