“Blake and his experienced team have developed a deep technology moat, a product ecosystem validated by the DoD, and a razor/razor-blade model that delivers significant recurring revenue, supporting gross margin expansion and highly attractive unit economics.”
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“We launched Atlantic Coastal with an ESG-centric focus and a mandate to partner with a company that will transform the nature of international commerce, and we believe that Essentium, with its potential to change the global supply chain, is exactly that partner,” said Shahraab Ahmad, Chairman and Chief Executive Officer of Atlantic Coastal. In the news of its merger with Atlantic Coastal, Essentium noted that it is creating a “suite of metal-additive systems designed to offer unique metallurgies and advanced microstructures for applications with demanding structural integrity.” The firm suggests that this will allow it to gradually tackle a total address market of $318 billion.
This is the just the beginning of the firm’s materials and process capabilities. With the purchase of Collider, it has brought in-house a unique digital light processing (DLP) method for the production of injection molding-style parts, as well. Its HSE systems are described by Essentium as being five to 15 times faster than other extrusion machines, with real-time data capture. Wishing to get onto the market sooner than was possible with this technique, the company released its high-temperature, high-speed extrusion (HSE) machines, the HSE 180 HT and HSE 280i HT, making it a fully-fledged machine manufacturer, in addition to providing software, services, and materials. To overcome Z-axis weakness, Essentium’s FlashFuse process relies on electromagnetic elements to Joule heat the interfaces between layers, activating nanoparticles within the polymer filament and joining the layers together with a strong bond.Įssentium’s HSE 280i HT 3D printer. Essentium’s solution deploys regional, distributed production capabilities to enable supply chain transparency, and flexible inventory management at a highly competitive TCO, all while reducing waste and supporting a limited carbon footprint through on-site printing.”Įssentium was founded in 2013, beginning with a focus on materials and improving z-axis adhesion in material extrusion technology. Today’s announcement represents a major milestone in our efforts to provide long-term, sustainable solutions for a new manufacturing paradigm that can meet these global challenges head-on. “Fundamental deficits in our existing global supply chain models are being exacerbated by escalating obstacles such as trade imbalances and the global pandemic – all leading to protracted distribution bottlenecks. “Essentium is transforming the future landscape of supply chains by delivering truly distributed, sustainable manufacturing and operating solutions within all contexts including the ability to operate successfully in contested logistics environments,” Blake Teipel, Ph.D., Chief Executive Officer of Essentium, said. Once the two merge, the resulting entity will still be called Essentium and will trade on the Nasdaq under the ticker symbol “ADTV”. The Austin-based startup has entered into a definitive business combination agreement with Atlantic Coastal Acquisition Corporation ( NASDAQ: ACAH), with the deal expected to be completed toward the end of Q1 2022.
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Essentium is the latest firm in the 3D printing industry to announce a merger with a special purpose acquisition company (SPAC) to achieve a public listing.