SPEE3D has announced a funding partnership with 1941, an Australian security investment fund, as it builds its global business supplying dual-use military technology.
The funding deal links SPEE3D with former Australian Ambassador to the U.S., Joe Hockey, and his 1941 dual-use investment fund, which is jointly owned by Bondi Partners and Ellerston Capital.
This arrangement will see 1941 invest in SPEE3D to help expand its global business supplying metal 3D printers and integrated systems utilising its patented Cold Spray Additive Manufacturing (CSAM) technology, which can swiftly produce mechanical parts for military and industrial applications in the most complex environments.
According to SPEE3D, the CSAM technology is the only in-field 3D printer being used in combat zones for Australia and its allies. SPEE3D currently services the Australian Department of Defence, the U.S. Department of Defense, the U.K. Ministry of Defence, the Japanese Ministry of Defence and the Ukraine Army, among others. A number of units were recently deployed as part of the world’s largest maritime military exercise, Rim of the Pacific (RIMPAC) exercise, at the Marine Corps Air Station in Kaneohe Bay in Hawaii.
“Our partnership with 1941 will help us to grow quickly and meet the growing global demand for our technology,” SPEE3D Chief Executive, Byron Kennedy, said. “1941 and Bondi Partners have extensive military ties with the U.S. military and other allied nations and our partnership aims to build on this great Australian success story.”
Anthony Lazzoppina, Partner and Australian CEO of Bondi Partners, added: “We are excited to be partnering with SPEE3D to help expedite its global growth plans. This Australian-founded advanced manufacturing technology is incredibly important in a world where secure supply chains and interoperability are of upmost importance. We look forward to supporting SPEE3D using our unique expertise and deep networks as the business continues to expand into the U.S. and beyond.”
