Technology Archives - Australian Manufacturing https://www.australianmanufacturing.com.au/technology/ Australian Manufacturing News. Events, Resources and Information Wed, 16 Oct 2024 23:54:16 +0000 en-AU hourly 1 https://wordpress.org/?v=6.6.2 https://www.australianmanufacturing.com.au/wp-content/uploads/2017/06/au.png Technology Archives - Australian Manufacturing https://www.australianmanufacturing.com.au/technology/ 32 32 Titanium AM market to expand from $214M in 2023 to $1.4B by 2032, report finds https://www.australianmanufacturing.com.au/titanium-am-market-to-expand-from-214m-in-2023-to-1-4b-by-2032-report-finds/?utm_source=rss&utm_medium=rss&utm_campaign=titanium-am-market-to-expand-from-214m-in-2023-to-1-4b-by-2032-report-finds Wed, 16 Oct 2024 23:54:16 +0000 https://www.australianmanufacturing.com.au/?p=181145 Additive Manufacturing Research (AM Research) has released its latest report, Titanium Powder for Additive Manufacturing in 2024, projecting the market for titanium powders in additive manufacturing (AM) to grow from $214 million in 2023 to $1.4 billion by 2032.

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Additive Manufacturing Research (AM Research) has released its latest report, Titanium Powder for Additive Manufacturing in 2024, projecting the market for titanium powders in additive manufacturing (AM) to grow from $214 million in 2023 to $1.4 billion by 2032.

According to the research organisation, the report offers data on market trends, tracking revenues across industries, regions, and printing technologies. 

It also identifies aerospace and medical sectors as key drivers of titanium powder demand, with additional contributions from jewellery and automotive applications.

According to the report, Powder Bed Fusion (PBF) accounts for the largest share of titanium AM applications, with revenues four times higher than those from Directed Energy Deposition (DED) and twelve times larger than Metal Binder Jetting (MBJ). 

The Bound Metal Deposition (BMD) market remains the smallest segment, estimated at half the size of MBJ.

However, the report forecasts MBJ will see notable growth by 2032, potentially closing the gap with DED.

The study highlights several companies active in the titanium AM market, including AP&C, Tekna, Carpenter, Praxair, Sandvik, 6K Additive, and IperionX. 

It also references manufacturing and technology providers such as GE Additive, EOS, Renishaw, Boeing, Safran, and Zimmer Biomet, among others.

The report, structured in two parts, combines market data with written analysis. It covers metrics such as material shipments, revenues by geographic region, and print technology trends. 

Additionally, it explores the role of Titanium Metal Injection Molding (MIM) within the broader titanium AM market.

The full report, including forecasts and industry insights, is available for purchase on the AM Research website. 

A free sample can also be requested.

For more details, visit: Titanium Powder for Additive Manufacturing in 2024.

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Enhanced safety and efficiency with APS Power 3 Phase & Neutral RCBO https://www.australianmanufacturing.com.au/enhanced-safety-and-efficiency-with-aps-power-3-phase-neutral-rcbo/?utm_source=rss&utm_medium=rss&utm_campaign=enhanced-safety-and-efficiency-with-aps-power-3-phase-neutral-rcbo Wed, 16 Oct 2024 21:00:55 +0000 https://www.australianmanufacturing.com.au/?p=180660 In today's industrial sector, the demand for reliable, efficient, and space-saving electrical solutions is critical, particularly in the challenging environments of Australian industry. 

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Sponsored content for APS Industrial

In today’s industrial sector, the demand for reliable, efficient, and space-saving electrical solutions is critical, particularly in the challenging environments of Australian industry. 

To address these needs, APS Industrial has launched the APS Power 3 Phase and Neutral RCBO, specifically engineered to meet the stringent requirements of Australian applications.

Purpose-built for Australian industry

The APS Power 3 Phase and Neutral RCBO (Residual Current Breaker with Overcurrent) is an addition to the APS DB family of distribution boards. This device has been purpose-built for Australian conditions, incorporating features that enhance both usability and safety. 

