NEW YORK CITY — January 13, 2020 — Sumitomo Corp. of Americas (SCOA) announced today its investment in Elementum 3D Inc., an additive manufacturing research and development company that specializes in the creation of advanced metals, composites and ceramics. Elementum holds a patent for a metal powder blended with ceramics that enables faster printing speed, stronger mechanical properties and a wider usage of metal grades that have not traditionally been suitable for additive manufacturing. This investment will help expand the marketing and sales of Elementum’s proprietary powder.
“This investment is an excellent complement to our growing portfolio in the additive manufacturing space,” said Kazuaki Tsuda, senior vice president and general manager, Steel and Non-Ferrous Metal Group at SCOA. “Elementum is pioneering new intelligence related to the raw materials supply chain in additive manufacturing, and we see abundant opportunity for these applications in the near future.”
As a global investment and trading company that operates in numerous industries and markets, SCOA believes Elementum’s products have the potential to be utilized across several of the company’s business verticals, including steel, mineral resources, aerospace and tubular. It is plausible that this technology could disrupt the current supply chain altogether, seeing additive manufacturing end-users working directly with Elementum rather than traditional raw materials manufacturers.
“We are excited to have Sumitomo Corporation of Americas come onboard as an investor. It speaks volumes that a company of this size and reach has such confidence in what we are creating,” said Dr. Jacob Nuechterlein, president at Elementum 3D. “With this series A funding, we are eager to get our product further out into the marketplace and continue to grow our client base.”
Elementum is one of several investments made by SCOA in the AM space, which include Sintavia, a leading Tier 1 additive manufacturer for the Aerospace and Oil & Gas industries, AREVO, a 3D printing company using carbon composite materials and Shapeways, a 3D printing service company.
Posted January 13, 2020
Source: Sumitomo Corporation of Americas