3D printing firm Essentium set to go public through SPAC – TechCrunch

The world of additive manufacturing will not be immune from the SPAC craze. Desktop Steel, Shapeways, Markforged and Velo3D have all both accomplished or introduced plans to go public by way of the method. Austin-based Essentium this week highlighted plans so as to add its identify to the rising checklist, courtesy of a reverse merger with Atlantic Coastal Acquisition Company.

The deal would worth the mixed corporations at $974 million, together with $345 million in money, courtesy of Atlantic Coastal. Essentium cites ongoing provide chain points as a motivating think about rising curiosity round additive manufacturing/3D printing.

“Elementary deficits in our present world provide chain fashions are being exacerbated by escalating obstacles comparable to commerce imbalances and the worldwide pandemic — all resulting in protracted distribution bottlenecks,” CEO Blake Teipel stated in a launch. “In the present day’s announcement represents a serious milestone in our efforts to supply long-term, sustainable options for a brand new manufacturing paradigm that may meet these world challenges head-on.”

We spoke to Teipel again in 2017, when Essentium detailed a plasma-based system that fuses collectively plastic 3D-printed materials because it prints, leading to a stronger object than the standard FDM course of. Essentium additionally makes use of a Excessive Velocity Extrusion course of, one it claims is 5x to 15x quicker than customary extrusion. The corporate’s present shoppers embrace the U.S. DoD, Lockheed Martin and Ford.

The deal is predicted to shut in Q1 2022.