WAAM3D receives injection of capital from Accuron to complete its Series A round (Credit: WAAM3D)
UK-based additive manufacturing company WAAM3D Ltd. has completed a Series A funding round with investment from Singapore engineering and technology group Accuron Technologies Ltd. to commercialise its Wire-based AM (WAAM) process.
The company, which spun out of Cranfield University under the leadership of Professor Stewart Williams, is targeting users in industries such as aerospace and energy for the rapid, low-cost production of large metal components.
Professor Williams, Head of the Welding Engineering and Laser Processing Centre at Cranfield University, said: “For more than a decade we have been researching and developing this technology; it is set to have an enormous impact on manufacturing businesses around the world. I’m delighted that we can now really start to commercialise WAAM and bring real world products to market.”
WAAM uses an electric arc or laser to melt metal wire feedstock and produce accurate, cost-effective metal parts layer by layer. WAAM3D says the process offers improved material properties along with reduced emissions, lead times and material consumption.
Tan Kai Hoe, President and CEO of Accuron Technologies, said: “We are really excited about this opportunity to invest into WAAM3D. We have been looking at several additive manufacturing technologies for a while, and we think WAAM3D’s process has a real chance to transform manufacturing. We are very impressed with the company’s technology and expertise, which allows it to make large, high-quality parts for real-world applications. With our capital investment and industrial knowledge, we hope to help the company realise its true potential.”
Speaking about the “huge market potential” for the technology, Dr Filomeno Martina, CEO of WAAM3D, said the company intends to bring on 20 additional staff in the coming year to scale up operations. In addition to this latest injection of funding, WAAM3D has also received support from the Midlands Innovation Commercialisation of Research Accelerator (MICRA).
Cranfield University has been a leader in wire-based AM research over the last 10 years and has secured a number of industry partners. The university is now focussing its efforts on new processes such as NEWAM (New Wire Additive Manufacturing) via industrial projects and grants from the Engineering and Physical Sciences Research Council.
