Velo3D | January 07, 2022
Velo3D, Inc., a leader in metal additive manufacturing technology for mission-critical parts, has qualified Amperprint® 0233 Haynes® 282®, a nickel-based superalloy powder, for use in its Sapphire® line of printers. The powder was manufactured under license from Haynes International, Inc. by Höganäs AB, a world leader in metal powder production. It is developed for high creep strength, thermal stability, weldability, and fabricability not found in other alloys. As a result, the material is well suited for high-temperature structural applications such as energy generation, gas turbines, and space launch vehicles. In addition, it is used to construct heat exchangers, combustors, nozzles, combustion liners, rocket engines, and shrouded impellers.
Duncan Machine Products (DMP), a contract manufacturer situated in Duncan, Oklahoma, will run the first Sapphire® printer using Amperprint® 0233 and Haynes® 282® powder. The system will be DMP's eighth Velo3D Sapphire® printer.
"Our goal at Velo3D is to enable engineers to build the parts they want without compromising on design or quality, Qualifying new powdered metals, like Amperprint® 0233 and Haynes® 282®, for use in our end-to-end solution further expands what’s possible with our additive manufacturing technology. Our partners at Höganäs provide materials of the highest quality, and I look forward to seeing what our customers build using this amazing alloy."
-Benny Buller, Velo3D CEO and Founder.
For high-temperature applications, powdered nickel-based superalloys, such as Amperprint 0233 and Haynes® 282®, are typically used to print parts because of the alloy's resilience to cracking and its ability to work at temperatures close to the melting point.
This tolerance enables the alloy-printed components to be used in vacuums, plasmas, and other demanding environments. In addition, due to the powder's excellent weldability, it is useful for components in bigger systems due to its ability to be welded to other components.
Höganäs is a leader in developing powders for additive manufacturing, producing products with a uniform spherical shape, precise chemical control, and better flowability. The powders are created from the purest sources and have exact trace element compositions that give the metals their distinctive qualities.
"It’s inspiring to see what engineers have been able to build using metal powders from Höganäs and Velo3D’s support-free additive manufacturing process,The first parts printed using our Amperprint® 0233 Haynes® 282® powder are impressive, and I believe customers are only scratching the surface of what is possible with this superalloy. The powder, combined with Velo3D’s end-to-end solution metal AM solution, is an extremely effective combination for consolidating parts into monolithic structures to eliminate coefficient of thermal expansion in large, high-performance systems."
-Jerome Stanley, Höganäs Director of Global Sales, Customization Technologies.
Velo3D was one of the first companies to offer Amperprint® 0233 Haynes® 282® powder to its customers. Many of Velo3D's customers use the company's end-to-end solution to manufacture components for aviation, energy, oil and gas, space, and other high-performance applications, making the powder a natural fit for the company's portfolio. Along with Amperprint® 0233, Haynes® 282® powder, Velo3D's technology is compatible with the following metal powders: Hastelloy X®, Inconel 718, aluminum F357, Ti 6Al-4V Grade 5, and several more.
*This press release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1996. These forward-looking statements include, but are not limited to, statements about the company's future expectations, hopes, beliefs, intentions, or strategies. They contain significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Accordingly, you should carefully evaluate the risks and uncertainties outlined in the company's periodic SEC filings.
3Diligent | October 21, 2020
3Diligent, a main Industry 4.0 software company and on-demand manufacturing supplier, today declared updates to its manufacturing-as-a-service application, ProdEX, and its scalable shop management application, Shopsight.
3Diligent's ProdEX application uses exclusive calculations to evaluate Requests for Quote (RFQs) put together by clients and issues cites or interfaces them with producers everywhere on the world. Its Shopsight application gives clients admittance to extend openings from ProdEX and empowers distant evaluation, citing, and venture the board. The two frameworks join 3Diligent's Connect interface which empowers clients and makers to impart legitimately utilizing a safe online entryway and Zoom videoconferencing instruments.
3Diligent's most recent update introduces manufacturers with the capacity to promote inside the Connect interface. Its RFQ-driven advertisement serving tends to one of the key problem areas makers battle with when publicizing on the web. Like conventional web index promoting, producers can make text advertisements that will show dependent on a client's material and innovation prerequisites. Notwithstanding, in contrast to conventional web indexes, Connect is driven by RFQ inputs as opposed to catchphrases. Accordingly, producers can anticipate higher ROI from Connect promoting. This degree of customization will likewise enable ProdEX Connect clients looking for qualified makers for their item prerequisites.
