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Shapeways and Desktop Metal Unveil Partnership to Increase Anytime, Anywhere Access to World-Class Additive Manufacturing Services
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Shapeways Holdings, Inc. (NYSE: SHPW) and Desktop Metal, Inc. (NYSE: DM) have announced a significant partnership enhancing 3D printing services. This collaboration aims to provide manufacturing teams with streamlined access to advanced 3D printing technologies at Shapeways’ facilities in New York and the Netherlands. Shapeways will utilize Desktop Metal's systems to expand its manufacturing capabilities, facilitating rapid production and cost-effective solutions for customers in various industries. This initiative is set to roll out in early 2022, with further integrations planned.
Positive
Partnership enhances 3D printing capabilities and manufacturing flexibility.
Access to Desktop Metal's high-speed printing systems and materials library.
Expansion of Shapeways' service offerings across multiple industries.
Investment in advanced Desktop Metal solutions, promoting customer growth.
Negative
Full rollout of printing solutions is not expected until early 2022, indicating potential delays in revenue generation.
Dependence on partnership success could pose risks if customer acceptance is low.
NEW YORK & BOSTON--(BUSINESS WIRE)--
Shapeways Holdings, Inc. (NYSE: SHPW) (“Shapeways” or the “Company”) and Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”) today unveiled a landmark partnership to offer manufacturing and engineering teams unprecedented flexibility and seamless access to industry-leading 3D printing services. Consistent with the strategic partnership the parties entered into in early 2021, Shapeways is expanding Desktop Metal system capacity and capabilities by providing customers access to these solutions at Shapeways’ ISO-9001 manufacturing facilities in both Long Island City, New York and Eindhoven, Netherlands. In addition, Desktop Metal plans to leverage Shapeways’ manufacturing capabilities and purpose-built software platform, Otto, to provide its customers with instant access to fully digitized, end-to-end 3D printing workflows.
“We’re extremely pleased to progress our partnership with Shapeways and propel the additive manufacturing industry forward,” said Ric Fulop, Founder and CEO of Desktop Metal. “For customers starting their digital manufacturing journeys who may not be ready to purchase equipment of their own, Shapeways will offer instant access to Desktop Metal’s comprehensive portfolio of high-speed, AM 2.0 printing platforms and rich materials library, enabling them to benefit from expedited production, reduced costs, and flexible, overflow manufacturing capacity as dictated by growing business demands.”
Shapeways is investing in and deploying a broad portfolio of Desktop Metal solutions including Studio System™, Shop System™, Production System™, Fiber™, and RAM technology as well as a variety of EnvisionTEC 3D photopolymer printing solutions to expand its global manufacturing footprint across metals, elastomers, polymers, composites, and digital casting applications. These printing solutions offer industrial customers a means to leverage 3D printing capacity on-demand to fuel business growth while balancing operating and capital expenditures. The full rollout of these printing solutions on Shapeways’ digital manufacturing platform will occur through early 2022, and additional Desktop Metal offerings will be available in the future. Additionally Shapeways intends to add technology from other industry partners, including an extended suite of post-processing and finishing options over time.
“Together, Desktop Metal and Shapeways are democratizing 3D printing, reinforced by our ability to offer anytime, anywhere access to an extensible array of high-quality manufacturing services,” said Greg Kress, CEO of Shapeways. “As Desktop Metal’s largest manufacturing services partner, we are committed to establishing ourselves as the ‘go-to’ company for businesses around the world seeking fast, efficient, execution in turning digital designs into physical products.”
Industry-leading solutions from Shapeways and Desktop Metal comply with and are subject to rigorous manufacturing requirements where production quality and consistency are paramount. The companies believe they are uniquely positioned to enable strong outcomes for customers, including high-performance end-use parts delivered with a strong ROI, across the most demanding industry sectors, including aerospace, automotive, consumer products, defense, industrials, and healthcare.
About Shapeways
Shapeways Holdings, Inc. (NYSE: SHPW) is a leading digital manufacturing platform provider offering customers access to high-quality manufacturing from start to finish through automation, innovation and digitization. The company’s purpose-built Otto software, wide selection of materials and technologies, and global supply chain lower manufacturing barriers and speed delivery of quality products. Shapeways’ digital manufacturing services have empowered more than one million customers worldwide to produce more than 21 million parts using 11 different technologies and 90 different materials and finishes. Headquartered in New York City, Shapeways has ISO 9001-compliant manufacturing facilities in Long Island City, N.Y., and the Netherlands and a network of innovative partners around the globe. It was founded in 2008 and spun-out of the Lifestyle Incubator of Royal Philips Electronics in 2010. Investors include Lux Capital, Union Square Ventures, Andreessen Horowitz, INKEF Capital, Index Ventures and Hewlett Packard Ventures. For more information, visit www.shapeways.com.
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. 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, 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 success of the companies’ strategic partnership, customer acceptance of the companies’ solutions, Shapeways’ ability to further develop and scale its digital platform, and the risks and uncertainties set forth in Desktop Metal’s and Shapeways’ respective 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 each of Desktop Metal and Shapeways assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
