On April 22, 2020, Equispheres, an Ottawa-based materials science innovation company in Canada Alloy research and development) announced that they have completed the B round of investment, the total amount of 30 million US dollars (approximately 210 million yuan), the valuation has not been disclosed. This round of financing was led by HG Ventures, an investor in advanced materials and sustainable technology, the Canadian Sustainable Development Technology Association (SDTC), Canadian entrepreneurs ’bank BDC and other undisclosed investors.
The company received a $ 5 million investment from Lockheed Martin in 2018 to develop and design high-strength metal materials such as Inconel, steel, and cobalt-chromium alloy powder. The development of its atomization technology will help solve the problems of low production efficiency and raw material quality that have always existed in metal additive manufacturing.
In the past one or two years, China's metal 3D printing powder materials companies have also received investments ranging from tens of millions to hundreds of millions of yuan.
The advanced manufacturing technology of metal 3D printing is changing the design and supply chain of complex parts in the aerospace and automotive industries, and spherical metal powder is an important foundation. But until now, due to the inconsistency of powder properties, the design strength of powder and parts performance are poor. Equispheres has developed powders with excellent characteristics and features that enable engineers to produce stronger and lighter parts with less material and greatly improve performance:
· Excellent fluidity and ductility: In powder bed metal 3D printing, round and smooth particles move more freely than irregularly shaped particles, which are undesirable in standard atomized powder The microscopic fineness (ø: 0.1-5μm), which tends to agglomerate and prevent uniform layer deposition. Equispheres' powder is spherical, free of agglomeration and fine powder, and rolls smoothly under the powder bed blade / roller, thereby greatly improving spreadability. Result: The final product has excellent surface finish and better mechanical properties.
· Higher bulk density and smear density. Irregular particles and "fine particles" affect the bulk density. Equispheres 'powders are denser and more uniform than competitors' powders. Due to the high fluidity of Equispheres' powder, the density (ie, diffusion density) achieved in the "real" powder bed is actually the same as the "knock" density obtained in the laboratory, 30% higher than the competitive powder. This can produce dense parts with smoother surfaces.
· Thin oxide layer and less water absorption. A common problem with metal powders is the thickness of the oxide layer. Although a thicker oxide layer will result in poorer mechanical properties of the final part, powder with a thinner oxide layer tends to absorb water, which also has a negative impact on the performance of the part. Equispheres' powder has both a thin oxide layer and low water absorption-this is a direct result of our powder's superior morphology. Independent laboratory tests at McGill University have shown that Equispheres' powder has an oxide layer thickness half that of its competitors, but only a third of the water absorption. The result is reduced powder preparation before printing and improved product performance.
· The melting and solidification of each layer are more uniform. Equispheres' new atomization process is strictly controlled and produces very fine microstructures with uniform particle sizes. Competing powders include particles of various sizes. When the powder is melted by the laser used in additive manufacturing, the smaller particles cool faster than the larger particles, resulting in an inconsistent microstructure. Equispheres' powder melts and solidifies uniformly and predictably. The result is consistent and superior mechanical properties in the final product.
Equispheres unique chemical composition and alloys optimize the results of specific applications. These metallurgical experts can also provide engineering services for alloy development. In addition, the engineering team has a deep understanding of the powder's performance during storage, 3D printing manufacturing, and after printing. This includes rapid solidification in the molten pool, the dynamics of the powder under the roller / blade, and how to recycle it.
Kevin Nicholds, President and CEO of Equispheres, said: "We are very pleased to receive the extraordinary operation of HG Ventures as a partner, their research capabilities and venture capital experience, and to understand the technical and market potential of our products throughout the transportation industry It is an ideal partner. We are also very grateful for the support of the Canadian government, allowing us to use investor financing to achieve our goals and provide the market with the high-quality products we need. "
This round of financing includes a US $ 10 million equity investment from HG Ventures, a US $ 8 million grant from SDTC, a US $ 5 million sub-finance from BDC (previously announced that, if this financing is eligible, it has now been released) and another $ 7 million in undisclosed funds. Earlier, Equispheres announced a $ 8 million sponsorship from SDTC in a press release issued on January 15, 2020. Equispheres is one of 14 Canadian cleantech companies that have received strategic investment support from SDTC, and aims to "make Canada a global leader in innovation" and create jobs.
This new round of funding will mainly be used to expand production capacity and promote research and development work with industry strategic partners. Specifically, the areas they will focus on are:
· Improve the reactor to achieve higher output and lower cost production.
· Accelerate the progress of R & D projects with strategic partners in the automotive, aerospace, aerospace and defense industries.
· Hire and cultivate talents to create high-quality jobs.
· Develop application support services for the automotive, aerospace, and defense industries, using materials developed by Equispheres to promote advanced manufacturing opportunities.
In 2019, Equispheres released two important reports of its unique metal powder test results. One of the reports outlined how their powders performed well in aerospace quality testing of metal 3D printing manufacturing. Another report showed that they successfully developed an aluminum alloy powder suitable for binder jet 3D printing. It was impossible before. With new funding, further testing is underway and more important results will emerge.
According to an analysis report by SmarTech Analysis, the global metal 3D printing market reached US $ 3.3 billion in 2019, including 3D printing equipment, materials and services, and is expected to reach US $ 11 billion by 2024. As the upstream industry of metal 3D printing, metal powder materials ushered in the best development opportunities. The metal 3D printing industry will inevitably continue to grow rapidly in the coming decades, and the demand for metal powder materials will continue to rise.