The APS Power RCBO is compliant with the Australian/New Zealand Standard AS/NZS 61009.1, demonstrating its alignment with key regulatory requirements for performance and reliability.

Key features and specifications

One of the standout features of the APS Power range is its 10 kA interrupting capacity, which provides robust protection against overcurrent situations. 

This high interrupting capacity is crucial in industrial settings, where the potential for electrical faults can be significant, according to APS. 

Additionally, the Type A RCD tripping characteristic ensures that the device can effectively detect and disconnect in the event of a residual current fault, further enhancing safety.

The APS Power range includes nine models, with current ratings ranging from 6A to 63A, each equipped with C curve overcurrent protection. 

According to APS, this selection allows for versatile applications across different industrial environments, catering to varying load requirements.

Another advantage of this RCBO is its fixed 30 mA residual current sensitivity setting. 

This sensitivity level is considered optimal for ensuring the protection of human life and equipment, particularly in environments where electrical hazards are a concern. 

Coupled with a toggle-free operation, users can expect seamless functionality without the risk of accidental switching.

Compact design for space efficiency

Space constraints are a common challenge in distribution board installations. The APS Power 3 Phase RCBO is designed with this in mind, measuring just 54mm in width. 

This compact design allows for maximum space-saving in distribution boards, making it easier to accommodate multiple devices without compromising on safety or performance.

To further facilitate installation, each RCBO is supplied with a 900 mm long neutral reference lead (in blue). 

For more information on the APS Power 3 Phase and Neutral RCBO, visit apsindustrial.com.au.

The content of this article is based on information supplied by APS Industrial. Please consult a licence and/ or registered professional in this area before making any decisions based on the content of this article.

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Titomic joins DNV’s ProGRAM to standardise additive manufacturing in energy industry https://www.australianmanufacturing.com.au/titomic-joins-dnvs-program-to-standardise-additive-manufacturing-in-energy-industry/?utm_source=rss&utm_medium=rss&utm_campaign=titomic-joins-dnvs-program-to-standardise-additive-manufacturing-in-energy-industry Thu, 10 Oct 2024 07:23:59 +0000 https://www.australianmanufacturing.com.au/?p=180982 Titomic, a global leader in cold spray technology, has been invited to participate in DNV's prestigious Joint Industry Project (JIP), ProGRAM. 

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Titomic, a global leader in cold spray technology, has been invited to participate in DNV’s prestigious Joint Industry Project (JIP), ProGRAM. 

This research and development initiative aims to establish standardised practices for additive manufacturing in the oil and gas sector, the company said in an ASX announcement. 

According to TItomic, the ProGRAM initiative represents a major opportunity for Titomic to advance the commercialisation of its cold spray technology within an industry that has long struggled with challenges such as corrosion, wear, and part failure. 

The collaboration between Titomic and DNV will focus on setting new standards for manufacturing and repairing equipment using cold spray, streamlining specifications for common parts, materials, and specific use cases.

Initial efforts will target qualification standards for manufacturing structural and machine parts from Alloy 625 and subsea components in low-alloy carbon steel. 

The project will also explore using cold spray technology for repair work, helping to make production processes more efficient and sustainable.

DNV provides testing, certification, and technical advisory services for the energy sector, including oil, gas, and renewables. 

Through its partnership with DNV, Titomic’s cold spray technology is poised to gain broader exposure in the energy industry, solidifying its position as a leader in innovative repair, coating, and additive manufacturing solutions, the company noted. 

By participating in the ProGRAM initiative, Titomic said it aims to accelerate the adoption of cold spray technology, offering the oil and gas sector a more sustainable and effective approach to manufacturing and equipment maintenance.

For more information, visit Titomic’s official website.

