Boeing HorizonX Ventures recently announced its investment in Digital Alloys, Inc., a Massachusetts-based company developing high-speed, metal additive manufacturing systems. Digital Alloys managed to raise $12.9M Series B financing led by G20 Ventures and joined by Boeing HorizonX Ventures, Lincoln Electric, and prior investor Khosla Ventures.
Digital Alloys developed a patented Joule Printing™ technology, a radically simple new process that uses wire feedstock and high deposition rates to print the hardest metal parts faster and at a lower cost than any other solution. The technology can produce parts for aerospace, automotive and other consumer product industries. The unique technology is a multi-metal printing technology which allows metals like titanium and high-temperature alloys to be 3D printed for parts that could be used in aerospace applications.
According to Brian Schettler, Managing Director of Boeing HorizonX Ventures, “Our investment in Digital Alloys will help Boeing produce metal structural aerospace parts faster and at a higher volume than ever before. By investing in companies with emerging additive manufacturing technologies, we aim to strengthen Boeing’s expertise and help accelerate the design and manufacture of 3D printed parts to transform production systems and products.
Speaking on the partnership with Boeing, Duncan McCallum, CEO of Digital Alloys said, “Our novel Joule Printing process is faster, more cost-effective, and more reliable than other approaches. Partnering with Boeing will make us a smarter, stronger company. We are committed to enabling Boeing and other leading manufacturers to create valuable new products quickly and at less cost by incorporating metal 3D printing into their production.”
Digital Alloys was founded in early last year (January 2017) and in a really short time, it has managed to develop a technology which eliminates the complexity involved in powder-based technologies and delivers a high-resolution printing experience in multiple materials.
Speaking about the funding, Bill Wiberg, co-founder, and Partner of Boston-based G20 Ventures, said, “When you look at the process required to produce practical hard metal parts using the much-hyped early generation of metal printing, what you find is a Rube Goldberg machine of complexity, touchy materials, and complex finishing steps. This great team has invented and now commercialized an entirely new approach that’s both faster and cheaper to the point that – once you see it – you have to wonder why anyone would do it any other way.”
Additive manufacturing generates value for Boeing by reducing the cost and time needed to design, build and deliver products to customers. Today, Boeing has more than 60,000 3D-printed parts flying on space, commercial and defense products. This investment is the latest example of the company’s commitment to additive manufacturing innovation.
Boeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defence, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in more than 150 countries.
Tom Matthews, senior vice president, at Lincoln Electric, said, “Our investment in Digital Alloys and Joule Printing™ technology extends Lincoln Electric’s presence in metal-based additive manufacturing and helps advance development of value-added solutions in areas such as tooling and low-volume cast parts.”
According to Duncan McCallum, CEO of Digital Alloys, “Support from Boeing and Lincoln Electric will expand our expertise, technology, and services. We are committed to providing the products and services manufacturers need to take advantage of metal 3D printing in production. We will save customers time, money, and hassle by enabling great engineers to solve manufacturing problems in new ways. The next industrial revolution is here”.
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