LEGO and Stanley Black & Decker Invests $19M in Evolve Additive Solutions
News from the 3D printing industry | 5 October 2021
$19 million have been invested in the equity of the proprietary developer of the new 3D printing technology, Selective Thermoplastic Electrophotographic Process (STEP), Evolve Additive Solutions.
STEP is based on the proprietary technology behind most photocopiers and laser printers. The main focus of Evolve Additive Solutions is on the commercialization and industrial application of its STEP 3D printing technology
LEGO Brand Group is the first investor, and the other being Stanley Black & Decker, and a third, undisclosed party.
Per Hjuler, Head of Brand and Business Development at LEGO Brand Group, says,
“The LEGO Group has been using Additive Manufacturing technology for more than 20 years. Today, the company mainly employs the technology to create prototypes in the development of new products and we believe that the technology will become an even more important supplement to the current Injection Moulding capabilities in the future. With Evolve Additive Solutions we have found a very competent partner within this area.”
Tim Hatch, Chief Technology Officer for Stanley Engineered Fasteners, comments, “We are excited about the potential impact that Evolves unique Additive Manufacturing technology could have on the production of high-quality medium volume plastic components for a number of our product categories.”
Steve Chillscyzn, CEO of Evolve Additive Solutions, comments, “Evolve has entered an exciting new growth phase as we begin commercial development of our proprietary STEP technology,”
“We are excited to have forged equity partnerships with world-leading companies that recognize the production potential of STEP and are committed to working alongside Evolve to bring the technology to commercialisation.”
For more information, please read the full article here.