€1.6 million for Laser Metal Deposition pioneer BeAM under new CEO

BeAM Machines, a 3D metal printing startup based in Strasbourg, France, has received a €1.6 million injection of capital from its shareholders. Following this latest announcement, the OEM’s total capital stands at over €8 million.

BeAM has developed a method of directly 3D printing metal parts from CAD files using Laser Metal Deposition and Direct Energy Deposition technologies. The announcement of increased capital follows the appointment of new CEO Vincent Gillet.

The latest in a series of developments

3D Printing Industry first encountered BeAM at IMTS 2016, shortly before it opened a new 20,000 square foot solutions center in Cincinnati, Ohio to house its US subsidiary.

Speaking to then-CEO (now President) during formnext 2016, Emeric d’Arcimoles told 3D Printing Industry that “the best way to invest…money is not into patents but into processes”, signalling BeAM’s focus not on IP protection to shut down competitors but technological innovation to stay ahead of them.

In this spirit, BeAM’s latest technological innovation following its Magic 2.0 3D printer, is its Modulo machine, released earlier this year. The Modulo is capable of 5-axis machining of Directed Energy Deposition (DED), and found one of its first customers in France’s Saint Exupéry Institute of Technology.

Since then, BeAM has been cultivating its partnerships with both educational and business institutions, such as industrial and technological firms such as Safran and Irépa Laser.

New era, same focus

New BeAM CEO Vincent Gillet was appointed in August after a tenure as Business Development General Manager at Luxembourg based-steel giant ArcelorMittal Group. Amongst his priorities were managing the company’s expansion across Europe and the US.

Speaking to Les Echos, Gillet welcomed the €1.6 million capital injection but stated that “the real issue is choosing the right business partner, in a field where everybody is looking for one, be it OEMs, machine resellers, or clients who are incorporating these technologies into their manufacturing process” (translated from French).

This statement appears to be in line with d’Arcimoles approach of open-innovation, since it implies that BeAM will continue to make its technology and processes available to its partners via its Alpha Partnership strategy.

Vincent Gillet, BeAM's new CEO.
Vincent Gillet, BeAM’s new CEO.

BeAM will be at Formnext 2017 from 14-17 November.

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Featured image shows BeAM Machines’ DED technology in action. Image via BeAM.