Acting as a top provider for industrial 3D printers, ExOne has already successfully produced massive industrial printers and advanced printing materials including a variety of high-grade metal alloys. Their utilization of binder jetting technology and industrial-grade materials has made them a prominent name within the industrial side of 3D printing technology. It seems like the global 3D printer producer will continue to further their expansion within the industry, thanks to a five-year revolving credit agreement with the investment firm of ExOne Chairman and CEO S. Kent Rockwell, RHI Investment.
The new agreement will give ExOne access to $15 million in credit (potentially even $30 million total, if conditions permit), with a plan to use this influx of money to increase the number of industrial printers they provide throughout the world. The main way this loan from RHI will achieve this is by granting ExOne the financial flexibility to give their customers financing options for their machines, making them much easier to afford for industrial manufacturers. Rockwell, who owns about 22 percent of ExOne’s shares, seems to have noticed the rise of prominence his company has taken, as well as the high cost of industrial machines, and is thus providing the necessary funding to increase ExOne’s ability to provide customer support and more 3D printing machines around the world.
“We are responding to increasing opportunities for both machine sales and 3D printed products for customers as we have expanded our platforms and applications,” said Rockwell. “A key benefit of this credit facility is to help ExOne grow its installed machine base through additional machine leasing and to further enhance our working capital position as we transition our emerging business to a profitable, cash generating company.”
Being a big-time shareholder in ExOne, Rockwell has obviously provided his company with lenient interest and pay-back obligations, which is likely to relieve the stress of trying to make a immediate profit from the loan. With over 200 industrial 3D printing machines installed around the globe already, this multi-million dollar loan is preparing ExOne for the next step in expansion, as they hope financing options will help their machines find their way to new consumers.