3D printer manufacturer Stratasys has acquired the technology portfolio and Intellectual Property (IP) of carbon fiber 3D printing firm Arevo. This acquisition follows the 3D printing hardware auction of Arevo’s assets, which was held last month.
Initially focusing on commercializing its AQUA 3D printers and manufacturing carbon fiber composite structures, Arevo shifted to full-time production of its 3D printed SuperStrata bikes in 2020. Despite raising $70 million in B Bridge, B1, B2, C, and crowdfunding, the company ceased operations last year, fulfilling 96% of its bike orders.
Arevo’s IP includes patents relating to carbon fiber 3D printing, localized laser melting and roller compaction for Z-strength improvement, AI-powered build monitoring, and hardware design.
This will add to Stratasys’ 2,600 granted and pending patents. The firm claims that the acquisition will expand its ‘addressable manufacturing applications,’ and increase adoption of its FDM 3D printers.
“The technology we’ve acquired allows for increasingly improved isotropy of physical properties in FDM parts, which opens up additional use for customers,” commented Rich Garrity, Stratasys’ Chief Industrial Business Officer.
“This investment continues our commitment to focusing our organic and inorganic innovation on applications and use cases that provide real value to our manufacturing customers, ensuring that Stratasys will continue to be the most relevant and attractive partner moving forward,” added Garrity.
Stratasys acquires Arevo’s assets and IP
Stratasys will leverage the IP to further develop its FDM 3D printing technology, and overcome customer challenges relating to the production of parts with high strength and good isotropy. It is also hoped that the integration of this IP will enable more reliable and consistent build quality, as well as higher 3D printer throughput.
This asset and IP purchase is said to reflect Stratasys’ investment strategy to create value for customers. This includes organic research and development (R&D) and technology acquisitions.
The availability of Arevo’s assets was first made public in January 2024. An email from Silicon Valley Disposition announced the auction of the firm’s ABB IRB 4600 Robots, 3D Printers, Superstrata Urban Bikes, Chillers, and IPG Diode Laser Modules.
Arevo’s SuperStrata bikes were marketed as being the “World’s first custom-fit, unibody bicycle frame 3D-printed in continuous carbon fiber composite.” Launched on crowdfunding site Indiegogo, the company raised $7 million from over four thousand backers.
However, despite this funding and $70 million received from investors such as Khosla Ventures, GGV Capital, In-Q-Tel, and Defy.vc, operations ceased last year. In a February 2023 LinkedIn post, Arevo stated that “our remarkably challenging journey has reached its rewarding conclusion.”
3D printing assets up for sale
The sale of Arevo’s technology and IP reflects a broader trend of asset sales and auctions within the 3D printing industry.
It was announced last month that 3D printing service provider Shapeways auctioned off $5 million of its Desktop Metal 3D printing technology. Taking place between 26-27 February, the auction featured a catalog of metal 3D printing hardware including Desktop Metal P1 Production System 3D printers, Shop System binder jet 3D printers, BMD 3D printers, powder stations, powder blenders, sintering furnaces, and drying ovens.
This is the second such auction from Shapeways, with the company having listed $4 million worth of Desktop Metal 3D printing technology in October 2023. These asset sales reflect recent poor financial results from the company, following the completion of a $605 million SPAC deal with Galileo Acquisition Corp (GLEO) in 2021.
In the firm’s Q3 2023 numbers from November 2023, Shapeways reported revenue of $8.4 million. This was significantly lower than the $150 million revenue the company projected for FY 2023 in 2021.
Elsewhere, back in 2022 product design and manufacturing service provider SyBridge Technologies acquired the assets of bankrupt 3D printing bureau Fast Radius in a deal worth around $15.9 million.
Founded in 2017, Fast Radius signed a $1.4 billion merger with SPAC ECP Environmental Growth Opportunities in July 2021. However, just 16 months later, the company filed for bankruptcy, due to “turbulence in the capital markets which severely hampered the company’s ability to set up the required capital structure.”
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Featured image shows Stratasys’ Headquarters in Rehovot, Isreal. Photo via Stratasys.
