Sumitomo Corporation of Americas, the largest subsidiary of Japanese conglomerate Sumitomo Corporation, has increased its investment in Sintavia, an additive manufacturing service provider focused on high-performance aerospace components. The duo jointly announced that the agreement, which is a follow-on from Sumitomo’s initial investment back in 2018, will ultimately be used to accelerate Sintavia’s “rapidly growing business” dealing with high profile aerospace companies.
Brian Neff, Sintavia’s CEO and Managing Partner of Neff Capital Management, Sintavia’s majority owner, states: “We truly value Sumitomo as a long-term partner for Sintavia and are excited to expand our existing relationship. With this investment, we are further aligning ourselves with a global thought leader in additive manufacturing that is committed to supporting our continued growth.”
Advancements in aerospace
The funding from the deal will primarily be used to help Sintavia scale up its production capacity. An advance in the company’s technical capabilities will also aid in the 3D printing of flight-critical components. On top of the financial investment, Sumitomo will help Sintavia identify opportunities to apply its 3D printing technology towards a wider range of industrial applications.
Kevin Hyuga, General Manager of SCOA, explains: “Since our initial investment in 2018, we’ve been impressed by Sintavia’s leadership and growth in such a short time, We see continued synergies in the future through this partnership, and look forward to continuing to help Sintavia support the Aerospace and Space industry.”
The Japanese conglomerate has also expressed thoughts about Sintavia’s sustainability goals, stating they are “well-aligned”. Sumitomo believes that Sintavia, through its technology, is capable of reducing waste while allowing end-stage products to fly lighter, ultimately leading to a reduction in greenhouse gases.
The terms of the deal remain undisclosed for the moment but the transaction is expected to close sometime before the end of 2020 following customary regulatory review.
Sumitomo’s additive manufacturing investments
Sumitomo’s investment in Sintavia is one of many in the additive manufacturing field. Earlier this year, the conglomerate also invested in 3D printing materials developer Elementum 3D. Elementum has since been using the capital to further market and sell its proprietary metal powder, which incorporates ceramics to enable improved additive manufacturing performance.
In 2017, Sumitomo Heavy Industries, the heavy machinery arm of Sumitomo Corporation, outright acquired spray-form metal 3D printing startup Persimmon Technologies for $33M. The major business move served to expand Sumitomo’s product lines and explore new opportunities in the electric hybrid motor field, such as steering and brake parts.
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Featured image shows Brian Neff, Sintavia, (left) and Kevin Hyuga, SCOA, (right). Photo via Sintavia.