A few weeks after the first commercialization of its additive manufacturing system, Evolve Additive Solutions secures $19M to develop the commercialization of the latter.
The LEGO Brand Group, Stanley Black and Decker Investments and a third undisclosed investor ensured the investment in the company.
STEP, designed for automated manufacturing and factory-floor integration, allows users to utilize production-grade thermoplastics for volume manufacturing applications across multiple industries, including Consumer, Automotive, Industrial and Medical.
“LEGO Brand Group has invested in Evolve because it is an attractive investment opportunity, which can benefit the LEGO brand. The LEGO Group has been using Additive Manufacturing technology for more than 20 years. Today, the company mainly employs the technology to create prototypes in the development of new products and we believe that the technology will become an even more important supplement to the current Injection Moulding capabilities in the future. With Evolve Additive Solutions we have found a very competent partner within this area,” said Per Hjuler, LEGO Brand Group business development.
“We are excited about the potential impact that Evolves unique Additive Manufacturing technology could have on the production of high-quality medium volume plastic components for a number of our product categories,” said Tim Hatch Chief Technology Officer for Stanley Engineered Fasteners.
Of course, Stratasys appears as a minority shareholder in its company and BNP Paribas acted as exclusive financial adviser to Evolve.
For further information, follow us on our social media and subscribe to our newsletter!
Would you like to be featured in the next issue of our digital magazine? Send us an email at contact@3dadept.com
//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js
(adsbygoogle = window.adsbygoogle || []).push({});
THE 3D ADEPT WEEKLY NEWSLETTER
The industry moves fast. Stay ahead.
Every week, the latest additive manufacturing news, in-depth features and real-world applications, straight to your inbox. Plus, be the first to know when a new issue of 3D ADEPT Mag is out.
Free · One email a week · Unsubscribe anytime
Clicking loads our email provider’s sign-up form, including its analytics and Google’s anti-bot protection. You’re only subscribed if you complete the sign-up. Read our privacy policy.