In the first quarter of 2017 GE Additive (NYSE:GE) announced that it would be collaborating with GE Capital to expand customer adoption of 3D printing technologies. Since then, the company has provided a total of $20 million in financing to its customers, with the expressed purpose of utilizing metal additive manufacturing machines.
The $1.5 billion investment in additive
To date GE has invested an estimated $1.5 billion in advanced and additive manufacturing, including majority shares in Germany’s Concept Laser, and Arcam AB based in Sweden.
Acquired by GE at the beginning of Q1, Concept Laser GmbH adds patented LaserCUSING® capabilities to the GE Additive portfolio – a method using the power of lasers to fuse successive layers of powdered metals. Sweden’s Arcam AB (STO:ARCM) technology also takes powdered metal feedstock but creates 3D components using its method of electron beam melting.
Critical industries take note
The $20 million in loans from GE so far affect 5 customers in total, each positioned within ‘critical industries’ including automotive and aerospace. Roush Performance, a manufacturer of high performance car parts for street and competitive racing, is one of the named customers GE Additive is helping with its capital.
Dean Massab, Vice President at Roush, comments,
The ability to work with GE Additive through Concept Laser and leverage their expertise in additive manufacturing, combined with the ability of GE Capital to finance the equipment, makes the GE value proposition very compelling to Roush. We see GE Additive as a complete solution that can help our company execute on our additive manufacturing journey.
Featured image: Direct Metal Laser Melting solution from GE Additive. Photo via GE Reports/Chris New