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GIGABYTE unveils AI innovations and next-gen motherboards at global event https://www.australianmanufacturing.com.au/gigabyte-unveils-ai-innovations-and-next-gen-motherboards-at-global-event/?utm_source=rss&utm_medium=rss&utm_campaign=gigabyte-unveils-ai-innovations-and-next-gen-motherboards-at-global-event Thu, 10 Oct 2024 02:45:48 +0000 https://www.australianmanufacturing.com.au/?p=180976 GIGABYTE, a global leader in computer technology, has officially unveiled its latest advancements in artificial intelligence (AI) at the GIGABYTE Event. 

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GIGABYTE, a global leader in computer technology, has officially unveiled its latest advancements in artificial intelligence (AI) at the GIGABYTE Event. 

The event showcased GIGABYTE AI TOP, marking a new era of AI innovations with comprehensive software and hardware integration, as reported in a media release. 

The company also introduced its Intel Z890 and AMD X870 series motherboards, designed to push the boundaries of AI-driven performance.

Leading the announcements was GIGABYTE’s AI TOP Utility 2.0, an advanced tool designed to streamline AI training, featuring support for large machine models (LMMs).

The utility guides users through AI workflows, from model selection using RAG Check, to dataset creation, fine-tuning, and in-app validation. 

Supporting a wide range of LMMs, the system can train or fine-tune models on datasets of text, images, and video, allowing AI models to generate images and short videos in addition to text.

In terms of hardware, GIGABYTE’s AI TOP includes an optimised suite of SSDs, power supply units (PSUs), and chassis designed for high-performance AI workloads. 

These components offer enhanced power efficiency, durability, and heat dissipation, ensuring stability during heavy AI training tasks. 

Additionally, GIGABYTE announced the AI TOP 100 and AI TOP 500 setup kits—pre-built system barebones aimed at both beginners and professionals, providing flexibility for future upgrades. These kits are set to be available in Q4 2024.

Another highlight of the event was the unveiling of the AORUS Z890 series motherboards, engineered for Intel® Core™ Ultra processors. 

The Z890 series introduces the innovative D5 Bionic Corsa Technology, enabling AI-enhanced overclocking for peak DDR5 memory performance. 

GIGABYTE also introduced the AORUS X870 and X870E series motherboards, tailored for AMD Ryzen™ X3D series processors with an advanced VRM design to maximise performance.

These new motherboards join the AI TOP hardware lineup, including the Z890 AORUS XTREME AI TOP, Z890 AORUS MASTER AI TOP, and X870E AORUS XTREME AI TOP. 

These boards are built for dual-GPU configurations and feature Thunderbolt 5 technology, further enhancing local AI training capabilities.

For more details, visit the official GIGABYTE event page: GIGABYTE Event.

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ABB, Zumtobel Group partner to advance DC power and smart lighting solutions https://www.australianmanufacturing.com.au/abb-zumtobel-group-partner-to-advance-dc-power-and-smart-lighting-solutions/?utm_source=rss&utm_medium=rss&utm_campaign=abb-zumtobel-group-partner-to-advance-dc-power-and-smart-lighting-solutions Thu, 10 Oct 2024 00:39:37 +0000 https://www.australianmanufacturing.com.au/?p=180963 Global technology leader ABB has joined forces with Austria-based Zumtobel Group in a strategic partnership aimed at advancing smart building solutions and direct current (DC) industrial product applications. 

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Global technology leader ABB has joined forces with Austria-based Zumtobel Group in a strategic partnership aimed at advancing smart building solutions and direct current (DC) industrial product applications. 

he collaboration is expected to deliver integrated, sustainable solutions for the commercial, industrial, and institutional sectors, creating significant value through energy-efficient and user-friendly environments.

The partnership will combine Zumtobel Group’s expertise in lighting management systems with ABB’s building automation and electrification solutions, ABB said in a press release. 

This will enable the development of sensor-based lighting systems that optimize energy usage, improve occupant comfort, and enhance the effectiveness of heating, ventilation, and air conditioning (HVAC) controls.

