"This investment is an excellent complement to our growing portfolio in the additive manufacturing space," said Mr. Kazuaki Tsuda, Senior Vice President and General Manager, Steel and Non-Ferrous Metal Group at Sumitomo Corporation of Americas. "Elementum is pioneering new intelligence related to the raw materials supply chain in additive manufacturing, and we see abundant opportunity for these applications in the near future."
As a leading global investment and trading company that operates in numerous industries and markets, SCOA believes Elementum's products have the potential to be utilized across several of the company's business verticals, including steel, mineral resources, aerospace and tubular. It is plausible that this technology could disrupt the current supply chain altogether, seeing additive manufacturing end-users working directly with Elementum rather than traditional raw materials manufacturers.
"We are excited to have Sumitomo Corporation of Americas come onboard as an investor. It speaks volumes that a company of this size and reach has such confidence in what we are creating," said Dr. Jacob Nuechterlein, President at Elementum 3D, Inc. "With this series A funding, we are eager to get our product further out into the marketplace and continue to grow our client base."
Elementum is one of several investments made by SCOA in the AM space, which include Sintavia, a leading Tier 1 additive manufacturer for the Aerospace and Oil & Gas industries, AREVO, a 3D printing company using carbon composite materials and Shapeways, a 3D printing service company.
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has 8 offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services. As an integrated business enterprise, Sumitomo Corporation has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide.
The company's core business groups include Metal Products, Transportation & Construction Systems, Infrastructure, Media & Digital, Living Related and Real Estate, and Mineral Resources, Energy, Chemical & Electronics. For more information visit www.sumitomocorp.com
About Elementum 3D, Inc.
Elementum 3D specializes in materials and process development and the creation of advanced metal alloys and metal ceramic composites. Elementum 3D has developed and patented their reactive additive manufacturing (RAM) materials technology that enables printing of high-performance materials that were not previously possible. The company has a number of novel feedstock powders with printing parameters available for purchase and excel in development of custom materials tailored for an application. Elementum3D provides the materials freedom to help companies around the world in their quest to increase product strength, durability, and performance while reducing weight and cost.
For more information, visit www.elementum3d.com
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SOURCE Sumitomo Corporation of Americas
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| Company Name: Sumitomo Corporation of Americas, Elementum 3D, Inc.
Ms. Jewelle Yamada, Phone: 212-207-0574, Mobile: 646-584-9556, Email: Email Contact Ms. Amy Babcock, Phone: 212-207-0567, Email: Email Contact Web: http://www.sumitomocorp.com |
