Desktop Metal Triples Manufacturing Capacity for Production System P-50

Rhea-AI Summary

Desktop Metal has announced the opening of a new in-house manufacturing facility in Massachusetts to significantly increase assembly space dedicated to its Production System platform. This expansion aims to address the rising demand for the P-50 printer, aimed at mass production of 3D printed metal parts. The new facility will help accelerate the production ramp, with initial builds slated for shipment in Q4 2021. The Production System can produce metal parts up to 100 times faster than traditional methods, allowing high-volume production at competitive costs.

Positive

• Opening of a new manufacturing facility, increasing final assembly space more than threefold.
• Targeting shipment of the P-50 printer for Q4 2021, indicating production readiness.
• Production System technology allows for production speeds up to 100 times faster than traditional methods.

Negative

• Dependency on the successful ramp-up of the new assembly facility to meet demand.
• The need for ongoing procurement and assembly could introduce operational risks.

Desktop Metal Opens New In-House Manufacturing Facility, Accelerating Production to Meet Demand for the World’s Fastest Metal 3D Printing Technology

BOSTON--(BUSINESS WIRE)-- Desktop Metal (NYSE: DM) today announced the opening of a new in-house manufacturing facility that will more than triple the final assembly space currently dedicated to the Production System^TM platform to meet robust demand for the world’s fastest metal 3D printing technology. This new facility is part of a strategic plan to accelerate the production ramp of Desktop Metal’s flagship Production System P-50 printer, for which the Company is engaged in component procurement and assembly of initial builds targeted for shipment in the fourth quarter of 2021.

“After a significant development cycle, we are experiencing growing, pent-up demand for our Production System P-50 solution. As we continue to convert these opportunities, expanding our in-house final assembly capabilities has become a critical step to scaling deployment of our Single Pass Jetting technology,” said Ric Fulop, Founder and CEO of Desktop Metal. “This new facility in Massachusetts, in conjunction with our contract manufacturers and suppliers, supports our ability to meet growing demand for high-volume applications. We are now well-positioned to supply our global customers with the fastest metal 3D printing platform to enable cost-effective mass production via additive manufacturing.”

The Production System - the 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^TM 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 P-50 printer is paving the way for the mass production of end-use parts -- unlocking throughput, repeatability, and competitive part costs. For more information on the P-1, the P-50, and Production System technology, visit www.desktopmetal.com/products/production.

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. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005578/en/

Media Relations

Lynda McKinney

lyndamckinney@desktopmetal.com

(978) 224-1282

Investor Relations

Jay Gentzkow

jaygentzkow@desktopmetal.com

(781) 730-2110

Source: Desktop Metal

FAQ

What is the significance of Desktop Metal's new manufacturing facility?

The facility will more than triple assembly space for the Production System, crucial for meeting increased demand.

When is Desktop Metal expecting to ship its P-50 printer?

Initial builds of the P-50 printer are targeted for shipment in the fourth quarter of 2021.

How does the Production System compare to traditional manufacturing methods?

The Production System can achieve speeds up to 100 times faster than legacy powder bed fusion technologies.

Where is the new manufacturing facility located?

The new facility is located in Massachusetts.

What technology does the Production System utilize?

It employs Desktop Metal's Single Pass Jetting technology for efficient metal 3D printing.