Desktop Metal Receives $9M 3D Printer Order from German Car Maker

IMTS

Share this Article

Original equipment manufacturer (OEM) Desktop Metal (NYSE: DM) announced that the company has received a $9 million order from a “large German car manufacturer.” Although it is not clear which platform was purchased in particular, DM noted in the press release that the order was for a metal binder jetting system.

According to DM, this is the second platform ordered by the same German company in less than a year, which brings the purchases by said unnamed car manufacturer to a total of $16.9 million during that timeframe. This latest sale was for a platform that will be used in the production of powertrain components for the commercial auto market.

Waterwheel printed on DM platforms, used for BMW engine cooling systems

In the press release announcing the German car manufacturer’s latest purchase, founder and CEO of DM, Ric Fulop, commented, “The additive manufacturing [AM] industry continues to grow for mass production applications…Our team is working with a significant number of global automotive OEMs to expand adoption of our differentiated AM technologies for end-use car components, and this most recent order further demonstrates our customer’s success changing the way they make products and supports Team DM’s vision for [AM] 2.0.”

It is not news that, against the backdrop of a generally dismal 2022 for American equity markets, OEMs in the AM sector have had an especially difficult year. Unsurprisingly, companies such as DM, which went public not long before markets saw their peaks in 2021, have endured the most challenging operating conditions.

In a recent interview with 3DPrint.com’s editor-in-chief, Michael Molitch-Hou, Fulop acknowledged the macro difficulties that all companies have faced this year. Echoing financial analysts’ increasingly pessimistic consensus about the trajectory of the global economy, Fulop cautioned that the unforgiving fiscal environment is likely to continue into 2023.

On the other hand, I’ve noted before that, for the AM sector, there is a silver lining to take away from a rough 2022: any company that survives it will have proven its tenacity and adaptability to investors. As for DM, the European auto market could turn out to be one of the best sectors for an AM hardware firm to have exposure to.

Put simply, no one knows what will happen next year. In this sense, at least for some companies, there is perhaps just as much reason to think that the bleakness of 2022 is a sign that a bottom is being reached, as there is to think that it forebodes a far worse financial climate in the near-term.

Images courtesy of Desktop Metal

Share this Article


Recent News

Liquid Metal 3D Printing Sector Emerges with Fluent Metal’s $5.5M Investment

3DPOD Episode 191: Amy Alexander, 3D Printing at the Mayo Clinic



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3DPOD Episode 190: Generative Design for 3D Printing with Novineer CEO Ali Tamijani

Ali Tamijani, a professor in the Department of Aerospace Engineering at Embry-Riddle Aeronautical University, has an extensive background in composites, tool pathing, and the development of functional 3D printed parts,...

Featured

3DPOD Episode 189: AMUG President Shannon VanDeren

Shannon VanDeren is a consultant in the 3D printing industry, focusing on implementation and integration for her company, Layered Manufacturing and Consulting. For nearly ten years, she has been involved...

3DPOD Episode 188: Clare Difazio of E3D – Growing the Industry, and Growing With the Industry

Clare DiFazio’s journey into the 3D printing industry was serendipitous, yet her involvement at critical moments has significantly influenced the sector. Her position as Head of Marketing & Product Strategy...

Featured

Printing Money Episode 15: 3D Printing Markets & Deals, with AM Research and AMPOWER

Printing Money returns with Episode 15! This month, NewCap Partners‘ Danny Piper is joined by Scott Dunham, Executive Vice President of Research at Additive Manufacturing (AM) Research, and Matthias Schmidt-Lehr,...