Oct 23, 2017 | By Tess

French metal 3D printing startup BeAM has announced a 1.6 million euro increase in its capital thanks to a decision from its thirteen private shareholders. The renewed investment brings the 3D printer manufacturer's capital up to over 8 million euros.

Founded in 2012, Strasbourg-based BeAM has become a key player in the metal 3D printer industry known for its innovative Laser Metal Deposition (LMD) technology. The process uses laser beam technology and a patented CLAD nozzle system to build 3D objects from extruded metal powder.

The company has seen significant growth since its beginnings, with a reported 1.2 million euros in turnover in 2015, and an estimated 7.3 million euros in turnover expected in 2017.

As a sign of its growth and impact on metal 3D printing, the company reported in 2015 that its LMD 3D printing technology had been used to repair over 800 aerospace parts for an American company.

With the added 1.6 million euros to its capital from existing investors, BeAM will undoubtedly continue its growth through the development and proliferation of metal AM systems. The company also says it is planning additional fundraising rounds  and possibly even to align itself with other companies in the industry.

As Vincent Gillet, CEO of BeAM, explained: “The real question is to choose the right partner in an environment where everyone is looking for material manufacturers, machine vendors, and customers who integrate these technologies into their processes.”

Gillet, previously a part of ArcelorMittal Group, was named CEO of BeAm this past September. He has laid out his intentions for the company, stating his mission to increase BeAM’s presence in both Europe and abroad, as well as to strengthen the company’s existing partnerships and form new ones with strategic partners.

Another significant aspect of Gillet’s work with BeAM is to increase the presence of BeAM’s American subsidiary, BeAM Machines, Inc. and to bring new 3D printing technologies and systems to market. Based ot of Cincinnati, the BeAM subsidiary officially opened the doors to its 20,000 square foot facility August 2017.

BeAM's new 5-axis Modulo 3D printer

In terms of its 3D printing systems, BeAM’s Mobile and Magic 2.0 3D printers are already on the market and are marketed for industrial-level metal additive manufacturing.

Its newest machine, Modulo, a five-axis LMD/DED 3D printer, will be presented at Formnext, an industrial 3D printing event held every November in Frankfurt, Germany. The new 3D printer boasts a build volume of 650 x 400 x 400 mm and is being marketed for R&D and industrial projects that require a high level of quality and accuracy in their prints.



Posted in 3D Printer Company



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