“Our partnership approach enables us to better address innovation, standardization, and sustainability and continue to pioneer new technologies,” said Lucy Han, ABB’s Executive Vice President for Building and Home Automation Solutions. 

She highlighted that the partnership focuses on ensuring ease of use for customers through standardisation efforts in KNX, Matter, and Thread technologies. 

“By combining our strengths with partners like the Zumtobel Group, we can offer customers more comprehensive and innovative solutions for smart buildings and industrial applications.”

Both companies will also focus on driving the adoption of direct current (DC) technology in full-scale industrial applications. 

This shift toward DC technology aims to support a resource-saving society by improving the efficiency of renewable energy integration, reducing resource consumption, and enhancing grid stability. 

ABB and Zumtobel are both active members of the Open Direct Current Alliance (ODCA), promoting open systems and industry standards.

Oliver Vogler, Senior Vice President of Corporate Strategy and M&A at Zumtobel Group, expressed optimism about the collaboration.

“Collaborating with ABB allows us to expand our building management offering around sensor-based lighting, especially in DALI and KNX applications. Together, we can drive innovation in the rapidly evolving fields of smart buildings and smart energy solutions.”

The partnership will focus on joint development of smart building systems, particularly integrating Zumtobel’s LITECOM lighting system and TECTON DC luminaire with ABB’s DC protection devices and i-bus KNX system. 

The companies also plan to explore opportunities in prefabricated building solutions and emerging technology standards, such as the cross-manufacturer Matter standard and Thread network protocol.

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Rockwell Automation powers $3M advanced manufacturing lab for TAFE Qld https://www.australianmanufacturing.com.au/rockwell-automation-powers-3m-advanced-manufacturing-lab-for-tafe-qld/?utm_source=rss&utm_medium=rss&utm_campaign=rockwell-automation-powers-3m-advanced-manufacturing-lab-for-tafe-qld Wed, 09 Oct 2024 21:00:54 +0000 https://www.australianmanufacturing.com.au/?p=180958 A new state-of-the-art manufacturing lab, valued at $3 million, is set to be built by Applied Robotics at TAFE Queensland, powered by cutting-edge technologies from Rockwell Automation. 

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A new state-of-the-art manufacturing lab, valued at $3 million, is set to be built by Applied Robotics at TAFE Queensland, powered by cutting-edge technologies from Rockwell Automation. 

The project, funded by the Queensland Government’s $100 million Equipping TAFE for Our Future program, aims to train the next generation of engineers, manufacturers, and innovators.

Scheduled for installation in February 2025, the advanced lab will be located at TAFE Queensland’s Ipswich campus, Rockwell Automation said in a news release.  

It will incorporate a range of advanced technologies from Rockwell Automation, including Internet of Things (IoT), Manufacturing Execution Systems (MES), digital twin visualisation, and Autonomous Mobile Robots (AMRs).

“We’ve had a long partnership with Rockwell, extending over 30 years. When we won the project to deliver this smart manufacturing lab, we knew Rockwell had the expertise and technologies to meet our needs,” said Isaac Roach, chief operating officer of Applied Robotics, a Silver OEM partner in Rockwell Automation’s PartnerNetwork™.

Roach highlighted Rockwell’s ability to provide a comprehensive range of technologies under one roof. 

“Not many suppliers have all the technologies in one place, but with Rockwell, we could get IoT, MES, logistics technologies, PLCs, digital twin visualisation, and AMRs all from the one supplier,” he added.

The advanced manufacturing lab will focus on areas such as robotics, CNC (Computer Numerical Control) machining, machine vision and learning, as well as automated logistics and storage. 

A key outcome set out by the TAFE was that we needed to be able to train the trainers, so they are well-equipped to teach students in the new lab. Rockwell was instrumental in achieving this, particularly with its Plex software running the entire system with control down to the device level,” Roach explained. 

