voxeljet Selected for $14.9M Contract Alongside GE Research to Develop Advanced Manufacturing Technologies to Enable the U.S. Energy Transition

Rhea-AI Summary

voxeljet receives DoE funding for development of 3D printer for manufacturing sand-casting molds

Positive

• Funding from the DoE will support voxeljet in developing a large sand binder jet 3D printer for manufacturing sand-casting molds. The technology aims to produce metallic near net shape components for the wind and hydro energy sectors, reducing production time and costs. GE Research has selected voxeljet as its partner for the $14.9 million award.

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• None.

Funding from the U.S. Department of Energy (DoE) for the development of novel manufacturing processes

• The DoE grant will fund the development and commercialization of a voxeljet (NASDAQ: VJET) sand binder jet 3D printer used to manufacture massive sand-casting molds
• The new manufacturing technology will produce metallic near net shape (NNS) components for the wind and hydro energy sectors, reducing production time and costs
• voxeljet will develop and build a 3D sand printer with breakthrough size for the additive manufacturing of sand molds for casting parts ranging from 10 tons to over 60 tons

FRIEDBERG, Germany--(BUSINESS WIRE)-- GE Research has selected voxeljet (NASDAQ: VJET) as its partner for the U.S. Department of Energy’s (DoE) $14.9 million award in federal funding for the development and commercialization of a large sand binder jet 3D printer, called Advanced Casting Cell (ACC), to accelerate the United States’ transition to clean power. In addition to voxeljet, GE Research has also selected GE Hydro, GE Onshore Wind, GE Offshore Wind, Clemson University, Oak Ridge National Laboratory (ORNL), and Hodge Foundry as partners on the ACC project.

Offshore Windturbine from GE Renewable Energy (© GE Renewable Energy) (Photo: Business Wire)

The Advanced Casting Cell project was established to strengthen the U.S. manufacturing industry and expertise to boost the cost-effective domestic production of large metallic near net shape (NNS) components in alignment of the Biden Administration’s clean power-generation strategy. The ACC will be developed and deployed to produce sand molds to manufacture metallic NNS parts. With development of the ACC, the project includes the digital creation of mold designs via a digital foundry as well as the completion of a techno-economic analysis of cost and supply chain challenges.

The project aims to produce 3D-printed large scale sand molds to cast components for the nacelle of the GE Haliade-X Offshore Turbine. The nacelle, where mechanical components are housed, can weigh more than 60 metric tons. The goal is to reduce the time it takes to produce this pattern and mold, from around ten weeks to two weeks. According to Data Bridge Market Research, the global wind turbine nacelle market has estimated to be valued at $6.6 billion in 2021 and projected to be over $15 billion by 2029.

This novel manufacturing technology has the potential to reduce overall hydropower costs by 20% and lead times by four months. The project will also include the production optimization of a 16-ton rotor hub using the ACC as well as the development of a robotic welding process for the assembly of a >10-ton Francis runner. To help ensure successful implementation of ACC, an advanced manufacturing curriculum is being created for local workforce development to train and engage workers on the specifics of this 3D printing manufacturing technology.

“We’re excited to be a part of this future-driven and innovative project,” said Dr. Ingo Ederer, CEO of voxeljet. “The development and cost-efficient manufacturing of clean power-generation technologies is in high-demand because it is key to meeting and overcoming global climate challenges. We are confident that additive manufacturing, and specifically our large-scale Binder Jetting technology, is the right choice to manufacture complex parts used in these next-generation wind turbines.”

About voxeljet
voxeljet’s (NASDAQ: VJET) roots reach back to the year 1995 with the first successful dosing of UV-resins. In the context of a "hidden" project, initial 3D-printing tests are performed at the Technical University Munich. Our company was founded on May 5, 1999 as a spin-off from TUM in Munich with a clear vision in mind: to establish a new manufacturing standard by developing new generative processes for the series-production of complex components using 3D printing. In the beginning, operations are launched with four employees at the TUM. Today, we are a globally acting, leading provider of high-speed, large-format 3D printers and on-demand 3D printed parts to industrial and commercial customers. Components manufactured with the help of our technology are flying in space, make mobility more efficient and the production of new engineering solutions possible. Visit our website www.voxeljet.com, and follow us on Linkedin, or on Twitter.

Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements concerning our business, operations and financial performance. Any statements that are not of historical facts may be deemed forward-looking statements. You can identify these forward-looking statements by words such as ‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘intends,’’ ‘‘may,’’ ‘‘could,’’ ‘‘might,’’ ‘‘will,’’ ‘‘should,’’ ‘‘aims,’’ “projects” or other similar expressions that convey uncertainty of future events or outcomes. Forward-looking statements include statements regarding our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations concerning, among other things, our results of operations, financial condition, business outlook, the potential timeline for development of and application of new technology and new materials and their impact on future business, the industry in which we operate and the trends that may affect the industry or us. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance. All of our forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are in some cases beyond our control and that may cause our actual results to differ materially from our expectations, including those risks identified under the caption “Risk Factors” in voxeljet’s Annual Report on Form 20-F and in other reports voxeljet files with the U.S. Securities and Exchange Commission. Except as required by law, voxeljet undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231011327841/en/

Johannes Pesch

Director Investor Relations, Business Development and Purchasing

+49-821-7483-172

johannes.pesch@voxeljet.de

Frederik von Saldern

Specialist PR & Media

voxeljet AG

+49-821-7483-447

frederik.vonsaldern@voxeljet.de

Source: voxeljet AG

FAQ

What is the purpose of the DoE funding?

The funding is for the development and commercialization of a voxeljet sand binder jet 3D printer for manufacturing sand-casting molds.

What sectors will benefit from this technology?

The wind and hydro energy sectors will benefit from the production of metallic near net shape components.

Who is partnering with voxeljet on this project?

GE Research, GE Hydro, GE Onshore Wind, GE Offshore Wind, Clemson University, Oak Ridge National Laboratory (ORNL), and Hodge Foundry are partnering with voxeljet on the project.

What is the goal of the project?

The goal is to reduce the production time and costs of sand-casting molds for wind turbines, specifically the nacelle of the GE Haliade-X Offshore Turbine.

What is the estimated value of the wind turbine nacelle market?

The wind turbine nacelle market is estimated to be valued at $6.6 billion in 2021 and projected to be over $15 billion by 2029.

How will this technology benefit hydropower?

The technology has the potential to reduce overall hydropower costs by 20% and lead times by four months.

What other components will be produced using the ACC?

The project will also include the production optimization of a 16-ton rotor hub and the development of a robotic welding process for a >10-ton Francis runner.

What is voxeljet's role in the project?

voxeljet will develop and build the 3D sand printer using its large-scale Binder Jetting technology.

How will the local workforce be involved in the project?

An advanced manufacturing curriculum is being created for local workforce development to train and engage workers on the specifics of this 3D printing manufacturing technology.