{"id":131338,"date":"2024-04-24T10:00:03","date_gmt":"2024-04-24T14:00:03","guid":{"rendered":"https:\/\/www.newswire.com\/news\/equispheres-secures-20-million-investment-round-22307027"},"modified":"2024-04-24T10:00:03","modified_gmt":"2024-04-24T14:00:03","slug":"equispheres-secures-20-million-investment-round","status":"publish","type":"post","link":"https:\/\/v2fr5er78d.funnewsdaily.com\/uncategorized\/equispheres-secures-20-million-investment-round\/","title":{"rendered":"Equispheres Secures $20 Million Investment Round"},"content":{"rendered":"\n\n Breakthroughs in additive manufacturing production speeds spark soaring demand and rapid expansion.<\/b>\n

\n \n
\"Equispheres
Equispheres logo - 3D printed in aluminum with additive manufacturing<\/b><\/small> <\/a>
Equispheres logo - 3D printed in aluminum with additive manufacturing<\/small>

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\n OTTAWA, Ontario, April 24, 2024 (Newswire.com)\n -\n <\/strong>Equispheres Inc.<\/a> announces it has completed an initial close on its Series B financing totaling approximately C$20 million. The financing was led by global automotive leader, Martinrea International Inc., with participation from new institutional investors. The financing will remain open until June 30, 2024.<\/p>

Equispheres enables the true potential of industrial additive manufacturing with its innovative atomization technology for metal powders. For instance, Equispheres Aluminum powders increase printing speeds up to nine times higher than industry standards, thereby lowering production costs by up to 80%. Equispheres further supports industrial adoption by improving the mechanical properties of printed parts while increasing energy efficiency, reusability, and safety of metal additive manufacturing.<\/p>

\u201cThe potential of additive manufacturing to transform traditional manufacturing is undeniable as evidenced by the fact that most of the top companies in the automotive, aerospace and defense sectors are actively engaged. Yet widespread industrial adoption requires a leap in productivity,\u201d said Kevin Nicholds, President and CEO of Equispheres. \u201cBy working closely with global leaders in automotive, aerospace and defense, we have been able to use our technology to engineer materials that unlock new high-speed additive manufacturing processes and new applications.\u201d<\/p>

\u201cWe believe our path to success lies in partnering with our customers to reduce the overall cost of additive manufacturing,\u201d said Nicholds. \u201cThis will lead to tremendous growth potential, where metal powders will be the largest part of the value chain,\u201d noting that the global casting market for aluminum alone is approximately C$100 billion annually.<\/p>

Funding will be used to bring on multiple new reactors in 2024 to support existing production programs, expand facilities and continue to expand collaboration on new materials with strategic partners.<\/strong><\/i><\/p><\/blockquote>

\u201cEquispheres\u2019 continuing track record for driving performance improvements with additive manufacturing is truly impressive, opening doors to a wide variety of new and exciting higher-volume applications,\u201d said Pat D\u2019Eramo, Chief Executive Officer of Martinrea International.<\/p>

\u201cMartinrea is the ideal lead investor for our Series B financing,\u201d Nicholds said. \u201cNot only are they a highly successful global automotive leader who are experts in lightweighting of aluminum components, but they are also an innovative thought leader with a great culture. We can learn a lot from Martinrea on our journey to be the leader in what is forecast to be a multi-billion materials market for additive manufacturing.\u201d<\/p>

\u201cWe are also grateful to have the continued support of Business Development Bank of Canada and Sustainable Development Technology Canada at this critical growth stage,\u201d he added.<\/p>

INFOR Financial Inc. and Stifel Nicolaus Canada Inc. acted as financial advisors, and McCarthy T\u00e9trault LLP acted as legal counsel to Equispheres in connection with the financing.<\/p>

\u2014<\/p>

About Equispheres:<\/strong><\/p>

Equispheres<\/a> develops breakthrough technologies for the production and use of advanced materials in additive manufacturing. Leveraging our unique technology and process expertise, we are dedicated to enabling the industrialization of additive manufacturing for the automotive, aerospace and defense industries. By improving the performance and lowering the cost of industrial 3D printing, we empower innovation. Photos for use by the media are available on the Equispheres media page<\/a>.<\/p>

About Martinrea<\/strong><\/p>

Martinrea International Inc. is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea operates in 56 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa and Japan. Martinrea\u2019s vision is making lives better by being the best supplier we can be in the products we make and the services we provide. For more information on Martinrea, visit www.martinrea.com<\/a><\/p>

About Sustainable Development Technology Canada<\/strong><\/p>

Sustainable Development Technology Canada is a foundation created by the Government of Canada to advance clean technology innovation in Canada by funding and supporting small and medium-sized enterprises developing and demonstrating clean technology solutions.<\/p>

About Business Development Bank of Canada<\/strong><\/p>

The Business Development Bank of Canada is a partner of choice for all Canadian entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Its investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the country\u2019s most innovative firms. They are one of Canada\u2019s Top 100 Employers and Canada\u2019s Best Diversity Employers.<\/p>

Follow us:<\/strong><\/p>

Facebook: Equispheres<\/a>
X\/Twitter: @equispheres<\/a>
LinkedIn: https:\/\/www.linkedin.com\/company\/equispheres<\/a><\/p>\n \n Contact Information:<\/strong>\n\n
\n\n Shawna Tregunna
\n\n Director of Marketing
\n \n shawna.tregunna@equispheres.com<\/a>\n
\n \n +1 613-899-8485
\n \n\n \n \n \n \n

\n Original Source:\n \n Equispheres Secures $20 Million Investment Round <\/a>\n\n \n \n ","protected":false},"excerpt":{"rendered":"

Breakthroughs in additive manufacturing production speeds spark soaring demand and rapid expansion.<\/p>\n

Equispheres logo – 3D printed in aluminum with …<\/p>\n","protected":false},"author":1,"featured_media":131339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-131338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t