Australian metal 3D printing company AML3D has raised A$7m through a heavily oversubscribed private placement.
It comes after the company, which raised A$9m through an Initial Public Offering earlier this year, issued 15.5 million shares that were heavily bid upon by new and existing investors. AML3D believes the extra funding will help it to ‘capitalise on large-scale customer opportunities’, with the company already operating alongside Tier 1 companies in the aviation, mining, marine and defence industries.
The investment will be leveraged to increase additive production capacity at the company’s headquarters in Adelaide. This facility houses a number of AML3D’s Arcemy Wire Additive Manufacturing (WAM) platforms, which combine a heat source in the form of an electric arc and wire feedstock to produce free form parts. WAM technology is pitched as a ‘challenger’ to other wire-feed stock metal 3D printing methods, such as Electron Beam Melting, but differentiates itself with its ability to ‘print metal parts in an open freeform fabrication environment using localised inert gas purging’. This, AML3D says, eliminates the need for an enclosed chamber of any kind, which does not limit the component build size, while a variety of gas mixtures and controlled cooling can be used to enhance the final part’s properties.
AML3D not only plans to commission additional production modules to meet an ‘anticipated upcoming demand’, but will also look to hire additional engineers, designers and manufacturing assistants, as well pursue and execute large contracts with medium-to-long lead times. This will supplement plans outlined after the IPO to relocate and expand its Adelaide facility, which is said to be partially complete, and establish a Singapore facility, R&D initiatives and working capital.
Commenting on this most recent investment, AML3D Managing Director Andrew Sales said: “We are very pleased with the strong support AML3D has received from new and existing shareholders, who share our vision of deploying advanced, Industry 4.0 manufacturing technologies globally. The funds raised from this Placement will enable AML3D to accelerate and execute its various business development initiatives, which will provide a platform for further growth and continue to establish AML3D as an industry leader.”