Australian large-scale metal 3D printing start-up AML3D has raised AUS $7 million through firm commitments from investors to accelerate its business development initiatives.
The firm issued 15.5 million shares in the company, which it says were heavily bid upon by both institutional and private investors. AML3D will use the Placement funds to expand its contract manufacturing capacity, enabling it to service more customers.
“We are very pleased with the strong support AML3D has received from new and existing shareholders, who share our vision of deploying advanced, Industry 4.0 manufacturing technologies globally,” said Andrew Sales, AML3D’s managing director.
“The funds raised from this placement will enable AML3D to accelerate and execute its various business development initiatives, which will provide a platform for further growth and continue to establish AML3D as an industry leader.”
Distribution of funds
Anticipating a rise in upcoming demand, AML3D intends to use the funding to increase its production capacity through purchasing and commissioning additional production modules at its Adelaide manufacturing facility. Through this, the company hopes to service a greater number of customers across various sectors with commercial manufacturing contracts.
Once commissioned, the 15,000 square meter contract manufacturing center will house up to seven large-format proprietary Arcemy metal 3D printers, of which AML3D is the original equipment manufacturer (OEM), to meet industry demand for advanced manufacturing with the company’s patented Wire Additive Manufacturing (WAM) technology.
The firm is also looking to increase its workforce by employing engineers, designers, and manufacturing assistants. These extra hands on deck will allow AML3D to significantly scale up its operations as it ramps up production.
The remaining Placement funds will be used as working capital to secure and carry out large contracts with medium-to-long lead-times.
AML3D in 3D printing
In 2014, AML3D commercialized its WAM technology for the defense, maritime, and aerospace sectors, which it claims has a material saving of up to 80% in comparison to traditional casting and forging methods. WAM uses advanced robotics technology to fully automate the 3D printing process, which fuses engineering and metallurgical science to manufacture freeform complex shapes.
AML3D is the first Australian 3D printing firm to receive Lloyd’s Register wire-arc additive manufacturing facility certification, qualifying its products for commercial use, which has led to the company securing key customers in various sectors.
The firm debuted on the Australian Securities Exchange (ASX) earlier this year after raising AUS $9 million through an Initial Public Offering (IPO). Funds from the IPO are being used by AML3D to establish an additional contract manufacturing center in Singapore, in addition to expanding its Adelaide facility and Research and Development (R&D) initiatives.
Most recently, AML3D agreed a contract with global shipbuilding firm Austal to 3D print components for its naval defense applications. AML3D was tasked with optimizing the onboard lifting device found on Austal’s commercial and naval vessels, through its WAM technology.
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Featured image shows AML3D’s 15,000 square meter contract manufacturing center will house up to seven large-format proprietary Arcemy metal 3D printers. Image via AML3D.