This investment will provide growth and accelerate new market opportunity
MINNEAPOLIS — (BUSINESS WIRE) — June 25, 2020 — Today Evolve Additive Solutions announced continued support by Stanley Black & Decker. In 2017, Evolve raised $19 million in equity funding with Lego Brand Group and Stanley Black & Decker investing in its STEP (Selective Thermoplastic Electrophotographic Process) technology. This additional investment supports Evolve’s vision of expansion into new markets, applications and opportunities.
Evolve’s STEP technology sits alongside traditional manufacturing processes, such as injection molding, on the manufacturing floor and augments an organization’s production capabilities allowing freedom of design and faster time to market with “toolless” production.
“Stanley Black & Decker is excited about the continued relationship. Evolve’s vision in the Additive Manufacturing space enables the company to commercialize this new state-of-the-art technology and provide high quality production parts,” said Larry Harper, VP, Stanley Ventures for Stanley Black & Decker.
This additional investment enables Evolve to further strengthen its brand momentum and capitalize on its position as a new global player in the Additive Manufacturing market.
“Our continued relationship expands our market opportunity,” stated Steve Chillscyzn, CEO and Founder of Evolve. “As a startup organization that is redefining the market, the continued confidence and trust from Stanley gives us proof that there is a strong demand for our technology in the marketplace.”
Evolve’s STEP Technology is expected to begin commercial sales in late 2020.
About Evolve Additive Solutions
Evolve Additive Solution is an organization whose mission is to produce innovative manufacturing solutions that enable customers to manufacture in revolutionary new ways. Evolve is pioneering the manufacturing market with technologies and solutions centered around production applications with real-world thermoplastics. Its revolutionary STEP technology and SVP platform will radically improve manufacturing and enable disruptive new business models for organizations by unlocking the full capabilities of Additive Manufacturing. For company updates, follow Evolve on LinkedIn and Twitter. Evolve Additive Solutions is headquartered in Minnetonka, MN with a materials technology center based in Rochester, NY.
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions, engineered fastening systems, and more. Learn more at www.stanleyblackanddecker.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200625005795/en/
Contact:
Cheryl Hillman, Evolve Additive Solutions,
763-438-6569
cheryl.hillman@evolveadditive.com
