The company, whose stated goal is to make metal and carbon fiber 3D printing accessible to all engineers, designers, and manufacturers, plans to become publicly listed through a business combination with "blank check" company Trine Acquisition. The move, says the company, is aimed at accelerating its growth trajectory within the rapidly growing additive manufacturing market and capitalizing on the strong secular tailwinds supporting the reshoring of manufacturing and supply chain flexibility.
According to reports, the additive manufacturing industry grew at a 20% annual compound rate between 2006 and 2016 before accelerating to 25% compound annual growth over the last three years - a rate that is expected to continue over the next decade as the market surges from $12 billion in 2019 to an estimated $146 billion in 2030. This market inflection, says the company, is being driven by a shift in applications from design prototyping and tooling to mass production of end-use parts, enabled by the emergence of what it refers to as "Additive Manufacturing 2.0" - a wave of next-generation additive manufacturing technologies that unlock throughput, repeatability, and competitive part costs.
These solutions, says the company, feature key innovations across printers, materials, and software and pull additive manufacturing into direct competition with conventional processes used to manufacture $12 trillion in goods annually.
"We are at a major inflection point in the adoption of additive manufacturing, and Desktop Metal is leading the way in this transformation," says Ric Fulop, Co-founder, Chairman & Chief Executive Officer of Desktop Metal. "Our solutions are designed for both massive throughput and ease of use, enabling organizations of all sizes to make parts faster, more cost effectively, and with higher levels of complexity and sustainability than ever before. We are energized to make our debut as a publicly traded company and begin our partnership with Trine, which will provide the resources to accelerate our go-to-market efforts and enhance our relentless efforts in R&D."