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Desktop Metal Receives $7.9 Million System Order from Major German Car Maker for Mass Production of Automotive Components
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Desktop Metal (NYSE: DM) has secured a $7.9 million order from a major German automotive manufacturer for binder jet additive manufacturing systems. This order aims to facilitate the mass production of metal powertrain components, showcasing the company’s strong position in the additive manufacturing sector. CEO Ric Fulop highlighted this accomplishment as a testament to the advanced performance and economic viability of their solutions. Desktop Metal boasts a diverse materials library and supports various industries, reinforcing its commitment to innovative manufacturing practices.
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Secured a $7.9 million order from a major German car manufacturer.
Strengthened position in the automotive sector with mass production capabilities.
Demonstrates advanced performance and economic viability of binder jetting solutions.
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BOSTON--(BUSINESS WIRE)--
Desktop Metal (NYSE: DM), a leader in mass production additive manufacturing (AM) solutions, today announced the company has received a $7.9 million order for binder jet additive manufacturing systems from a major German car maker for the mass production of metal automotive powertrain components at scale.
"We are proud to be working with a number of major, global automotive OEMs to expand their adoption of additive manufacturing for the series production of end-use car components," said Ric Fulop, Founder and CEO of Desktop Metal. "This milestone order is evidence of the performance and economics that make our binder jetting solutions the most advanced in the world and a testament to our teams who have been working tirelessly to help make the vision of mass production via additive manufacturing a reality."
Desktop Metal offers the industry's broadest portfolio of high-throughput additive manufacturing solutions for the mass production of end-use parts, with support for a comprehensive and diverse materials library with more than 250 materials across metals, composites, polymers, ceramics, biocompatible materials, sand, wood, and elastomers. The company has a rapidly growing customer base across industries such as automotive, healthcare and dental, consumer products, aerospace, and more, supported by a team of over 1,350 dedicated employees across the globe.
About Desktop Metal
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.
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, 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.
