Velo3D to Transform its Production Operations With the Hiring of Brad Kreger as Executive Vice President of Operations

Rhea-AI Summary

Velo3D has appointed Brad Kreger as Executive Vice President of Operations to enhance production capabilities for its Sapphire family of printers. Kreger's extensive experience includes roles at Fluidigm Corporation and Thermo Fisher Scientific, focusing on improving production efficiency and quality. His leadership aims to scale operations, reduce costs, and meet growing demand in 2023. Velo3D anticipates increased production for its Sapphire XC printer, aligning with its strategy to solidify its position in the additive manufacturing sector.

Positive

• Appointment of Brad Kreger as EVP of Operations to enhance production efficiency.
• Kreger's experience in scaling operations is expected to drive growth.
• Current ramp-up of production for the Sapphire XC printer is aligned with market demand.
• Velo3D's technology is positioned for significant growth in the additive manufacturing industry.

Negative

• None.

Former Fluidigm Corporation Executive to Scale the Production of Velo3D’s Sapphire Family of Printers to Meet the Company’s Production Goals

CAMPBELL, Calif.--(BUSINESS WIRE)-- Velo3D, Inc. (NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced it has appointed Brad Kreger as Executive Vice President of Operations to support the company’s goals in production growth, quality standards, and cost reduction. Kreger brings decades of experience overseeing and rapidly scaling operations in hardware production, including tenures at Thermo Fisher Scientific and its subsidiary Affymetrix, and Fluidigm Corporation. He will have oversight of Velo3D’s various manufacturing facilities and their corresponding teams, reporting to Velo3D CEO and Founder Benny Buller.

Brad Kreger, Executive Vice President of Operations at Velo3D (Graphic: Business Wire)

Kreger’s career has centered around early-stage companies that are scaling the manufacturing of hardware while also making improvements in quality and cost. In his former role as Senior Vice President of Global Operations at Fluidigm, he successfully led strategic initiatives to increase production of its mass cytometry technology, and improve the customer experience through operational efficiencies, enhanced infrastructure and streamlined execution.

“Running global operations at a company that is scaling as fast as Velo3D is an incredible challenge, but Brad is well suited to help us reach the next level given his extensive background working with growing companies that provide of highly sophisticated hardware,” said Buller. “I look forward to seeing Brad optimize our operations to accelerate the production our Sapphire and Sapphire XC printers, increase our manufacturing capabilities, and reach our production goals for 2023 and beyond.”

In his new role overseeing production, Kreger will lead all operations activities at Velo3D, including global logistics, manufacturing, quality, and procurement. Kreger will also be responsible for managing partnerships with key suppliers while automating planning and procurement processes.

“Velo3D is in a unique position, as its metal additive manufacturing technology is experiencing increasing demand to meet the needs of its customers,” said Kreger. “I’m thrilled to join such an innovative company that is transforming so many important industries in meaningful ways. I am confident we will be successful in increasing the production of the Sapphire family of printers and navigating the growth we’re forecasting in the coming year.”

Since shipping its first production printers in 2019, Velo3D has seen strong growth year-over-year. The company is currently ramping up the production volume of its latest Sapphire XC printer, which provides one of the biggest build volumes in the laser powder bed fusion class of metal 3D printers. In 2023, Velo3D is aiming to increase production of the Sapphire XC printer and lower costs. Scaling the company’s operations team with the hiring of Kreger will support Velo3D’s growth goals and further strengthen its position as the leader in growth within the additive manufacturing industry.

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 San Francisco Chronicle’s prestigious annual list of Top Workplaces in the Bay Area 2022. 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 goals for 2023 and the Company’s other 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/20221213005067/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

FAQ

What is the significance of Brad Kreger's appointment at Velo3D?

Brad Kreger's appointment as EVP of Operations is crucial for enhancing Velo3D's production capabilities and scaling operations to meet growing demand.

How does Velo3D plan to increase production in 2023?

Velo3D aims to increase production by optimizing operations and leveraging Brad Kreger's experience to meet the rising demand for its Sapphire XC printer.

What are Velo3D's goals for the Sapphire XC printer?

Velo3D's goals for the Sapphire XC printer include increasing production volume and reducing costs in 2023.

What industries does Velo3D serve with its additive manufacturing technology?

Velo3D serves industries including space exploration, aviation, power generation, energy, and semiconductors with its advanced metal 3D printing technology.