Dutch metal 3D printing company Additive Industries has announced it has secured an additional 14 million Euros in investment from current shareholder Highlands Beheer.
The additive manufacturing equipment developer says it intends to use this further funding to expand its product portfolio, accelerate its technology roadmap and strengthen working capital. The financial terms of the transaction have not been disclosed.
The company also shared that its co-founder and CEO Daan Kersten will be leaving the company as of June 30th after his shares were acquired by the investor. Current Additive Industries Chief Technology Officer (CTO) Mark Vaes will take on the role of CEO while the company carries out an executive search for Kersten’s successor.
Highlands Beheer has been a stable financing partner for Additive Industries since its founding in 2012 and last year delivered a total 10 million Euro loan to the company in a deal with BOM Brabant Ventures.
Kersten stated: “This substantial investment confirms the long-term commitment of Highlands to the growth ambitions of the company and it allows Additive Industries to make yet another significant step on its mission to revolutionise the productivity for the additive manufacturing of high quality metal parts. After eight intense years of fast growth I feel the time is right to make way and hand over the reins to new leadership.”
Additive Industries launched its MetalFAB1 system back in 2015 and has since established itself within a number of key markets including the aerospace and automotive with customers such as F1 Team Alfa Romeo Racing ORLEN and Premium Aerotec.
Vaes, added: “Since our inception in 2012 we have been working relentlessly on building a system that is unlike any other. A modular system with the largest symmetrical build volume commercially available, minimum operating interference and most of all, class leading productivity. I am convinced that with the continued support of our clients, our partners, our team and our shareholder we can now push our innovation roadmap even more.”