Equispheres Secures $20 Million Investment Round For Industrial Additive Manufacturing

Equispheres Inc., a pioneer in the field of industrial additive manufacturing, has recently announced the initial close of its Series B financing round, amassing approximately C$20 million. This significant financial milestone was led by Martinrea International Inc., a global leader in automotive manufacturing, alongside contributions from new institutional investors. The funding round is set to remain open until June 30, 2024, signaling ongoing opportunities for investment.

The Ottawa-based company is renowned for its innovative atomization technology that produces high-quality metal powders, designed to enhance the capabilities of additive manufacturing. Equispheres' Aluminum powders, in particular, have been shown to increase printing speeds by up to nine times the industry standard while reducing production costs by as much as 80%. This advancement not only supports the wider adoption of industrial additive manufacturing but also improves the mechanical properties of printed parts, energy efficiency, reusability, and safety.

Kevin Nicholds, President and CEO of Equispheres, emphasized the transformative potential of additive manufacturing in sectors such as automotive, aerospace, and defense. He highlighted the necessity for a productivity leap to achieve widespread industrial adoption. Nicholds stated, "By working closely with global leaders in these sectors, we have been able to use our technology to engineer materials that unlock new high-speed additive manufacturing processes and new applications."

The funds from this financing round will be utilized to bring multiple new reactors online in 2024. These reactors will support existing production programs, allow for facility expansion, and foster continued collaboration on new materials with strategic partners. Pat D’Eramo, CEO of Martinrea International, praised Equispheres' track record in driving performance improvements in additive manufacturing, which opens up numerous high-volume application possibilities.

Nicholds also acknowledged the ideal partnership with Martinrea International for their Series B financing. He lauded Martinrea's expertise in lightweighting aluminum components and their innovative leadership within the global automotive industry. Additionally, Nicholds expressed gratitude towards the Business Development Bank of Canada and Sustainable Development Technology Canada for their continued support during this critical growth phase.

INFOR Financial Inc. and Stifel Nicolaus Canada Inc. served as financial advisors for this transaction, with McCarthy Tétrault LLP providing legal counsel to Equispheres.

Equispheres is dedicated to advancing the industrialization of additive manufacturing across the automotive, aerospace, and defense industries through its unique technology and process expertise. The company's mission is to enhance the performance and reduce the cost of industrial 3D printing, thereby fostering innovation.

Martinrea International Inc. specializes in the development and production of metal parts, assemblies, fluid management systems, and complex aluminum products primarily for the automotive sector. With operations across multiple countries including Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa, and Japan, Martinrea is committed to improving lives through its products and services.

About Sustainable Development Technology Canada

Sustainable Development Technology Canada supports clean technology innovation by funding small and medium-sized enterprises developing clean technology solutions. This foundation was created by the Government of Canada to address some of today's most pressing environmental challenges.

About Business Development Bank of Canada

The Business Development Bank of Canada serves as a key partner for Canadian entrepreneurs seeking financing and advice to grow their businesses. Its investment arm, BDC Capital, provides a range of risk capital solutions to support the country's most innovative firms.