The new product has been built off the success of the company’s S300X – LIQ21 | LIQ11 elastomer 3D printer and its modular multi-material S600D system.
A Form 8-K document date October 9, 2024 and signed by CEO Brad Kreger on October 11, 2024 states that the company has commenced an additional workforce reduction plan, with approximately 32% of the company's workforce to be affected.
Formlabs has launched the large-format Form 4L and Form 4BL 3D printing systems, while giving users the freedom and flexibility to explore the printing of third-party materials via the Developer Platform.
With this additional capital, the company hopes to accelerate these developments to meet the ‘timelines of customers who are eager to adopt this cutting-edge technology.’
Acuity is said to have moved to invest in the technology to ensure a vertical integration of manufacturing processes, helping the company to gain better control of cost, lead times and quality.
Users of the RenAM 500 series of machines will now be able to process pure copper, H13 tool steel, Hastelloy X alloy, super-duplex stainless steel and AlSi7Mg aluminium alloy, opening up a range of new applications.
The vote was held at a special meeting of Desktop Metal shareholders, with 96% of the total shares participating in the vote being cast in favour of the acquisition.
Chung has been appointed in line with the company's growth initiatives for 2024 and beyond, and will be responsible for driving its financial strategy.