Plex, Rockwell’s SaaS-based Smart Manufacturing Platform, connects people, systems, and machines while tracking data from the shop floor to the top floor. 

This system automates business processes, provides analytics, and enhances visibility and quality control.

Anthony Wong, regional director of Rockwell Automation in South Pacific, emphasised the importance of such labs in developing Australia’s future talent. 

“It’s vital to nurture the next generation of manufacturing talent, and advanced labs like this will help train Australia’s innovators and entrepreneurs of the future,” Wong stated.

In addition to providing advanced automation technologies, Rockwell is also customising its solutions for an educational setting. 

One example is the design of a twinned PLC system that allows students to test their programming skills on one PLC, with the option to reset to default settings if needed.

This is a really clever system for an educational setup, and Rockwell took that challenge on and delivered an ideal result,” Roach noted. 

The lab will also feature Rockwell’s Emulate3D software, a digital twin technology that enables a full visualisation of plant systems. 

In an educational context, students can trial their designs in a virtual environment that replicates real-world conditions, helping them fine-tune their skills without the risks of physical mistakes.

Another key component of the lab will be Rockwell’s OTTO Motors Autonomous Mobile Robots (AMRs), marking one of the first local installations of OTTO, which Rockwell acquired in 2023.

“AMRs are at the forefront of industrial automation, and OTTO Motors AMRs are known globally for enhancing productivity in manufacturing facilities. Including them in the lab was a natural choice,” Roach noted.

“People are impressed with what this partnership between industry and education is set to achieve,” Roach said. 

“We are excited about these possibilities, and will look to continue to expand our strong partnership with Rockwell to continue delivering for the Australian education sector,” concluded Roach.

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AI wins Nobel Prize in Physics 2024 https://www.australianmanufacturing.com.au/ai-wins-nobel-prize-in-physics-2024/?utm_source=rss&utm_medium=rss&utm_campaign=ai-wins-nobel-prize-in-physics-2024 Wed, 09 Oct 2024 01:58:13 +0000 https://www.australianmanufacturing.com.au/?p=180931 The Royal Swedish Academy of Sciences announced that the 2024 Nobel Prize in Physics will be awarded to John J. Hopfield from Princeton University, NJ, USA, and Geoffrey E. Hinton from the University of Toronto, Canada. 

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The Royal Swedish Academy of Sciences announced that the 2024 Nobel Prize in Physics will be awarded to John J. Hopfield from Princeton University, NJ, USA, and Geoffrey E. Hinton from the University of Toronto, Canada. 

The duo has been recognised “for foundational discoveries and inventions that enable machine learning with artificial neural networks.”

This year’s laureates have made significant contributions to the field of artificial intelligence by utilizing principles from physics to enhance machine learning technologies, the academy stated in a press release. 

Their work has laid the groundwork for the sophisticated neural networks that underpin many modern AI applications.

Contributions to machine learning

According to the academy, John Hopfield is best known for his invention of the Hopfield network, a revolutionary model that allows for the storage and reconstruction of images and patterns from data. 

Utilising concepts from physics, specifically the characteristics of atomic spin, Hopfield’s network resembles the energy dynamics of physical systems. 

In practical terms, this means that when presented with a distorted or incomplete image, the Hopfield network systematically processes and adjusts its internal values to converge on the closest stored image, thereby minimising its energy.

Geoffrey Hinton, often dubbed the “godfather of deep learning,” built upon Hopfield’s foundational work by developing the Boltzmann machine, a model that autonomously identifies and classifies elements within datasets. 

Hinton employed statistical physics to create this learning framework, which relies on feeding the machine examples to enhance its classification capabilities. 

His innovations have driven the rapid advancements in machine learning seen over the past several decades.

The intersection of physics and AI

The award highlights the profound intersection of physics and artificial intelligence. As noted by Ellen Moons, Chair of the Nobel Committee for Physics, “The laureates’ work has already been of the greatest benefit. In physics, we use artificial neural networks in a vast range of areas, such as developing new materials with specific properties.”

