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Formlabs Raises $35 Million in Series B Funding, Announces Autodesk Partnership 3D Printer Hardware

Formlabs, the company founded in 2012 by MIT graduates that changed the SLA market forever when it introduced the first low cost SLA system, has raised $35 million in Series B funding. The round came from Foundry Group and Autodesk, as Formlabs also announced plans to collaborate strategically with the global CAD software leader. The investment includes participation from existing investors DFJ Growth, Pitango Venture Capital, and Pascal Cagni, bringing Formlabs’ total investment to date to $55 million. Beside giving yet another demonstration of the ever clearer potential of 3D printing, these newly injected resource will enable Formlabs to scale its operations to meet growing customer demand worldwide, grow R&D efforts, and to extend Formlabs’ reach in the market and ecosystem. “Formlabs’ efforts over the years in introducing new materials and capabilities have defined the category of professional desktop 3D printing, resulting in significant growth for the company along the way,” said Max Lobovsky, co-founder and CEO of Formlabs. “With the new investment, we’re excited to develop more powerful tools to enable anyone working with 3D content to create remarkable things. Formlabs will continue to grow the stereolithography business and bring new tools to the world to advance our goal of making digital fabrication more powerful and accessible.” Joining Formlabs’ board will be Brad Feld, co-founder of Foundry Group whose investments include MakerBot and Fitbit. Feld has been an early stage investor and entrepreneur for over 20 years and was co-founder of Techstars. “From the moment of its founding, Formlabs saw the opportunity in making professional desktop 3D printing accessible and was a key pioneer in the category,” said Brad Feld, co-founder of Foundry Group. “While the excitement and hype around consumer 3D printing has waned, the professional 3D printing category has had unabated demand, with Formlabs emerging as the leader in desktop 3D printing.” With Autodesk’s investment in Formlabs, the two companies plan to strategically collaborate on software integration and joint marketing initiatives. “Formlabs has brought a lot of innovation and great execution to the desktop 3D printing market, and Autodesk is excited to invest in the company’s future,” said Carl Bass, CEO of Autodesk. “But even more importantly, we’re eager to work together to improve digital design and manufacturing for product designers everywhere.” Pascal Cagni, who was head of Apple in Europe, will be joining as a strategic advisor to help bolster Formlabs’ expansion efforts across the EMEA territory. Through an expanding network of distribution partners, Formlabs’ global reach now extends across five continents in Africa, Asia, Australia, Europe, and North America. With rapid growth across all business fronts, Formlabs has seen 100 percent growth in annual sales for the third consecutive year and is shipping over 1,000 printers a month. Formlabs printers are now the top-selling 3D printers in stereolithography worldwide. Earlier this year, Formlabs acquired Pinshape, the fast-growing 3D printing community online that hosts a flourishing marketplace of 3D designs. Most recently opening a location in Japan, Formlabs now has over 190 employees across offices in North America, Europe, and Asia. About Formlabs Formlabs designs and manufactures powerful and accessible 3D printing systems for engineers, designers, and artists. Their flagship product, the Form 2 3D printer, uses stereolithography (SLA) to create high-resolution physical objects from digital designs. The company was founded in 2012 by a team of engineers and designers from the MIT Media Lab and Center for Bits and Atoms. With its powerful, intuitive, and affordable machines, Formlabs is establishing a new benchmark in professional desktop 3D printing. Formlabs also develops its own suite of high-performance materials for 3D printing, as well as best-in-class 3D printing software. About Foundry Group Foundry Group is a venture capital firm that invests in information technology, Internet, and software startups. It works alongside entrepreneurs to give birth to new technologies and to build those technologies into industry-leading companies. It is located in Boulder, CO but invests in companies across North America. About Autodesk Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.

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Zortrax Confirms Dell Deal Never Happened, Maintains Investors Were Informed 3D Printer Hardware

One of 3D printing’s biggest stories, i.e. the sale of some 5,000 Zortrax M200 machines to Dell Computers in Asia, was recently discovered not to have never actually happened by 3DPrintingBusiness.Directory contributor Mike Molitch-Hou. Now – as reported by 3DPrintingMedia.Network partner 3D Printing Center -Zortrax has responded to Mike, confirming that the Dell deal never actually happened while maintaining that, although the media were not, all investors were fully and timely informed.

