Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Desktop Metal on Tuesday morning will unveil its 3D metal printing system, which it believes will revolutionize the way metal components are designed and produced for automakers and a variety of other industries. Axios got a sneak peak yesterday:
Opportunity: The Massachusetts-based company estimates that the top ten global manufacturers produce around $1 trillion of metal parts annually, but just $1 billion of that is done via 3D printing. Co-founder and CEO Ric Fulop argues that existing technology is too expensive (machines can cost $1 million), too big (think 1970s computers) and too dangerous (workers often need to wear special breaching apparatus) because of fumes.
Basics: The company is building two different systems:
- Studio: This is for engineers who want to prototype metal parts, and will begin shipping in September. They basically upload the desired designs, insert a cartridge of metal powder (which DM will sell, beginning with around 20 types) and then watch the part get built layer-by-layer. They then put the finished product into a microwave-based furnace box. One big technical advantage over other 3D metal printers is that the "supports" holding the parts in place just essentially disintegrate into sand, rather than need to be unbolted. No personal safety equipment is required, and Desktop Metal will sell either the entire system for $120k or $3,250 per month as a sort of subscription service with no money down (neither charge includes the cost of metal powder cartridges).
- Production system: This one is slated for release in mid-2018, and is basically the mass production printer. The supposed advantages again will be cost (around $360k per machine), speed, size and safety. Plus, parts will be "nested" instead of welded.
Location, location: Desktop Metal is initially building all of its products at its Burlington, Mass. headquarters, but knows it will soon have to outsource production. That said, Fulop wants to keep manufacturing local, saying that Desktop Metal's CTO should be able to drive to the line in case of problems.
DNA: Fulop is the former CEO of lithium battery maker A123, which he helped take public. Other co-founders include Matt Verminski (ex-Kiva Systems, now Amazon Robotics) and MIT professors Ely Sachs and Yet-Ming Chiang. It has raised around $100 million in VC funding from investors like Google Ventures, BMW, General Electric, New Enterprise Associates and Kleiner Perkins.