Artificial neural networks, inspired by the structure and function of the human brain, consist of interconnected nodes that mimic neurons. 

These networks learn by adjusting the strengths of their connections, akin to synapses, based on the data they process. 

The application of physics principles in the design and function of these networks has resulted in powerful tools for various fields, from image recognition to material science.

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Quantum software leader Q-CTRL secures record USD 113M in funding https://www.australianmanufacturing.com.au/quantum-software-leader-q-ctrl-secures-record-usd-113m-in-funding/?utm_source=rss&utm_medium=rss&utm_campaign=quantum-software-leader-q-ctrl-secures-record-usd-113m-in-funding Wed, 09 Oct 2024 01:07:58 +0000 https://www.australianmanufacturing.com.au/?p=180924 Q-CTRL, a leader in quantum infrastructure software, announced the expansion of its Series B Funding Round to USD 113 million (AUD 166 million), securing USD 59 million in new capital. 

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Q-CTRL, a leader in quantum infrastructure software, announced the expansion of its Series B Funding Round to USD 113 million (AUD 166 million), securing USD 59 million in new capital. 

The Series B-2 all-equity round was led by the global venture firm GP Bullhound, resulting in an increase in the company’s valuation.

“We’re very excited that GP Bullhound has led this round,” said Q-CTRL CEO and Founder Michael J. Biercuk.

“Their experience and international presence will support our expansion.”

New investors include Alpha Edison, Lockheed Martin Ventures, NTT Finance, Salus Group, and TISI, alongside contributions from existing investors such as Alumni Ventures, DCVC, and Salesforce Ventures.

“We are thrilled to support Q-CTRL in unlocking the full potential of quantum technology,” said Per Roman, GP Bullhound founder and managing partner.” 

“Quantum computing and sensing will reshape industries like finance, transport, and pharmaceuticals. Our investment reflects our commitment to backing visionary companies.”

Biercuk added, “Our focused view that software can be the key enabler of quantum hardware across all applications has become a key driver of new capabilities in the field, and underpins our major commercial partnerships with leading quantum platform vendors.”

John Eales, global rugby legend and business leader, remarked, “Q-CTRL has been a fascinating investment. Partnering with large global enterprises reinforces the validation of our investment strategy.”

With this funding, Q-CTRL said it plans to enhance its investment in quantum control research and development, as well as product engineering, to support an expanding portfolio of clients that includes Fortune 500 companies, government departments, and quantum platform providers. 

The company, which employs over 130 people, has already seen significant commercial success, highlighting a potential for growth and value creation with this new investment.

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Monash research warns of mental health impact from growing cobot use https://www.australianmanufacturing.com.au/monash-research-warns-of-mental-health-impact-from-growing-cobot-use/?utm_source=rss&utm_medium=rss&utm_campaign=monash-research-warns-of-mental-health-impact-from-growing-cobot-use Mon, 07 Oct 2024 05:13:41 +0000 https://www.australianmanufacturing.com.au/?p=180831 The increasing use of collaborative robots (cobots) in Australian workplaces may pose significant psychosocial risks to workers, according to a new study by Monash University Business School.

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The increasing use of collaborative robots (cobots) in Australian workplaces may pose significant psychosocial risks to workers, according to a new study by Monash University Business School.

While cobots are transforming industries by increasing productivity and reducing physical workplace risks, the research warns that their introduction could negatively affect workers’ mental health and job security if not managed properly.

Cobots are now being used in a variety of roles, from operating heavy machinery to assisting in delicate surgical procedures.

Projections indicate that automation, including cobots, could increase Australia’s productivity growth by 50 to 150 per cent, contributing an additional $170 billion to $600 billion to GDP by 2030, according to the National Robotics Strategy.

