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Desktop Metal Commences Shipments of Production System P-50 With Inaugural Customer Stanley Black & Decker
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Rhea-AI Summary
Desktop Metal (NYSE:DM) has successfully shipped its first Production System™ P-50 printer to Stanley Black & Decker (NYSE:SWK). This milestone signifies the commercialization of Desktop Metal's advanced additive manufacturing technology, enabling mass production of metal parts. The P-50 is designed for high-performance output and is expected to be up to 100 times faster than traditional methods, with a production capacity reaching millions of parts annually. This development follows a $100 million investment and four years of dedicated research and development.
Positive
Successful shipment of the first P-50 printer enhances Desktop Metal's market position.
P-50 expected to achieve up to 100 times the speed of legacy manufacturing methods.
Significant investment of $100 million indicates strong confidence in product development.
First customer Stanley Black & Decker represents a major industrial partnership.
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BOSTON--(BUSINESS WIRE)--
Desktop Metal (NYSE:DM) today announced it has shipped its first Production System™ P-50 printer to Stanley Black & Decker (NYSE: SWK), marking the commercialization of the company’s flagship additive manufacturing technology for mass production of end-use, metal parts.
Desktop Metal has shipped its first Production System P-50 printer, marking the commercialization of the company’s flagship additive manufacturing technology for mass production of end-use, metal parts. The P-50 is designed to mass produce high-performance metal parts with the repeatability and cost required to compete with conventional manufacturing. (Photo: Business Wire)
As one of the most highly anticipated advanced manufacturing systems ever introduced, the P-50 is the product of nearly $100 million in investment and a four-year development program overseen by Desktop Metal engineers and materials scientists. The P-50 is designed to mass produce high-performance metal parts with the repeatability and cost required to compete with conventional manufacturing.
Stanley Black & Decker, the first P-50 customer, is a purpose-driven industrial organization that operates the world’s largest tools and storage business, including such iconic brands as DEWALT, BLACK+DECKER and CRAFTSMAN.
The Production System - World’s Fastest Way to 3D Print Metal Parts At-Scale
Created by the inventors of binder jetting and single-pass inkjet technology, the Production System is an industrial manufacturing platform powered by Desktop Metal’s Single Pass Jetting™ technology. It is designed to achieve speeds up to 100 times those of legacy powder bed fusion additive manufacturing technologies and enable production quantities of up to millions of parts per year at costs competitive with conventional mass production techniques. The platform supports a robust materials library including ten qualified metal alloys - from commercially pure copper to stainless steels such as 17-4PH - with additional metal alloys in active development.
Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum, named to MIT Technology Review’s list of 50 Smartest Companies, and the 2021 winner of Fast Company’s Innovation by Design Award in materials and Fast Company’s Next Big Things in Tech Award for sustainability. For more information, visit www.desktopmetal.com.
About Stanley Black & Decker
Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is the world’s largest tool company operating nearly 50 manufacturing facilities across America and more than 100 worldwide. Guided by its purpose – for those who make the world – the company’s more than 60,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world’s makers, creators, tradespeople and builders. The company’s iconic brands include DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, Cub Cadet, Hustler and Troy-Bilt. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders.
Forward-looking Statements
This press release may contain 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, 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. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 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.
What is the significance of Desktop Metal shipping its first P-50 printer?
The shipment of the P-50 printer marks the commercialization of Desktop Metal's advanced additive manufacturing technology for mass production, improving their market presence.
How does the P-50 printer compare to traditional manufacturing methods?
The P-50 printer can operate up to 100 times faster than legacy powder bed fusion additive manufacturing technologies, enhancing production efficiency.
Who is the first customer of the Desktop Metal P-50 printer?
Stanley Black & Decker is the first customer to receive the P-50 printer, indicating a significant partnership in manufacturing.
How much investment did Desktop Metal put into the P-50 development?
Desktop Metal invested nearly $100 million and spent four years developing the P-50 printer.
