Velo3D Puts Manufacturing Capabilities to Work for Aerospace

Velo3D Puts Manufacturing Capabilities to Work for Aerospace Company

Velo3D’s End-to-End Solution Deployed in Lockheed Martin’s Additive Design & Manufacturing Center

SUNNYVALE, Calif. — (BUSINESS WIRE) — April 13, 2022 — Velo3D, Inc. ( NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, today announced Lockheed Martin ( NYSE: LMT) is using Velo3D’s end-to-end additive manufacturing solution for its Additive Design & Manufacturing Center, which pilots new additive manufacturing technologies for production deployments in Lockheed Martin’s Space division. Velo3D was selected for its advanced quality assurance capabilities made possible through its Assure software, which provides layer-by-layer traceability of machine health, part integrity, and build reporting.

The solution Velo3D has delivered to Lockheed Martin includes a Sapphire printer, Velo3D’s Flow print preparation software, its Assure quality assurance and control software, and its underlying Intelligent Fusion manufacturing process, which optimizes the additive manufacturing process by combining process simulation, geometry-based detection, and build process monitoring during print execution. This end-to-end solution gives customers the confidence that the mission-critical parts printed using Velo3D’s additive manufacturing technology preserve design intent. It also provides customers with the ability to produce identical parts across any Velo3D Sapphire printer, so as production needs increase, customers can merely add additional printers to their production facilities anywhere in the world or utilize Velo3D’s network of contract manufacturers.

“The past few years have uncovered weaknesses in the global supply chain, which is causing many companies to evaluate new technologies to feed production of their mission-critical parts and hardware, and distribute their manufacturing processes,” said Benny Buller, Velo3D CEO and Founder. “An additive manufacturing solution that can print identical parts anywhere you have a printer can not only help solve some very specific, complex challenges in our global supply chain, it can also lower production costs and lead times, and enable the manufacturing of parts in closer proximity to where they are needed.”

The company's latest Sapphire XC system enables higher productivity and lower production costs for Velo3D customers. It also enables the printing of parts that are 600 mm in diameter and up to 550 mm in height—500% larger than the previous Sapphire system.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. For more information, please visit velo3d.com, or follow the company on LinkedIn or Twitter.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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Contact:

Media Contact:
Velo3D
Dan Sorensen
dan.sorensen@velo3d.com

Investor Relations:
Bob Okunski, VP Investor Relations
investors@velo3d.com