Additive manufacturing leader continues mission to transform the $12T manufacturing industry
WATERTOWN, Mass., Nov. 06, 2018
The keys to unlocking massive adoption of additive manufacturing (AM) are cost and material selection. Markforged offers machines at a fraction of the price of both traditional manufacturing and existing metal 3D printers, and early customers are already saving hundreds of thousands of dollars per part. Shipping only since March, the company's shipments now represent almost 10% of a 20 year old market. With the Metal X, Markforged is now enabling large scale manufacturers to 3D print functional prototypes, tools and fixtures, injection molds, and even end-use parts - all in metal, a material they already use every day.
With low cost and quick installation, the powerful and safe-to-operate Metal X system is enabling engineers and manufacturing professionals to address their business needs:
- Accelerate time to market for new innovative hardware by rapidly decreasing iteration cycles of traditional product development.
- Reduce the need for carrying low-turn inventory by printing aftermarket parts on-demand.
- Simplify logistics and reduce shipping costs by sending part designs directly to printers, whether they're next door or across the world.
- Adjust production seamlessly, dynamically, and according to demand, simply switching from part to part in the same platform.
The proliferation of Markforged printers is even creating new manufacturing business models. Re3DTech is a Chicago-area 3D printing service bureau founded in 2016. Founders Russell Beck and Jim Teuber believed in the massive potential of 3D printing, and set up a facility to print parts for interested manufacturers. Thanks to Markforged metal (and composite) printers, their shop now serves hundreds of customers, from global manufacturers to local small business.
"Markforged - especially the Metal X - accelerated our ability to serve a higher level of the industry," said Beck. "We're educating more and more companies everyday on the power of additive. Customers can see the performance of the machines in an actual manufacturing environment and it's incredible to watch them hold a Markforged-printed part for the first time. With Markforged, we nearly always exceed their expectations, and we don't need hazmat suits or a million-dollar machine to do it."
"Demand for affordable, strong, and safe metal 3D printing has never been greater," said Greg Mark, CEO and founder of Markforged. "Markforged is drastically reducing the barriers to entry and opening up additive to more and more businesses every day. We can't wait to see what 2019 has in store."
About Markforged
Markforged transforms manufacturing with the most affordable 3D printers capable of producing parts tough enough for the factory floor. Engineers, designers, and manufacturing professionals all over the world rely on Markforged metal and composite printers for tooling, fixtures, functional prototyping, and high-value end-use production. Founded in 2013 and based in Watertown, MA, Markforged has over 200 employees globally, with $57 million in both strategic and venture capital. Markforged was recently selected by Forbes as one of the Next Billion Dollar startups. To learn more about Markforged, please visit https://markforged.com.
Markforged
markforged@highwirepr.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8de474ba-9270-48d9-b360-06f24ff13145.
