ADDMAN Purchases Two Velo3D Sapphire XC Printers to Provide Customers With High-volume Production Capabilities

Rhea-AI Summary

Velo3D, a leader in metal additive manufacturing, announced that ADDMAN, a contract manufacturer, has acquired two Sapphire XC printers. These printers will enhance production capabilities at ADDMAN's Castheon facility, particularly in the space, aviation, energy, and defense sectors. The new printers allow for parts that are 500% larger and can decrease production costs by up to 75%. ADDMAN aims to leverage this technology to maintain a competitive edge and meet growing customer demands.

Velo3D continues to innovate in additive manufacturing, recently recognized by Fast Company as one of the most innovative companies in manufacturing for 2023.

Positive

• ADDMAN purchases two Sapphire XC printers, enhancing its production capacity.
• New printers allow for 500% larger parts and reduce production costs by 75%.
• Velo3D recognized as one of Fast Company's Most Innovative Companies for 2023.

Negative

• None.

Additive-focused Contract Manufacturer Will Use its Additional Printers to Meet the Growing Demand of its Customers in Space, Aviation, Energy and Defense, Installing Them in its Castheon Facility

FORT MYERS, Fla.--(BUSINESS WIRE)-- Velo3D, Inc. (NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced ADDMAN, an additive-focused contract manufacturer and engineering firm, has purchased two Sapphire XC printers. The printers will be installed in ADDMAN’s Castheon facility, expanding its existing fleet of Sapphire printers and helping the company meet the demands of its customers in space, aviation, energy, and defense. The printers will also enable ADDMAN to expand its addressable use-cases by lowering production costs of 3D printed parts and providing the capabilities to 3D print parts that are 500% larger in volume compared to the original Sapphire printer.

ADDMAN is an experienced contract manufacturer that specializes in additive manufacturing. The company provides its customers with finished, ready-to-use parts in metal and polymers. It also offers services such as injection, CMM and laser scanning, and metallurgy and print parameter development.

“Velo3D’s additive manufacturing technology allows our customers to produce their most complex, highest-performing designs in the highest-quality prints,” said Mark Saberton, CTO at ADDMAN Engineering. “With these new Sapphire XC printers, we’ll be able to provide our customers with scalable, high-volume production capabilities and larger prints. This will help us keep our competitive advantage and ensure our customers have access to the latest additive manufacturing technology.”

ADDMAN’s new Sapphire XC printers are calibrated to print in GRCop-42 and Inconel 718 alloys. GRCop-42 is a copper-based alloy that was developed by NASA for use in regeneratively cooled rocket engines and other applications that require rapid heat transfer. ADDMAN’s new GRCop-42 Sapphire XC printer is its first in this alloy. The company currently operates original Sapphire printers that utilize Inconel 718, a high-strength nickel-based superalloy that provides oxidation and corrosion resistance at high temperatures. By adding a Sapphire XC in the same alloy, the contract manufacturer can easily help its customers scale up production of parts without requalification or updated designs.

“ADDMAN is one of our top contract manufacturers for aerospace applications and its purchase of these two Sapphire XC printers will help it service its customers in new ways that empower their businesses,” said Dr. Zach Murphree, Velo3D VP of Global Sales and Business Development. “The great thing about the Sapphire XC is it uses the same technology as the original Sapphire so customers can count on the same repeatable, predictable outcomes they’re used to. For the companies that have received our first Sapphire XCs, it has been transformational to their businesses and we expect to hear the same from ADDMAN and its OEM customers.”

The Sapphire XC is designed for volume production to help customers scale their businesses. The printer made its public debut at the beginning of 2021 and has quickly become just as successful as its predecessor, the original Sapphire printer. The Sapphire XC can reduce production costs for customers by up to 75% while also increasing throughput by up to 500% compared to the original Sapphire printer.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named as one of Fast Company’s Most Innovative Companies for 2023. For more information, please visit Velo3D.com, or follow the company on LinkedIn or Twitter.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. 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. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

VELO, VELO3D, SAPPHIRE, and INTELLIGENT FUSION, are registered trademarks of Velo3D, Inc.; and WITHOUT COMPROMISE, FLOW and ASSURE are trademarks of Velo3D, Inc. All Rights Reserved © Velo3D, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005284/en/

Media Contact:

Dan Sorensen, Senior Director of Public Relations

press@velo3d.com

Investor Relations:

Bob Okunski, VP Investor Relations

investors@velo3d.com

Source: Velo3D, Inc.

FAQ

What is the significance of ADDMAN purchasing Sapphire XC printers from Velo3D?

The purchase allows ADDMAN to enhance production capabilities, particularly for larger parts and at reduced costs, enabling them to better serve customers in critical sectors.

How much can production costs decrease with the new printers?

Production costs can decrease by up to 75% with the new Sapphire XC printers.

What sectors will benefit from ADDMAN's new printers?

The sectors benefiting include space, aviation, energy, and defense.

What advantages do the Sapphire XC printers have over previous models?

The Sapphire XC printers enable the production of parts that are 500% larger and enhance scalability and cost-efficiency.

When was Velo3D recognized by Fast Company?

Velo3D was recognized by Fast Company as one of the Most Innovative Companies for 2023.