However, Monash Business School’s research, led by Professor Herman Tse, highlights that despite the efficiency and safety benefits of cobots, their presence may also introduce psychosocial hazards.

These include job insecurity and role ambiguity, as workers may view cobots as a threat to their job stability.

“Workers often perceive cobots as potential threats to their job stability, especially when collaboration between humans and machines is minimal; lower collaboration may be perceived as a strategy to automate work and replace operators with machines. This perception can lead to increased stress and decreased trust in new technologies,” said Professor Tse.

The study points to the importance of engaging workers in the integration of cobots to alleviate these concerns. According to Professor Tse, involving employees in the planning and implementation stages of collaborative robots can reduce psychosocial risks and improve acceptance of the technology.

Key recommendations for organisations:

  • Worker engagement: Involve employees from various departments in discussions about how cobots will be integrated into their work environment.
  • Enhanced consultation: Provide clear communication regarding the impact cobots will have on job roles and responsibilities, ensuring transparency in decision-making.
  • Risk assessments: Conduct comprehensive assessments to identify and address potential psychosocial hazards associated with the introduction of cobots.

The study emphasises that participatory change management, where employees are actively consulted and involved in the transition process, can significantly mitigate the negative effects of cobots on workers’ mental well-being.

The global cobot market has grown rapidly, reaching US $50 billion since 2018, driven by rising automation needs in sectors such as manufacturing, automotive, healthcare, and food processing.

In Australia, the adoption of cobots is expected to accelerate further as businesses look to enhance productivity and address labour shortages.

“Cobots enhance productivity and address labour shortages, making them attractive for both large and small businesses, and advancements in cobot technology will further boost their adoption in Australian workplaces,” Professor Tse noted.

The research underscores that by prioritising employee engagement and conducting thorough risk assessments, companies can ensure a smoother transition to cobots while safeguarding workers’ psychological well-being.

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Nano Dimension set to acquire Desktop Metal following stockholder approval https://www.australianmanufacturing.com.au/nano-dimension-set-to-acquire-desktop-metal-following-stockholder-approval/?utm_source=rss&utm_medium=rss&utm_campaign=nano-dimension-set-to-acquire-desktop-metal-following-stockholder-approval Mon, 07 Oct 2024 00:00:23 +0000 https://www.australianmanufacturing.com.au/?p=180810 Stockholders of Desktop Metal, Inc have approved a merger agreement allowing the company to be acquired by Nano Dimension Ltd, marking a major milestone in the transaction. 

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Stockholders of Desktop Metal, Inc have approved a merger agreement allowing the company to be acquired by Nano Dimension Ltd, marking a major milestone in the transaction. 

The merger, expected to close in the fourth quarter of 2024, now only awaits final regulatory approvals.

During a special meeting, 60 per cent of approximately 33 million outstanding Desktop Metal shares voted in favour of the merger. 

Of the total votes cast, over 96 per cent supported the agreement, reflecting strong backing from shareholders.

Ric Fulop, founder and CEO of Desktop Metal, expressed gratitude for the stockholders’ confidence in the merger, emphasizing the strategic benefits of joining forces with Nano Dimension. 

“This industry needs the combination of great products and technologies with a strong balance sheet to become self-sustaining.” 

“The agreement to combine with Nano Dimension is the best offer for stockholders to realise value from their current holdings in Desktop Metal,” Fulop said.

Yoav Stern, CEO of Nano Dimension, highlighted the significance of this approval, stating, “We are another step closer to closing the acquisition of Desktop Metal and building a strong, new leader in the digital manufacturing space.” 

Stern also noted that Nano Dimension is focused on securing the necessary regulatory approvals and advancing post-merger integration plans.

The merger is expected to strengthen the companies’ combined position in the digital manufacturing sector, with further growth anticipated through Nano Dimension’s planned business combination with Markforged.

The final voting results will be submitted to the US Securities and Exchange Commission (SEC) through a Form 8-K by Desktop Metal.

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