An industrial company serving the aerospace & energy markets from North America and an orthopaedic OEM have ordered a feasibility study and proof of concept study of Freemelt's AM technology, respectively.
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.
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.
The machine is thought to be the only AM system on the market capable of printing with brass, and the project aims to improve stability and reliability, with real-time monitoring and corrections, for printing of such complex materials.
Carpenter Additive highlights the need for high-quality powders and a secure, streamlined supply chain in the delivery of additively manufactured components.
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.
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.
The engineering company, which operates across manufacturing, mining and infrastructure industries, has also said it plans to exit its approximate minority stake in Italian 3D printing service provider BEAMIT.
The UK-based engineering company says the new machine is an extension of its flagship RenAM 500 series and aimed at users ‘looking for a lower initial investment, without compromising on part quality.’