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All about 3D printed rhino horn by bioprinting startup Pembient 3D Printing Processes

Sometimes you read news on generalist media about 3D printing and it’s hard to understand whether it is something real or just media hype. Most of the times it is media or social media hype (or inverse hype as in the recent “3D printing is dead” cases) especially when it concerns bioprinting applications. One of the biggest recent stories was the 3D printed rhino horn by a startup specializing in 3D printed wildlife products called Pembient. The idea is just perfect: using bioprinting and 3D printing technologies in order to produce a rhino horn that is sufficiently similar to the real thing that it would drive down the price of it so much that it would make it not worth going out and killing the rhinos for it. But can it really be done or is it just a stunt? Using bioprinting and bioreactors to produce animal products without the animals is the best chance we have (beside the whole world going vegan) to face to upcoming food crisis as well as the ethical and environmental issues that inevitably derive from intensive animal farming. A company called New Harvest has been leasing the bioficial food revolution and while progress is effectively taking place, a real solutions seems still decades away. This does not mean that some projects, such as Pembient’s rhino horn, might not become reality much sooner. Through Ourobotics Jemma Redmond I got in touch with Matthew Markus, the founder and CEO at Pembient to find out just what kind of timeline they expect. The premises are pretty good. As Markus writes in the Pembient white paper “Rhinoceros horn mainly consists of calcium and melanin embedded in a keratin matrix. It is produced by epidermal cells that undergo keratinization in a manner similar to the growth of human hair and nails (Nowell, 2012, p. 6). There are two basic ways to biofabricate rhinoceros horn. The first way involves 3D printing a biodegradable scaffold in the shape of a horn. Next, stem cells taken from a rhinoceros are cultured, differentiated into keratinocytes, and seeded onto the scaffold. Over time, the keratinocytes become filled with keratin protein filaments and die leaving behind a solid object. The second way starts with the production of rhino­specific keratins in genetically engineered microorganisms. Once purified, these keratins are then amalgamated with rhinoceros DNA and other biomolecules into a solid using a proprietary 3D printer. Whatever the process, the intent is the same, namely to produce an artefact that is physically and forensically identical to rhinoceros horn.” So the science and the technology are in the right place. The economics for this project appear to be in the right place as well. “… Suppose a seller can either obtain rhinoceros horn from the wild at $12,000 per kilogram or from a biofab at $8,000 per kilogram,” Markus writes citing a previous 1970 study by Akerlof. “Further suppose – he goes on – the seller can sell the acquired horn at $35,000 per kilogram. In this case, the markup for the wild­sourced horn is 192% versus 338% for the biofab­sourced horn. So, all things being equal, it is in the seller’s interest to sell biofabricated horn. On the other hand, assume a buyer knows there are biofabricated horns on the market. Further assume the buyer estimates that about 75% of the horns being sold are biofabricated. In this case, the expected value of any given horn is $8,750 per kilogram. Thus, it is in the buyer’s interest to either push for a price reduction or not transact at all.” Now the big question. When will this be possible and is it truly feasible from in terms of business model? “So far we have created what I would call “low-fidelity prototypes” using various different technologies either based on liquid resins or ceramics powders, as well as a more tissue-engineering based route whereby we created the biodegradable scaffold and applied the bioinks to it,” Markus said. This was the first approach in order Pembient to assess the market. The goal is to produce the rhino horns with the same exact materials, down to a DNA level, as the real ones, making it virtually impossible to distinguish. The powder Pembient developed contained a mix of keratine along with the ceramics, which represented a first step toward that goal.” “We want to be a commodity supplier, selling in Eastern and Western markets. We want to create a global, open market with significant business development opportunities for bioficial rhino horns. However – Markus points out – this is still far away and will require investments from others who believe in the benefits that it could bring in the long run. “The sad part is that if the rhinos were to become extinct, which is exactly what we would like to avoid, this business would make even more sense as the prices of the remaining horns would go sky high.” “We were really bullish when we first developed the powder and expected to be in the market within a year. This may not be the case but I do think that we could be able to present a valid product within five years at most.” Furthermore, as is the case with other forward looking 3D printing projects, the experience acquired will be used in other applications, especially in many other keratin based animal products that are in demand on the black market. So unfortunately the answer is no, the 3D printed rhino horn is not yet ready to save all the black rhinos as generalist media would have you believe, However the answer is also yes: Pembient is really working toward this goal and has thus acquired significant experience in 3D printing keratin based products. Hopefully they will perfect their method before the last rhino is killed.

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US Navy Marks First Flight with 3D printed, Safety-Critical Parts 3D Printing Processes

Naval Air Systems Command (NAVAIR), a division of the US Navy, marked its first successful flight demonstration of a flight critical aircraft component built using additive manufacturing (AM) techniques, July 29. An MV-22B Osprey completed a test flight outfitted with a titanium, 3-D printed link and fitting assembly for the engine nacelle. This link and fitting assembly is one of four that secure a V-22’s engine nacelle to the primary wing structure and will remain on the aircraft for continued evaluation. The flight was performed using the standard V-22 flight performance envelope. “The flight went great. I never would have known that we had anything different onboard,” said MV-22 Project Officer Maj. Travis Stephenson who piloted the flight. The metal link and fitting assembly for this test event were printed at Naval Air Warfare Center Aircraft Division in Lakehurst, New Jersey. Prior to this flight, multiple V-22 components built by Lakehurst and Penn State Applied Research Laboratory were tested at Patuxent River to validate performance. “The flight today is a great first step toward using AM wherever and whenever we need to. It will revolutionize how we repair our aircraft and develop and field new capabilities – AM is a game changer,” said Liz McMichael, AM Integrated Product Team lead. “In the last 18 months, we’ve started to crack the code on using AM safely. We’ll be working with V-22 to go from this first flight demonstration to a formal configuration change to use these parts on any V-22 aircraft.”

