Desktop Metal Releases Statement Supporting the Biden Administration’s Initiative to Boost Supply Chain Resilience with Additive Manufacturing

Rhea-AI Summary

Desktop Metal (NYSE: DM) announces its commitment to the Biden Administration’s AM Forward initiative, which aims to enhance U.S. supply chains through additive manufacturing (AM). The company focuses on making AM technology accessible to all manufacturers, facilitating quicker, cost-effective, and sustainable production. Notably, 90% of North American foundries plan to invest in capital improvements, including 3D printers. Desktop Metal will showcase over 300 3D printed parts at the RAPID + TCT event from May 17-19 in Detroit, highlighting its role in modernizing manufacturing and reducing dependency on global supply chains.

Positive

• Commitment to AM Forward initiative supports U.S. supply chains.
• 90% of North American foundries expect to invest in capital improvements.
• Showcasing over 300 3D printed parts at RAPID + TCT event demonstrates technology capabilities.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- Desktop Metal, Inc. (NYSE: DM) today announced its support and commitment for the Biden Administration’s Additive Manufacturing Forward (AM Forward) initiative aimed at strengthening U.S. supply chains by supporting the adoption of additive manufacturing (AM), or industrial 3D printing, among small- and medium-sized manufacturers.

As a global industry leader in AM, Desktop Metal’s mission is to help make AM 2.0 technology accessible to companies of all sizes so they can produce more advanced parts and products faster, while also producing more sustainably and closer to the point of end use.

Ric Fulop, Co-founder and CEO of Desktop Metal, said the time is right for the AM Forward initiative.

“Additive manufacturing has long held the potential to de-risk supply chains and enable new innovations. With manufacturing reshoring already accelerating as a result of the historic supply chain disruption caused by the COVID-19 pandemic, the AM Forward initiative is a timely and progressive approach to modernizing our nation’s outdated manufacturing infrastructure with cutting-edge technologies that will help ensure that the work stays here for the long term.

“At Desktop Metal, we are committed to making additive manufacturing accessible to companies of all sizes in terms of speed, cost, and material availability. One of the key benefits of 3D printing is supporting localized manufacturing that reduces reliance on global supply chains. Parts can be stored as digital files and easily sent around the world to be downloaded and printed as needed. By allowing manufacturers to quickly produce parts when and where needed, the need for global shipping, large inventories and overproduction is greatly reduced. Additive manufacturing is the modern manufacturing technology of the future, and it’s the right time for American industry to support this transition to the next era of production.”

AM-Enabled Supply Chain Resilience

Adoption of 3D printing is already improving industrial competitiveness among a number of businesses across a variety of industries.

U.S. foundries, for example, are adopting AM to deal with a surge in demand. Following years of contraction, the U.S. metalcasting industry is experiencing growth as a result of supply chain changes related to the COVID-19 pandemic. A recent survey released by the American Foundry Society shows that 90 percent of responding North American foundries anticipate making capital investments in the next 12 months, including industrial 3D printers. Among those adopting Desktop Metal’s technology: Alpha Foundry of Wright City, Mo., D.W. Clark of Taunton, Mass., Founders Service & Manufacturing Co. Inc. of Deerfield, Ohio, and HTCI Co. of New Carlisle, Ohio.

“We look forward to partnering with the Biden Administration, ASTRO America, America Makes, and all those working together to transform manufacturing in the U.S. through AM Forward,” Fulop said.

Desktop Metal will showcase a collection of more than 300 3D printed production parts May 17-19 in Detroit at RAPID + TCT, North America's largest and most influential AM event, alongside production-capable printing platforms for metals, polymers, elastomers, ceramics, composites, and upcycled wood materials. The exhibit will illustrate how additive manufacturing is ready to de-risk supply chains with its ability to produce high-quality, cost-competitive end parts and tooling on demand, while delivering sustainability and innovation benefits.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005495/en/

Media Relations:

Lynda McKinney

lyndamckinney@desktopmetal.com

(978) 224-1282

Investor Relations:

Jay Gentzkow

jaygentzkow@desktopmetal.com

(781) 730-2110

Source: Desktop Metal, Inc.

FAQ

What is Desktop Metal's involvement in the AM Forward initiative?

Desktop Metal supports the Biden Administration’s AM Forward initiative to enhance U.S. supply chains through additive manufacturing.

When will Desktop Metal showcase its 3D printed parts?

Desktop Metal will showcase over 300 3D printed parts at the RAPID + TCT event from May 17-19 in Detroit.

What percentage of North American foundries plan to invest in 3D printing technology?

90% of responding North American foundries anticipate making capital investments, including in industrial 3D printers.

What are the key benefits of additive manufacturing according to Desktop Metal?

Additive manufacturing enables quicker production, cost efficiency, and sustainability by reducing reliance on global supply chains.

Where is Desktop Metal headquartered?

Desktop Metal is based in Burlington, Massachusetts.