Fortius Metals secures $2 Million Additional Funding to Bring Advanced Metal 3D Printing to the Aerospace and Defense Industry

News provided by

Oct 08, 2024, 11:01 ET

Fortius Metals welcomes new investor Finindus to $5M Seed+ round

LAFAYETTE, Colo., Oct. 8, 2024 /PRNewswire/ -- Fortius Metals, Inc., an innovative metal 3D printing company, is pleased to announce the successful closure of an additional $2 million in their Seed+ funding, bringing the total raised in the financing round to $5 million. This latest funding infusion follows previous investments of $3 million and includes the addition of new strategic investor Finindus, who joined after receiving clearance from the Committee on Foreign Investment in the United States (CFIUS). Previous investors in the round include 412 Venture Fund, AM Ventures, and M7 Holdings. The successful capital raise, despite uncertain venture conditions, underscores the strong confidence in Fortius Metals' innovative approach to wire-based additive manufacturing and its potential to revolutionize the industry.

Fortius Metals is a large format additive manufacturing company that specializes in advanced materials, to help customers develop solutions previously not possible with robotic 3D printing. Fortius Metals' patented technology enables welding and wire additive manufacturing using high-performance metal alloys to meet the rigorous requirements of aerospace and defense customers. Fortius customers and partners include the Army, Navy, Air Force, and NASA, as well as several defense primes and commercial space companies.

"Fortius Metals has received broad interest from customers and this investment helps bring new products to market, such as our proprietary 6061-RAM2 and 7075-RAM2 aluminum welding wires that solves traditional "hot cracking" problems," said Jeff Lints, Fortius CEO. "We are helping our customers print designs using our robotic welding process expertise that were previously impossible. In 2025, the company looks forward to launching new wire alloys with advanced properties like IN625-RAM, 316L-RAM, and 5183-RAM. We are proud to be a Colorado company along with many of our space and defense customers."

The proprietary alloys developed by Fortius Metals offer up to twice the strength of current commercial solutions used in welding and 3D printing. This provides customers with significant advantages in terms of design performance, product quality, and weight reduction. The company also offers robotic welding process expertise and proprietary predictive toolpaths that deliver dimensional accuracy, helping customers bring innovative designs to life with unmatched precision. The additional capital will help to accelerate these developments and enable Fortius to meet the timelines of customers who are eager to adopt this cutting-edge technology.

"Fortius Metals is pushing the boundaries of wire-based additive manufacturing with their unique materials and process expertise. We are excited to support their mission to revolutionize the production of large and complex parts without compromising material performance. This partnership aligns perfectly with our commitment to fostering innovative and sustainable industrial technologies," said Roel Callebaut, Senior Investment Manager at Finindus.

Founded to develop nanostructured metal alloy wires for robotic additive manufacturing, Fortius Metals envisions reshoring the metal manufacturing supply chain while creating high-skilled manufacturing jobs across American factories.

About Fortius Metals

Fortius Metals is a large format additive manufacturing company specializing in new materials. These patented, groundbreaking metal alloys enable stronger, lighter fabrication for customers' products ranging from rockets to electric vehicles. Fortius, headquartered near Boulder, Colorado, was formed in 2021 to commercialize wire-based products for use in robotic welding applications – with enhanced material properties such as 2x strength, improved corrosion resistance, and higher thermal conductivity. Fortius in-house capabilities include wire manufacturing as well as wire arc and wire laser (wire DED) large format 3D printing cells.

www.fortiusmetals.com

About Finindus

Finindus is a Belgium-based venture capital investment company funded by ArcelorMittal and the Flemish Region and is linked to OCAS, a world-class metal research center. Finindus provides early stage and growth financing to innovative companies offering smart and green industrial technologies in the field of materials, sustainable manufacturing and industry 4.0.

Finindus teams up with outstanding entrepreneurial teams and like-minded investors to bring sustainable industrial innovations to full commercial maturity. Finindus invests across Europe, and globally in technology companies at the very core of its expertise and aligned with the strategic interests of its shareholders.

www.finindus.be

Contact:
Jeff Lints
***@fortiusmetals.com

Photos:
https://www.prlog.org/13041865

Press release distributed by PRLog

SOURCE Fortius Metals, Inc.