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Tesla and SolarCity to Combine 3D Printing Processes

Just over a month ago, Tesla made a proposal to purchase SolarCity and today we are announcing that the two companies have reached an agreement to combine, creating the world’s only vertically integrated sustainable energy company. Solar and storage are at their best when they’re combined. As one company, Tesla (storage) and SolarCity (solar) can create fully integrated residential, commercial and grid-scale products that improve the way that energy is generated, stored and consumed. Now is the right time to bring our two companies together: Tesla is getting ready to scale our Powerwall and Powerpack stationary storage products and SolarCity is getting ready to offer next-generation differentiated solar solutions. By joining forces, we can operate more efficiently and fully integrate our products, while providing customers with an aesthetically beautiful and simple one-stop solar + storage experience: one installation, one service contract, one phone app. We expect to achieve cost synergies of $150 million in the first full year after closing. We also expect to save customers money by lowering hardware costs, reducing installation costs, improving our manufacturing efficiency and reducing our customer acquisition costs. We will also be able to leverage Tesla’s 190-store retail network and international presence to extend our combined reach. Here are some key terms of today’s announcement: this is an all-stock transaction with an equity value of $2.6 billion based on the 5-day volume-weighted average price of Tesla shares as of July 29, 2016. Under the agreement, SolarCity stockholders will receive 0.110 Tesla common shares per SolarCity share, valuing SolarCity common stock at $25.37 per share based on the 5-day volume weighted average price of Tesla shares as of July 29, 2016. After comprehensive due diligence in consultation with independent financial and legal advisors, the independent members of the Tesla and SolarCity boards of directors approved this transaction. Tesla’s financial advisor was Evercore, and Wachtell, Lipton, Rosen & Katz was its legal advisor. The financial advisor to the special committee of SolarCity’s board of directors was Lazard and its legal advisor was Skadden, Arps, Slate, Meagher & Flom. As part of the agreement, SolarCity has a 45-day period known as a “go-shop”, which runs through September 14, 2016. This means that SolarCity is allowed to solicit alternative proposals during that time. Each company today filed a Form 8-K with the SEC that provides additional details regarding the transaction. While today’s news is a big step, it isn’t the finish line – we expect the transaction to close in the fourth quarter of 2016. Before then, the deal must be approved by a majority of the disinterested shareholders of both Tesla and SolarCity voting at each shareholder meeting. We also need to obtain regulatory approval and meet other closing conditions.

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3D Printed Racecar Heads to Birmingham’s Thinktank Readying for Le Mans 24 Hours 3D Printing Processes

A 450bhp partially 3D printed racecar that competed in the 2015 24 Hours of Le Mans featuring a host of 3D printed parts will be on display at the Thinktank science museum in Birmingham from 28th July for six weeks. The car is a 300 km/h DOME S103 prototype that was fielded by British racing team Strakka Racing at the round the clock Le Mans endurance classic last year.

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Guides to 3D Printing Adoption Released by SmarTech Publishing as New Series of Reports Aimed at Production Management 3D Printing Processes

SmarTech Publishing, the leading industry analyst firm covering the 3D printing/additive manufacturing sector, has just announced the launch of a new series of guides to 3D printing adoption aimed at the needs of production management deploying 3D printing in their businesses. Each of the reports in the “Production Manager’s Complete Guide” series covers a different aspect of 3D printing/additive manufacturing. For example, the first report – which has just been published – is a detailed monograph on 3D printing with metalshttps://www.smartechpublishing.com/end-user-reports/the-production-managers-complete-guide-to, one of the hottest topics in the 3DP community. The next two reports in the series will cover (1) prototyping using today’s low-cost 3D printers and (2) how to select between the many kinds of additive manufacturing technologies that are currently available. SmarTech Publishing’s other monographs in this series will appear at regular intervals and each will cover a different topic, each of vital importance to production managers who are contemplating using 3D printing in some area of their firm.

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SHINING 3D Opens Up to the World at Global Partner Summit 3D Printing Events

Although China is ripe with innovation and affordable products it has been traditionally difficult for Chinese companies to reach global markets, especially for advanced manufacturing technologies. SHINING 3D, a leading manufacturers of 3D scanners and 3D printers based in Hangzhou wants to change this trend through its 2016 SHINING 3D Global Partner Summit, where it will host several experts from around the world to show off its capabilities and discover how to best address oversea manufacturing demands. The event will run along several different 3D printing adoption tracks – in the lucky tradition traced by Materialise’s MWC 2015 and the recent In3Dustry show – and it will takes place on July 27-28, at the new SHINING 3D Headquarters in Hangzhou, China.