Additive manufacturing service provider Sintavia has announced that it received a direct equity investment from Lockheed Martin Corporation.
Sintavia received financial advice from RBC Capital Markets, LLC, and legal counsel from Alvarez & Diaz-Silveira LLP for the transaction. Lockheed Martin’s investment helped it acquire an 18% ownership stake in the company, valued at $20 million.
“This investment not only cements the relationship between Lockheed Martin and Sintavia, but also demonstrates the fact that Sintavia’s thermodynamic components optimized through additive technology are sought after by the largest and most substantial prime integrators within the aerospace & defense industry,” said Brian Neff, Sintavia’s Founder, and CEO. “Lockheed Martin represents the very best of these, and we are honored to have their backing as we continue to grow and expand our product line.”
Collaborative journey to explore metal additive manufacturing
Sintavia and Lockheed Martin have been working together for an extended period to explore the potential of metal AM as a substitute for conventional design and manufacturing methods. In December 2022, the two companies announced a Joint Development Agreement aligned with the White House initiative “AM Forward,” launched by President Joe Biden in May 2022. The goal of AM Forward is to strengthen U.S. supply chains by supporting the adoption and deployment of AM technologies by U.S.-based suppliers. This collaboration between Sintavia and Lockheed Martin aims to investigate various areas related to AM technology and its applications.
Starting in 2019, Sintavia served as a component supplier to Lockheed Martin, maintaining supply relationships across all four business areas of the company. These components play an important role in supporting significant Lockheed Martin programs, including the F-35 and F-22. The investment proceeds will be allocated towards ongoing development and testing efforts at Sintavia, ensuring continued advancement in its capabilities.
Boosting the additive manufacturing sector with investments
Sports car manufacturer Porsche made a strategic investment in 3D printer manufacturer INTAMSYS to explore additional avenues for the development and deployment of additive manufacturing technology within the automotive sector. The exact amount invested by Porsche’s investment arm, Porsche Ventures, was undisclosed, but the car manufacturer expressed its view that 3D printing is an “integral part” of future digital manufacturing technology, deserving of long-term and continuous input. With this investment, Porsche sought to digitize and enhance its product manufacturing process and expand the application of AM technologies within the luxury car industry.
Precision ADM, an additive manufacturing service provider, experienced an infusion of private investments from two esteemed veterans in the 3D printing industry. Andy Christensen, the Founder And Former President of a company that was later acquired by 3D Systems, and Joe Allison, Co-Founder of a business that merged with Stratasys Direct Manufacturing, each made substantial capital contributions. These investments played a pivotal role in advancing Precision ADM’s aggressive growth strategy in the medical and aerospace sectors, propelling the company’s expansion and position in the market. Martin Petrak, CEO of Precision ADM, said, “I am very grateful to Andy and Joe for their investment and their confidence in Precision ADM as they are both true additive manufacturing pioneers in the medical and aerospace industries over the last 25 years.”
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Featured image shows Sintavia receives investment from Lockheed Martin. Image via Sintavia.
