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Kevton Technologies Acquires Seven Velo3D Sapphire 3D Printers to Provide Space, Aviation, Defense, and Oil & Gas Customers with Advanced Manufacturing Capabilities
Velo3D (NYSE: VLD) announced a significant acquisition by Kevton Technologies, acquiring seven Sapphire printers, marking one of the largest individual orders from a contract manufacturer. This strategic move positions Kevton as a leading supplier of additively manufactured parts, catering especially to the aerospace sector. Production is set to start in Q1 2023 at their Houston facility. The partnership highlights a strong trend towards additive manufacturing in critical industries.
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Kevton Technologies acquired seven Sapphire printers, enhancing its manufacturing capabilities.
Significant order strengthens Kevton's position in additive manufacturing, particularly for aerospace.
Set to begin production in Q1 2023, indicating immediate revenue potential.
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Houston-based Manufacturer Places One of the Largest-ever Individual Orders for Sapphire Systems, Joining Velo3D’s Contract Manufacturer Network and Helping Customers Build Their Most Complex Parts Without Compromising the Designs
HOUSTON--(BUSINESS WIRE)--
Velo3D, Inc. (NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced Kevton Technologies, a subsidiary of Houston-based contract manufacturer Kevton Industries, has acquired seven Sapphire printers to provide its customers with high-quality, additively manufactured parts. The purchase is one of the largest ever with Velo3D from a contract manufacturer and will make Kevton Technologies one of the top suppliers of additively manufactured parts relying on Velo3D's laser powder bed fusion technology. The first two Sapphire printers are scheduled to begin producing parts for customers in Q1, 2023 in Kevton’s Houston, Texas facility.
“Our team is seeing a strong trend towards additive manufacturing—especially within the aerospace industry—and our partnership with Velo3D will help us maintain our leadership position as a provider of manufactured parts within all of our key industries,” said Kevin Nguyen, Kevton Technologies President. “After meeting with many vendors of additive manufacturing technology, we understood how transformational Velo3D’s fully integrated solution could be for our service offering.”
Kevton Technologies provides its customers with an array of manufacturing services, including CNC turning, CNC milling, coordinate measuring machine inspections, wire EDM, and other finishing services. The company has an extensive list of certifications, including ISO9000/AS9100. Its new additive manufacturing division will work to continue the company’s legacy within its key industries.
“Additive manufacturing is seeing extensive growth right now and we’ve only scratched the surface of the adoption we expect to see over the next decade,” said Benny Buller, Velo3D CEO. “Companies with the foresight to acquire additive manufacturing technology now will be much better positioned to grow their market share in the coming years. We’re thrilled to be working with Kevton Technologies to help them establish themselves as a provider of mission-critical, additively manufactured metal parts.”
Velo3D’s additive manufacturing technology made its debut in 2018 and has since seen extensive adoption in the aerospace industry, with customers like Launcher, SpaceX, Hermeus, Lockheed Martin, and Aerojet Rocketdyne using it to build some of their most complex designs.
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 to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. 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.
