Elementum 3D receives investment from Sumitomo Corporation of Americas
Elementum 3D, Inc., a Colorado-based R&D company specializing in the development of advanced metals and composites for additive manufacturing, has received an investment from trading firm Sumitomo Corporation of Americas (SCOA). The backing will enable Elementum 3D to expand its marketing and sales efforts for its proprietary metal powder technology.
The powder in question is made up of a combination of metal and ceramic particles. This unique mixture unlocks faster printing speeds and superior mechanical properties compared to more traditional metal AM powders. The patented material also makes it possible to adapt more metal grades for use with additive manufacturing.
“This investment is an excellent complement to our growing portfolio in the additive manufacturing space,” said Kazuaki Tsuda, Senior Vice President and General Manager of Steel and Non-Ferrous Metal Group at Sumitomo Corporation of Americas. “Elementum is pioneering new intelligence related to the raw materials supply chain in additive manufacturing, and we see abundant opportunity for these applications in the near future.”
SCOA, a trading company with investments across many industries, sees huge potential in Elementum 3D and its products. Notably, the investment company believes Elementum’s additive materials could be used in many of its own business verticals, like aerospace, steel, mineral resources and tubular. SCOA also suggests that Elementum’s offering could “disrupt the current supply chain altogether” by enabling AM adopters to work directly with Elementum instead of raw materials manufacturers.
“We are excited to have Sumitomo Corporation of Americas come onboard as an investor,” commented Dr. Jacob Nuechterlein, President of Elementum 3D. “It speaks volumes that a company of this size and reach has such confidence in what we are creating. With this series A funding, we are eager to get our product further out into the marketplace and continue to grow our client base.”
In addition to Elementum 3D, SCOA has invested in a number of companies working in the AM sphere, including Sintavia, AREVO and Shapeways.
