Sep 17, 2018 | By Thomas

Stratasys Spinoff Evolve Additive Solutions today announced the completion of an equity investment of $19M led by the LEGO Brand Group with participation from Stanley Black and Decker Investments and a third undisclosed investor.

Evolve Additive Solutions was formed earlier this year as a spin-off of Stratasys to develop and launch its proprietary Selective Thermoplastic Electrophotographic Process (STEP) technology which aims to radically improve manufacturing with a scalable solution that’s 50 times faster than existing additive manufacturing solutions.

Built on Stratasys’ 3D printing and additive manufacturing expertise, Evolve’s STEP technology is expected to compete with traditional processes, such as injection molding. The solution is intended for high-volume production runs into the hundreds of thousands per year.

Designed for automated manufacturing and factory-floor integration, the highly scalable and extensible STEP solution combines time-tested 2D imaging technology with proprietary IP developed by Evolve to precisely align incoming layers and sophisticated bonding techniques that create final parts that are fully dense with isotropic properties of injection molding.

“Evolve has entered an exciting new growth phase as we begin commercial development of our proprietary STEP technology,” commented Steve Chillscyzn, CEO of Evolve Additive Solutions. “We are excited to have forged equity partnerships with world leading companies that recognize the production potential of STEP and are committed to working alongside Evolve to bring the technology to commercialization.”

The LEGO Group has been using Additive Manufacturing technology for more than 20 years. "Today, the company mainly employs the technology to create prototypes in the development of new products and we believe that the technology will become an even more important supplement to the current Injection Moulding capabilities in the future," said Per Hjuler, LEGO Brand Group business development. "With Evolve Additive Solutions we have found a very competent partner within this area.”

Other investors in Evolve Additive Solutions include Stratasys as a minority shareholder as well as an undisclosed investor. BNP Paribas acted as exclusive financial adviser to Evolve.



Posted in 3D Printer Company



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