Posted on by Editorial Staff

3D printing unicorn Desktop Metal becomes public-listed company on NYSE valued at $2.5 billion

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.

We are at a major inflection point in the adoption of additive manufacturing. We are energized to make our debut as a publicly traded company and begin our partnership with Trine, which will provide the resources to accelerate our go-to-market efforts and enhance our relentless efforts in R&D.Ric Fulop, Desktop Metal CEO

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.

We are thrilled to partner with Ric and Desktop Metal to help the Company achieve its goals and capture the massive Additive Manufacturing 2.0 opportunity. Thanks to its tremendous team, we believe Desktop Metal has incredible potential for future growth, which will only be accelerated by the extensive financial resources provided by this transaction.Tom Wasserman, Director of TRNE and Managing Director of HPS Investment Partners

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, info@creatz3d.com, or call +65 6631 8555.

Like what you read? Share the love!

Related posts:

No related posts.