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3D printing company Essentium to go public via SPAC – TechCrunch

The world of additive manufacturing is not immune to the PSPC craze. Desktop Metal, Shapeways, Markforged, and Velo3D have all either completed or announced plans to make the process public. Austin-based Essentium this week underscored plans to add its name to the growing list, through a reverse merger with Atlantic Coastal Acquisition Corporation.

The deal would value the combined companies at $ 974 million, including $ 345 million in cash, courtesy of Atlantic Coastal. Essentium cites current supply chain issues as a motivator in the growing interest in additive manufacturing / 3D printing.

“The fundamental deficits of our existing global supply chain models are exacerbated by escalating obstacles such as trade imbalances and the global pandemic – all resulting in prolonged bottlenecks in distribution,” said CEO Blake Teipel in a press release. “Today’s announcement represents an important milestone in our efforts to provide long-term, sustainable solutions for a new manufacturing paradigm that can meet these global challenges head-on. “

We spoke to Teipel in 2017, when Essentium detailed a plasma-based system that fuses the 3D printed plastic material during printing, resulting in a more solid object than the traditional FDM process. Essentium also uses a high speed extrusion process, which it says is 5x to 15x faster than standard extrusion. The company’s existing customers include the US DoD, Lockheed Martin and Ford.

The transaction is expected to close in the first quarter of 2022.

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