BASF Venture Capital is leading the Series A investment round in Texas-based Essentium Inc., a start-up offering innovative industrial additive manufacturing solutions to the automotive, aerospace, wearables and human-interacting markets
Joining BASF as a co-investor is Materialise NV, a Belgium-based software supplier to the additive manufacturing industry. No further financial details have been disclosed.
BASF and Essentium announced a partnership in May, working together on advanced fused filament fabrication (FFF) solutions. Through the partnership, the companies use Essentium’s proprietary FlashFuse technology for high mechanical strength in the build direction for extrusion printed parts.
FlashFuse performs in-situ welding which can be applied to multiple open system FFF printer platforms. The electric welding technology helps boost isotropy, an indicator for the homogeneity of a structure, and ramps up vertical strength and mechanical toughness of the printed parts.
With the new round of investment, BASF and Essentium two companies are now extending their strategic partnership to further develop Essentium’s new high speed extrusion (HSE) printer technology
Materialise will contribute through developing 3D printing software for the Essentium technology.
BASF is offering its material know-how, product portfolio, and its global network to the partnership.
Essentium aims to address additive manufacturing at scale by developing an industrial additive platform built for the production floor, providing its FlashFuse technology, and engineering-grade, multi-layer filaments for demanding applications.
“Our joint investment strengthens our co-operations with both Essentium and Materialise and accelerates the innovation potential of this powerful team to the benefit of BASF’s customers,” said Markus Solibieda, managing director of BASF Venture Capital.
“With this strategic investment… the three companies focus efforts toward a new era for smart solutions in the global additive extrusion space,” noted Blake Teipel, CEO of Essentium, Inc.