Boston-based 3D printing unicorn, Desktop Metal, has announced its merger with Trine Acquisition Corp, a special purpose acquisition company led by former cable exec Leo Hindery Jr. and HPS Investment Partners, to become a public-listed company on the New York Stock Exchange with an estimated equity valuation of $2.5 billion.
The public listing which could raise up to $575 million of investment will give the company fresh impetus to expand aggressively, accelerate product development efforts, and to capitalize on the growing adoption of metal 3D printing by companies to make their supply chains more flexible especially in this post-COVID world. The target for Desktop Metal CEO, Ric Fulop, is to see the company expand to over $1 billion in revenue over the next five years.
Citing statistics from 3D printing analyst Wohlers Associates, the additive manufacturing industry buoyed by a shift in applications from design prototyping and tooling to mass production of end-use parts, is expected to surge from a revenue of $12 billion in 2019 to an estimated $146 billion in 2030.
This ‘second wave’ of 3D printing innovation which Desktop Metal refers to as “Additive Manufacturing 2.0” will allow the company to capitalize on its position within the industry and re-invest to reinforce its position.
To learn how your parts will work with Desktop Metal Systems, contact our sales engineers for an in-depth discussion to better understand your requirements – via the contact form, firstname.lastname@example.org, or call +65 6631 8555.