Desktop Metal Announces Sale of Production System P-50 and Super Fleet of Metal Binder Jet Systems to FreeFORM Technologies

Rhea-AI Summary

FreeFORM acquires the world's largest fleet of Desktop Metal binder jet 3D printers, including 25 DM printers, offering additive manufacturing of various metals. Strategic partnership with Ryerson Holding Corporation. FreeFORM now 3D prints production jobs for global customers. Capabilities to be showcased at Fabtech event. Positive outlook for cost efficiency and speed to market.

• Pennsylvania-based FreeFORM now owns the world’s largest fleet of Desktop Metal binder jet 3D printers, which transform metal powder into complex end-use parts
• Founded in 2020, FreeFORM has a strategic partnership with Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals and a primary investor in FreeFORM since 2022
• In all, FreeFORM now operates 25 DM printers, including Production System, Shop System, and X-Series models that can efficiently produce small- to midsize components for companies who have highly complex part designs or face supply chain disruptions
• FreeFORM now offers additive manufacturing of a wide range of metals on its 25 DM printers, including 17-4PH, 316L, and 420 stainless steels, as well as 4130, 4140 and 4340 low-alloy steels, S7 and M2 tool steels, and infiltrated materials

BOSTON--(BUSINESS WIRE)-- Desktop Metal, Inc. (NYSE: DM), a global leader in additive manufacturing technologies for mass production, today announced the sale of a Production System P-50 and a full fleet of metal binder jet systems to FreeFORM Technologies. FreeFORM’s primary investor is Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China.

FreeFORM Technologies President Nate Higgins, shown in front of a Desktop Metal X25Pro, now operates the world’s largest fleet of 25 Desktop Metal binder jet 3D printers, which transform metal powder into complex end-use parts. The Pennsylvania-based FreeFORM is also slated to take delivery of a Production System P-50, the world's fastest metal binder jet system with Single Pass Jetting (SPJ) technology. (Photo: Business Wire)

Based in St. Marys, PA, FreeFORM now operates a fleet of 25 metal printers through the sale. Previously, FreeFORM owned nine Desktop Metal binder jetting systems. FreeFORM is now 3D printing production jobs for hundreds of customers globally. In all, the company has produced more than 350,000 parts with binder jetting technology for customers in the industrial, defense, medical, robotic, and consumer goods markets, and its facilities are also equipped with traditional manufacturing and quality control tools.

FreeFORM Technologies capabilities will be displayed in partnership with Ryerson at Fabtech, North America’s largest metal forming, fabricating, welding and finishing event, in Chicago from Sept. 11-14. The companies will exhibit in booth A5914.

“FreeFORM’s investment in metal binder jetting demonstrates our continued commitment to employing world-class additive manufacturing processes to meet the needs of our customers,” said Nate Higgins, President of FreeFORM. “This addition of DM printers strengthens our capabilities in this area, allowing us to provide greater cost efficiency and speed to market.”

“Desktop Metal is delighted to see a startup with deep experience in powder metal and sinter-based technologies pushing the limits of what metal binder jet 3D printing technology can do,” said Ric Fulop, Founder and CEO of Desktop Metal. “FreeFORM is leading the way among our Super Fleet owners, which we define as customers using three or more of our Additive Manufacturing 2.0 systems. Desktop Metal now has hundreds of Super Fleet customers worldwide delivering final production of metal, polymer, and ceramic parts with our binder jet additive manufacturing systems. We remain confident that the cost, quality and material flexibility offered by binder jetting will continue its momentum in serial AM production.”

For more information about producing metal parts with FreeFORM, visit www.freeformtech.com.

About Ryerson

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,300 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.

About FreeFORM

FreeFORM is a first-of-its-kind contract additive manufacturer. Founded in 2020 by a group of engineers, FreeFORM aims to bring metal injection molding and metal binder jet technology to the masses through best-in-the-industry equipment and unparalleled customer service. . FreeFORM’s co-founders bring a diverse outlook into metals manufacturing and are committed to providing world-class services to the customer while providing low cost of ownership and speed to market. Our vision is to be the benchmark for additive manufacturing. Learn more about FreeFORM at www.freeformtech.com

About Desktop Metal

Desktop Metal (NYSE:DM) is driving Additive Manufacturing 2.0, a new era of on-demand, digital mass production of industrial, medical, and consumer products. Our innovative 3D printers, materials, and software deliver the speed, cost, and part quality required for this transformation. We’re the original inventors and world leaders of the 3D printing methods we believe will empower this shift, binder jetting and digital light processing. Today, our systems print metal, polymer, sand and other ceramics, as well as foam and recycled wood. Manufacturers use our technology worldwide to save time and money, reduce waste, increase flexibility, and produce designs that solve the world’s toughest problems and enable once-impossible innovations. Learn more about Desktop Metal and our #TeamDM brands at www.desktopmetal.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to the risks and uncertainties set forth in Desktop Metal, Inc.'s filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230911784813/en/

Media Relations:

Sarah Webster

sarahwebster@desktopmetal.com

(313) 715-6988

Investor Relations:

Jay Gentzkow

jaygentzkow@desktopmetal.com

(781) 730-2110

Source: Desktop Metal, Inc.