Nasdaq Stockholm AB has approved Freemelt Holding AB’s (publ) (“Freemelt” or “the Company”) application for admission to trading of the Company’s shares on Nasdaq First North Growth Market. The company will be traded under the short name “FREEM” with ISIN code SE0011167170. The first day of trading was July 7, 2021.
Freemelt
Freemelt was founded in 2017 by a team with very long and unique experience in metal 3D printing. The Company has developed new patent-pending technology and Freemelt ONE, an advanced 3D printer based on electron beam technology optimized for professional development of new metal materials, which has been sold and delivered to several customers.
In 2020, the Company’s net sales amounted to approximately SEK 6.4 million with a loss of approximately SEK 4.4 million. As of December 31, 2020, the Company’s total assets amounted to approximately SEK 33.7 million. During April 2021, the Company carried out a pre-IPO issue which provided the Company with approximately SEK 85 million at a subscription price of SEK 10 / share.
The company’s 15 largest owners includes Carlbergssjön AB, Industrifonden, Lindeblad Venture AB, Palmstierna Invest AB and Ola Rollén. As of today, Freemelt has approximately 5,000 shareholders. The Board of Directors, senior executives and major shareholders have, through a commitment to lock up, undertaken not to sell any shares for a period of twelve (12) months from the first day of trading on the Nasdaq First North Growth Market. The number of shares that are under lock-up corresponds to approximately 68 percent of all outstanding shares in the Company.
“The recently completed investment round now gives us the opportunity to develop a powerful and cost-effective 3D printing system for the manufacturing industry to broaden our offering in line with our long-term strategy. The listing of Freemelt on Nasdaq First North Growth Market is an important step in the development of the Company, which will increase awareness of Freemelt and our products.”
– Ulric Ljungblad, CEO Freemelt
3D printing is layer-by-layer fabrication of parts by fusing of raw material. Each layer is melted in a unique layer pattern extracted from a 3D-CAD drawing. The most common raw material is powder (metal or plastic) and the most common 3D printing process is called Powder Bed Fusion (PBF). Freemelt uses Electron Beam Powder Bed Fusion (E-PBF) with high power and high temperature for fast 3D printing in metal powder, which provides excellent material quality in manufactured parts.
The first practical tests with 3D printing took place in 1981 through printing in photopolymers. Three years later, in 1984, stereolithography was invented, a 3D printing technology for selectively curing plastics into finished 3D prints. In 1988, powder-based 3D printing using laser technology was invented at the University of Texas, later licensed to the startup company DTM, later acquired by 3D-Systems. Today, this technology is the most widely used for many advanced applications in 3D printing. In 1991, the first successful experiments were performed at the University of Leuven, Belgium, with electron beam-based 3D printing similar to Freemelt’s technology.
3D printing has developed rapidly since then with ever-increasing application areas and growing market shares in prototype manufacturing and production. Despite this, most metal components are still manufactured with other, more traditional, manufacturing methods such as casting or machining. Sales of machines for advanced 3D printing have increased annually in double digits for many years and are expected to grow at a similar rate in the foreseeable future.
Freemelt’s next step is to develop a production system for 3D printing based on the electron beam technology developed for Freemelt ONE, which will be launched on the market in selected business areas. Aligning towards this next step, Freemelt’s Board of Directors believes that a listing creates the conditions for growth and accelerated value creation for shareholders, through increased interest in the Company from analysts, investors and the general public, both domestically and internationally.
About Manufactur3D Magazine: Manufactur3D is an online magazine on 3D Printing. Visit our Global News page for more updates on Global 3D Printing News. To stay up-to-date about the latest happenings in the 3D printing world, like us on Facebook or follow us on LinkedIn and Twitter.
