Industry Directory - Fast Radius
Digital manufacturing company Fast Radius provides services for the manufacturing industry in four distinct areas: product design and testing, application discovery, global fulfillment, and production-grade manufacturing technology, in addition to prototyping and automation services. The manufacturing solutions provider offers multiple on-demand capabilities, including additive manufacturing—also called 3D printing—injection molding, CNC machining, and urethane casting. The manufacturing company is headquartered in Chicago, which was was named one of the most advanced factories by the World Economic Forum, and has additional facilities in Atlanta, Louisville, and Singapore.
The digital manufacturing company operates the Fast Radius Cloud Manufacturing Platform, which lets users digitally store and order parts to the Virtual Warehouse, and manage the product lifecycle from product development all the way to fulfillment from wherever they are. Micro-factories are what drive this next generation platform, and this was especially helpful during the pandemic, as team members at these micro-factories helped stabilize the supply chain by producing parts closer to home, whether they were made with 3D printers, injection molding, CNC machining, or another manufacturing technology. Fast Radius plans to create the first $100+ billion cloud manufacturing and digital supply chain company, which will certainly help drive capital and environmental growth opportunities.
The company’s manufacturing solutions have been used for a variety of 3D printing applications, such as in the aerospace, medical, and automotive industries. Fast Radius also partnered with Carbon and Rawlings to revolutionize the design of the baseball glove with 3D printing, and worked with Desktop Metal to help other companies discover and launch binder jetting applications.
Fast Radius has four co-founders: CEO Lou Rassey, COO Pat McCusker, Chief Manufacturing Officer John Nanry, and Chief Scientist Bill King; in 2019, Lou Rassey was named to Crain’s Chicago Tech 50 List. In the summer of 2021, just two years after announcing a $48 million Series B funding round led by UPS, Fast Radius became the latest additive manufacturing industry company to go public on Wall Street, via $1.4 billion agreement with special purpose acquisition company (SPAC) ECP Environmental Growth Opportunities (Nasdaq: ENNV), chaired by Doug Kimmelman. ECP, which will likely remain listed on the Nasdaq as ENNV, will be renamed Fast Radius, Inc. once the transaction is closed in Q4 of this year.