3Diligent's ProdEX and Shopsight applications have likewise been refreshed to incorporate a Design Studio portal, empowering clients to more readily grow new items. Clients can transfer their plan records and solicitation an assortment of plan for manufacturing studies to be run on their plan. With these investigations, clients can distinguish approaches to improve their plan to quicken manufacturing and diminish costs. The manufacturing processes included in the design studio portal span milling, turning, sheet metal bending and forming, and injection molding, with additional manufacturing processes to be added in the future.
The COVID-19 pandemic has altogether affected the manufacturing industry, quickening the reception of Industry 4.0 arrangements as makers move rapidly to digitize their activities to work all the more productively and remain associated with clients. Thusly, clients have needed to acclimate to a completely far off item improvement measure as they center around building a stronger gracefully chain. 3Diligent's ProdEX and Shopsight applications empower clients to defeat barriers introduced by the pandemic by engaging clients to bridle the full intensity of disseminated advanced manufacturing. The new highlights reported today increment usefulness by empowering more prominent network among makers and clients and giving apparatuses that engage a totally distant item configuration measure.
3Diligent is a leading Industry 4.0 software and services company. Founded in 2014, 3Diligent empowers its users to embrace and unleash the power of distributed digital manufacturing with its proprietary Vulcury digital manufacturing platform. The Vulcury platform consists of three applications: ProdEX, Shopsight, and 3Depot. ProdEX is an algorithm-based manufacturing-as-a-service application that enables engineers and buyers to procure custom parts on-demand from manufacturers around the globe. Shopsight is a subscription-based, scalable shop management system that enables better job and machine shop operations through a suite of assessment, quoting, fulfillment, and quality tools. 3Depot is a digital manufacturing materials and processes search tool that provides information on thousands of materials and equipment. Lastly, 3Diligent offers a range of Industry 4.0 consulting services, including custom installations of Vulcury platform, through its Additive Consulting offering. 3Diligent counts inventors, startups, SMBs, SMMs, and Fortune 500 enterprises among its customers.
Essentium | December 02, 2021
Essentium is an advanced manufacturing ecosystem provider that develops industrial 3D printing solutions across systems, materials, software, and services to enable a new distributed and sustainable manufacturing footprint. The Company’s ecosystem cost-effectively addresses full-scale production runs, producing parts that can match the strength of injection molding at a very low total cost of ownership (“TCO”) compared to industry peers. Essentium’s ability to create high quality parts using best-in-class printing speeds, all while maintaining a disruptive TCO, has enabled the Company to unlock substantial value for additive manufacturing applications.
“Essentium is transforming the future landscape of supply chains by delivering truly distributed, sustainable manufacturing and operating solutions within all contexts including the ability to operate successfully in contested logistics environments,Fundamental deficits in our existing global supply chain models are being exacerbated by escalating obstacles such as trade imbalances and the global pandemic – all leading to protracted distribution bottlenecks. Today’s announcement represents a major milestone in our efforts to provide long-term, sustainable solutions for a new manufacturing paradigm that can meet these global challenges head-on. Essentium’s solution deploys regional, distributed production capabilities to enable supply chain transparency, and flexible inventory management at a highly competitive TCO, all while reducing waste and supporting a limited carbon footprint through on-site printing.”
Blake Teipel, Ph.D., Chief Executive Officer of Essentium
“We launched Atlantic Coastal with an ESG-centric focus and a mandate to partner with a company that will transform the nature of international commerce, and we believe that Essentium, with its potential to change the global supply chain, is exactly that partner,” said Shahraab Ahmad, Chairman and Chief Executive Officer of Atlantic Coastal. “Blake and his experienced team have developed a deep technology moat, a product ecosystem validated by the DoD, and a razor/razor-blade model that delivers significant recurring revenue, supporting gross margin expansion and highly attractive unit economics.”
“We believe that following this transaction, Essentium will be extremely well-positioned for rapid growth as it further expands its ecosystem offerings, capitalizes on its line-of-sight sales pipeline, and executes on its M&A strategy as it continues to advance additive manufacturing as a public company,” said Tony Eisenberg, Chief Strategy Officer of Atlantic Coastal Acquisition Corp.
Christian Angermayer, advisor to Atlantic Coastal Acquisition Corp, added, “I am excited to be an investor in Essentium which will revolutionize additive manufacturing through its proprietary platform. They are driving transformative changes to the global supply chain and I look forward to seeing their growth as a public company.”
