A new and interesting SPAC merger was announced less than a day ago between VELO 3D and Jaws Spitfire Acquisition Corp (NYSE : SPFR)
According to Bloomberg, the merger is yet to be official and FDGT is giving this info very early as usual. The combined value is set to be at $1 billion at the current time although this is not an official number yet. Representatives for Velo3D and Jaws declined to comment so far.
Velo 3D has raised funding from investors such as Piva, the venture capital investment arm of Malaysia’s Petronas and others and is expected to reach profitability by 2022 with this funding.
Velo 3D is a metal 3d metal printing company based in California and the founder and CEO is Benny Buller.
Velo 3D uses high-quality assured production parts with a metal 3d Sapphire printer that is operated in one click after the design of the object is finalized on the computer software.
The 3d printing machines have very high capabilities and can monitor production layer by layer in real-time. The machines also have a live feed that reports the health of the machine and helps ensure all parts and lasers are fully calibrated.
Velo 3D has been named the Fast Company’s prestigious annual list of the world’s most innovative manufacturing companies of 2021. The company was chosen among the top-ranked manufacturing category for making a huge impact on the 3D printing industry.
The Velo 3D printers give an industry edge in many ways and enable full-scale object printing with the ability to manufacture items on demand and not by pre-order quantity as the industry standard is at the moment. The preprinting software ensures a free-range supply chain and identical printing instructions across any 3d metal printer worldwide by sending the print file from one location to another.
The printers also enable the freedom to design any object and calibrate the printer to the object with a push of a button – meaning you will not need to do quality assurance on each part as it will be completely identical all the time. While the printing is made there is a layer-by-layer quality validation system that produces extensive control charts.
Just to explain the importance of freedom in the design of metal we would bring up this case: “the Sierra Turbines part shown here, as-printed, without any post-processing. Sierra Turbines identified that they wanted to use additive manufacturing from the start but were told that they would have to redesign the part to have no overhangs less than 45-degrees from horizontal for it to be printable. Such a redesign would have negated much of the optimized performance that they were trying to accomplish. The VELO3D AM Solution was the only platform they found that didn’t require them to redesign their part for it to be printed.”
The case quoted above from Velo 3D shows how the 3D Sapphire metal printers allow the free transformation of objects designs without the need to re-engineer the part and its mechanics, this advantage is giving Velo 3D a huge advantage in the metal production industry and enables them to get contracts from the smallest to the biggest manufacturers worldwide.
On March 9th, 2021 (the day this article is written) Velo 3D has secured a new contract with Chromalloy, a manufacturing and repair solutions provider for gas turbine engine manufacturers and operators worldwide. Chromalloy is installing the Velo 3D Sapphire printer in its manufacturing and repair services environment. “Chromalloy continues to seek innovative alternatives for our customers to extend the life of their engines and reduce their MRO costs,” says John Green, Vice President of Chromalloy.
Disclaimer – I/we have no position in any stock mentioned. I wrote this article myself, and it expresses my personal opinions. I am not receiving any compensation for it, other than FDGT Academy. I do not have or had in the past any business relationship with any company that is mentioned in the above article.
I am a stock analyst/investor with prior experience and knowledge to BSc Accounting and Finance. After completing my degree and exposure to the accounting firms I decided that the direction I should choose is towards the Investment world. I completed my masters in Investment Management where it gave me solid fundamentals to build my career on. I have examined a lot of different aspects of investment, from REITS, derivatives, currencies, bonds, equity and hedge funds. I never stopped learning about the market which is why I can analyze and write articles for FDGT community always personally opinionated. My passion are green energy and electric vehicles stocks as a whole. I also had my share of analyzing the work form home stocks that are coming to take over in the upcoming years.
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