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Equispheres secures $20 million investment round

The financing was led by Martinrea as breakthroughs in AM production speeds spark soaring demand and rapid expansion

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Metal powders for 3D printing are seen as a major opportunity in Canada. After the Norwegian-Canadian compamny Tekna reported on excellent financial results and growth, Canada-based Equispheres Inc. completed an initial close on its Series B financing totaling approximately $20 million CAD. The financing was led by global automotive leader, Martinrea International Inc., with participation from new institutional investors. The financing will remain open until June 30, 2024.

Equispheres secures $20 million investment round led by Martinrea as breakthroughs in AM production speeds spark soaring demand Martinrea, which manufactures large numbers of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector, had never disclosed a specific interest for AM technology before. This decision indicates that even manufacturers that are looking to produce very large numbers of parts are now looking into metal 3D printing and specifically, as also recently indicated by Tekna, into metal binder jetting.

Equispheres looks to enable high throughput production via industrial additive manufacturing with its innovative atomization technology for metal powders. For instance, Equispheres aluminum powders increase printing speeds up to nine times higher than industry standards, thereby lowering production costs by up to 80%. The company further supports industrial adoption by improving the mechanical properties of printed parts while increasing energy efficiency, reusability, and safety of metal additive manufacturing.

“The potential of additive manufacturing to transform traditional manufacturing is undeniable as evidenced by the fact that most of the top companies in the automotive, aerospace and defense sectors are actively engaged. Yet widespread industrial adoption requires a leap in productivity,” said Kevin Nicholds, President and CEO of Equispheres. “By working closely with global leaders in automotive, aerospace and defense, we have been able to use our technology to engineer materials that unlock new high-speed additive manufacturing processes and new applications.”

“We believe our path to success lies in partnering with our customers to reduce the overall cost of additive manufacturing,” said Nicholds. “This will lead to tremendous growth potential, where metal powders will be the largest part of the value chain,” noting that the global casting market for aluminum alone is approximately C$100 billion annually.

The funding from Martinrea will be used by Equispheres to bring on multiple new reactors in 2024 to support existing production programs, expand facilities and continue to expand collaboration on new materials with strategic partners.

“Equispheres’ continuing track record for driving performance improvements with additive manufacturing is truly impressive, opening doors to a wide variety of new and exciting higher-volume applications,” said Pat D’Eramo, Chief Executive Officer of Martinrea International.

“Martinrea is the ideal lead investor for our Series B financing,” Nicholds said. “Not only are they a highly successful global automotive leader who are experts in lightweighting of aluminum components, but they are also an innovative thought leader with a great culture. We can learn a lot from Martinrea on our journey to be the leader in what is forecast to be a multi-billion materials market for additive manufacturing.”

“We are also grateful to have the continued support of Business Development Bank of Canada and Sustainable Development Technology Canada at this critical growth stage,” he added.

INFOR Financial Inc. and Stifel Nicolaus Canada Inc. acted as financial advisors, and McCarthy Tétrault LLP acted as legal counsel to Equispheres in connection with the financing.

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Davide Sher

Since 2002, Davide has built up extensive experience as a technology journalist, market analyst and consultant for the additive manufacturing industry. Born in Milan, Italy, he spent 12 years in the United States, where he completed his studies at SUNY USB. As a journalist covering the tech and videogame industry for over 10 years, he began covering the AM industry in 2013, first as an international journalist and subsequently as a market analyst, focusing on the additive manufacturing industry and relative vertical markets. In 2016 he co-founded London-based VoxelMatters. Today the company publishes the leading news and insights websites and, as well as VoxelMatters Directory, the largest global directory of companies in the additive manufacturing industry.

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