Essentium Investment Highlights
Highly advanced technology includes Essentium’s line of High Speed Extrusion (HSE™) 3D Printing Platforms, which are 5 to 15 times faster compared to incumbent extrusion additive manufacturing systems; Essentium’s transformational data capture abilities enable real-time capture of critical parameters via high-fidelity data streams at a rate that is on average 14 times faster per variable than traditional additive manufacturing
Currently serves a $209 billion TAM by meeting a range of commercial and mission critical use cases for its global machine tooling, jigs, fixtures, and thermoplastics offering, as well as relevant DoD applications
Marquee customer base that includes the U.S. DoD, Lockheed Martin Corporation and Ford Motor Company (“Ford”), among other aerospace and defense, government, and blue-chip industrial customers
Extensive IP portfolio across polymer and metal systems, processes, and materials, with more than 150 patents to date
Highly experienced management team with deep material science and supply chain backgrounds
Continuing to innovate beyond its lineup of polymer- and polymer-composite solutions, including its FlashFuse™ technology, Essentium is developing a suite of metal-additive systems designed to offer unique metallurgies and advanced microstructures for applications with demanding structural integrity. Essentium’s investment in metal additive solutions and new investment in digital manufacturing initiatives is expected to carve out incremental market opportunities for an all-in estimated $318 billion TAM.
Following the closing of the proposed transaction, Essentium will continue to be led by its existing management team including Dr. Blake Teipel, Chief Operating Officer Lars Uffhausen, and Interim Chief Financial Officer Jonathan Bailiff, and by an experienced Board of Directors including Burt Jordan, President of Atlantic Coastal Acquisition Corp. and a former executive at Ford.
The proposed business combination values the combined company at a $974 million pro forma enterprise value, at a price of $10.00 per share and assuming no redemptions by Atlantic Coastal shareholders, offering an attractive valuation of 4.6x Essentium’s projected 2023E Revenue of $212 million. The proposed transaction is expected to deliver up to $346 million of net proceeds to the Company, assuming no redemptions and net of transaction expenses, including a fully committed common stock PIPE of over $40 million at $10.00 per share led by institutional and strategic investors including BASF, Atalaya and Apeiron. Atlantic Coastal’s management team is also contributing $20 million to the PIPE.
Existing Essentium shareholders will roll over 100% of their equity into the combined company. Following the closing of the transaction, these shareholders are expected to hold approximately 64% of the issued and outstanding shares of common stock.
Atlantic Coastal and ACM ARRT VII C LLC, an affiliate of Atalaya, have agreed to conduct a joint tender offer for the shares held by Atlantic Coastal stockholders seeking to exercise redemption rights in connection with the closing of the proposed transaction. Subject to certain limitations, Atalaya has agreed to purchase the first 10 million shares tendered by stockholders exercising such redemption rights, while Atlantic Coastal will purchase any shares in excess of 10 million shares tendered for redemption. To the extent that the number of shares tendered by stockholders exercising redemption rights is fewer than 10 million shares, then (a) Atalaya will purchase any shares tendered by stockholders exercising redemption rights plus (b) Atalaya will purchase shares in a PIPE at $10.00 per share in an amount equal to the difference between 10 million shares minus the number of shares purchased by Atalaya in the tender offer. Subject to early settlement or termination under certain circumstances, Atlantic Coastal has agreed to purchase all of the shares acquired by Atalaya in the joint tender offer or PIPE at the redemption price pursuant to a forward purchase agreement, which provides for the purchase of such shares by Atlantic Coastal along with the related settlement of such forward purchase in cash or shares, at Atalaya’s election, occurring two years thereafter.
The boards of directors of both Essentium and Atlantic Coastal have each unanimously approved the proposed business combination, which is expected to be completed around the end of the first quarter of 2022, subject to, among other things, the approval by Atlantic Coastal’s shareholders of the proposed business combination, the concurrent PIPE transaction, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions, including a registration statement on Form S-4 being declared effective by the U.S. Securities and Exchange Commission (the “SEC”), the receipt of certain regulatory approvals, and approval by Nasdaq to list the securities of the combined company.
About Essentium, Inc.
Essentium, Inc. provides industrial 3D printing solutions that are disrupting traditional manufacturing processes by bringing product strength and production speed together, at scale, with a no-compromise engineering material set. Essentium manufactures and delivers innovative industrial 3D printers, materials, software, and services, enabling the world’s top manufacturers to bridge the gap between 3D printing and machining and embrace the future of advanced manufacturing. Essentium is AS9100D certified and ITAR registered.
About Atlantic Coastal Acquisition Corp.
Atlantic Coastal Acquisition Corp. is a $345 million special purpose acquisition company focusing on the businesses in the mobility sector.