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#3DExpress: What’s Next For Nexa3D, Nano Dimension & Velo3D?

Published on December 28, 2024 by Julia S.

As the year winds down, the 3D printing world shows no signs of slowing. In this final edition of #3DExpress for the year, we bring you five headlines that captured our attention. The updates are a mixed bag—some promising, others less so. From the ongoing turbulence at Nano Dimension and the challenges faced by Nexa3D to unexpected news from Colibrium Additive, the industry continues to surprise. Plus, don’t miss the story of Arrayed Additive’s move to acquire 95 percent of Velo3D or Axial3D’s notable financial boost. Here’s to ending the week—and the year—strong. Dive in and stay informed with #3DExpress!

Nexa3D Reduces Operation

Nexa3D’s absence from this year’s Formnext did not go unnoticed, sparking widespread speculation about the company’s status. Now, the high-speed 3D printing systems provider has confirmed what many in the additive manufacturing industry had suspected: financial difficulties are forcing the company to scale back operations. While Nexa3D assures that existing customers will still receive services and materials, questions remain about how long this support can be sustained. Despite these challenges, Nexa3D reflects positively on its journey, highlighting its portfolio of approximately 200 patents and over 2,000 successful collaborations as a testament to its innovation and dedication to advancing the technology.

Credit: Nexa3D

Desktop Metal Sues Nano Dimension

Hardly a week goes by without us reporting on Nano Dimension. Now, Desktop Metal, which was supposed to be taken over by Nano Dimension, has sued the company. The lawsuit is based on the allegation that Nano Dimension is failing to make efforts to obtain regulatory approval from CFIUS (Committee on Foreign Investment in the United States) and is therefore in breach of the merger agreement. A court hearing is scheduled for Monday, December 30, 2024. Desktop Metal is calling for the merger to be completed as soon as possible, with a planned completion date of January 2025. It was also announced this week that CEO Yoav Stern will not continue in his role. Julien Lederman has now been appointed interim CEO.

#3DExpress Nano Dimension

Credit: Nano Dimension

Mass Layoffs at Colibrium Additive in Lichtenfels?

Lichtenfels is the Mecca of German 3D printing, as Colibrium Additive (formerly GE Additive) is regarded as a driving force for innovation and new technologies. Now local media are reporting that the company is planning drastic cuts. Between 40 and 48 percent of the workforce will be laid off, meaning that at least 150 redundancies are planned. We do not know what will happen to the company. A company spokesperson told the local newspaper inFranken.de: “Taking into account the current conditions in the additive industry, we are proposing measures to make our business more efficient so that we can best meet the needs of our employees and customers.” The works council explained that the decision was made because of the lack of orders. This is no longer a rarity in the AM sector and we will see how the industry develops in the coming year. For now, a big question mark remains.

#3DExpress Colibrium Additive

Credit: Colibrium Additive

Arrayed Additive Acquires 95 Percent of Velo3D

Since being delisted on the NYSE and entering into an 8 million dollar deal with SpaceX this September, Velo3D has continuously been making headlines. The metal PBF printer manufacturer had a debt for equity exchange of approximately $22.4 million or 81.7% in principal amount of its outstanding senior secured notes, plus about $369 thousand of accrued interest on these notes, held by Arrayed Notes Acquisition Corp. This week, Velo3D announced that this debt will be canceled in exchange for an issuance of 185,151,333 new shares of its common stock, which will go to Arrayed Notes Acquisition Corp. Arrayed Notes Acquisition Corp is a subsidiary of Arrayed Additive, Inc., which specializes in 3D printing magnesium and aluminum alloys. The exchange of stock means that now, Arrayed Additive Inc., will be the majority shareholder of Velo3D, possessing 95 percent of the company’s stock. Additionally, Arun Jeldi, CEO of Arrayed Additive, Inc., will be appointed CEO of Velo3D and as a member of Velo3D’s Board of Directors. The substantial decrease in outstanding senior secured notes significantly reduces Velo3D’s overall debt burden, enabling the company to concentrate more on its operations.

Credit: Velo3D

Axial3D Receives $18.2 Million in Funding

To ensure that this last edition of #3DExpress this year has something positive in store, here is some good news from Axial3D. The company from Northern Ireland has developed an AI-based solution for the medical sector. These algorithms simplify 3D imaging and the development of personalized applications in surgery. An investment of 18.2 million dollars is now set to accelerate the expansion of the technology platform. The investors include Ulster Limited, 57 Stars, Whiterock and Innovate UK. Roger Johnston, CEO of Axial3D, is delighted and emphasizes the added value of the platform for the future of medicine: “Our market-fundamental patented technology platform empowers medical device companies, medical imaging companies, and hospitals to standardize the use of incredibly precise, patient-specific 3D data that transforms their offerings for patients. Our AI technology has the power to impact millions of patients globally across patient-specific applications in robotics, planning and patient-specific device workflows.”

Axial3D #3DExpress

Credit: Axial3D

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