Sintavia secures additional investment from Sumitomo Corporation
Sintavia, a Florida-based metal AM company serving the aerospace and space industries, has announced an increased investment from Sumitomo Corporation of Americas (SCOA), a subsidiary of Sumitomo Corporation. The investment, which builds on SCOA’s initial stake in the company dating back to 2018, will enable Sintavia to continue its business growth.
The specific terms of the strategic investment were not disclosed, though Sumitomo’s stake is still a minority. The infusion will allow Sintavia to scale up its business and continue to offer 3D printed parts to leading aerospace and space companies around the world. Specifically, it will support the company in producing flight-critical components using AM and in advancing its technical capabilities.
“We truly value SCOA as a long-term partner for Sintavia and are excited to expand our existing relationship,” said Brian R. Neff, Sintavia’s CEO and Managing Partner of Neff Capital Management LLC, Sintavia’s majority owner. “With this investment, we are further aligning ourselves with a global thought leader in additive manufacturing that is committed to supporting our continued growth.”
Beyond the recent investment, SCOA and Sintavia will also continue to explore various applications for Sintavia’s expert design and AM capabilities that are relevant to Sumitomo Corporation Group’s global industrial activities. The investment is now undergoing customary regulatory review and is expected to close in the second half of 2020.
“Since our initial investment in 2018, we’ve been impressed by Sintavia’s leadership and growth in such a short time,” commented Kevin Hyuga, SVP and General Manager of SCOA’s Construction and Transportation Systems Group. “We see continued synergies in the future through this partnership, and look forward to continuing to help Sintavia support the Aerospace and Space industry. Moreover, Sintavia is well-aligned with our company’s sustainability goals. Through its technology, Sintavia is capable of reducing waste in the additive manufacturing production process, allowing end-stage products to fly lighter, ultimately reducing greenhouse gases and helping to create a more sustainable society.”
Also recently, Sintavia expanded its manufacturing capability with the acquisition of an additional Q20+ electron beam printer from GE Additive, making for a total of three electron beam systems and nineteen industrial metal printers.