A game-changing collaboration between voxeljet, a leading large-scale 3D printer maker, and GE Research has sparked a significant surge in voxeljet’s stock price. The partnership, funded by the U.S. Department of Energy (DoE) and supported by GE Research, aims to revolutionize the production of metallic near-net shape (NNS) components for the wind and hydro energy sectors.
At the heart of this collaboration is voxeljet’s revolutionary sand binder jet 3D printer, known as the Advanced Casting Cell (ACC). This remarkable printer has the capability to construct mammoth sand-casting molds, ranging between 10 to 60 tons, for the production of crucial wind and hydro energy components. For instance, it could revolutionize the production of the nacelle of the GE Haliade-X Offshore Turbine, which weighs over 60 metric tons.
The benefits of using the ACC are numerous. One of the most significant advantages is the potential to significantly reduce production time for vital components. Currently, the process can take up to ten weeks, but with the ACC, the aim is to bring it down to just two weeks. This would lead to a reduction in production durations and costs, making the manufacturing process more efficient.
The ACC project also focuses on enhancing the production of other important components, such as the 16-ton rotor hub for wind turbines and a robotic welding process for assembling the Francis runner in hydropower turbines. Additionally, a new training program is being developed to educate workers on how to effectively use the ACC and leverage the benefits of this cutting-edge 3D printing technology.
The recent announcement of this collaboration has had a positive impact on voxeljet’s stock price. The company’s stock experienced a notable increase of 23%, reaching $1.35 on October 11, 2023. This increase suggests that investors recognize the potential significance of this partnership in addressing voxeljet’s recent challenges.
It’s important to note that voxeljet’s collaboration with GE Research is part of a broader initiative involving other industry giants and academic institutions, including GE Hydro, GE Onshore Wind, GE Offshore Wind, Clemson University, Oak Ridge National Laboratory (ORNL), and Hodge Foundry. These partnerships aim to enhance and optimize the ACC project, contributing to the advancement of the manufacturing landscape.
The DoE’s September 2023 announcement of a $72 million fund for wind energy and hydropower projects further emphasizes the significance of this collaboration. More than half of the allocated funds, over $40 million, are dedicated to advanced manufacturing techniques like 3D printing, highlighting the government’s commitment to innovation in the manufacturing sector.
While voxeljet faced challenges earlier this year, including a cash crunch situation, this collaboration with GE Research has provided a much-needed boost of confidence. However, stakeholders should continue to monitor voxeljet’s stock performance and future endeavors to assess the company’s overall progress.
Overall, voxeljet’s partnership with GE Research and the development of the ACC have the potential to revolutionize the production of key components in the wind and hydro energy sectors. With the promise of reduced production time, increased efficiency, and cost savings, this collaboration marks a significant step towards a cleaner and more sustainable energy landscape.
voxeljet, a leading manufacturer of massive-scale sand 3D printers, has recently come under scrutiny for its financial sustainability. With a cash runway of approximately 15 months, concerns have been raised about the company’s ability to stay afloat. In a bid to address these concerns, voxeljet has announced a formal review process to explore strategic alternatives.
Guided by BNP Paribas Securities and Hogan Lovells, voxeljet is considering a range of possibilities, from mergers and joint ventures to strategic partnerships. While the outcome of this review process is uncertain, it will undoubtedly play a vital role in shaping voxeljet’s roadmap in the coming years.
3DPrint.com Editor-in-Chief Michael Molitch-Hou shed light on voxeljet’s situation, noting its unique position in the emerging market of massive-scale sand 3D printers. However, Molitch-Hou also highlighted the company’s precarious financial situation based on its 2022 numbers. With negative operating and free cash flows, voxeljet faces significant challenges in ensuring its sustainability.
On a positive note, the company’s investing cash flow has remained positive, and its end cash position has been relatively stable. This provides some relief amidst the challenges it faces. voxeljet has been allocating much of its financing cash flow towards debt repayment, which could potentially help mitigate long-term liabilities. Nevertheless, the decline in its end-of-year cash position from 2021 indicates a need for new capital infusion to sustain its operations.
Despite the financial hurdles, voxeljet has consistently demonstrated innovation and secured collaborations with influential partners. Notably, its collaboration with GE Research, which secured the majority of the DoE’s funding, has strengthened voxeljet’s position in the industry and set a precedent for future collaborations.
Voxeljet’s CEO, Ingo Ederer, remains optimistic about the company’s future. He emphasizes voxeljet’s unwavering commitment to advancing clean power-generation technologies in response to global climate challenges. Ederer believes that the transition to cleaner energy solutions is both an economic necessity and a moral imperative, and voxeljet is well-positioned to make a tangible difference with its Advanced Casting Cell.
For those interested in staying updated on the latest news from the 3D printing industry and receiving information and offers from third-party vendors, voxeljet’s journey can serve as a constant source of insight and inspiration.
“Why did the 3D printer go to therapy? Because it had too many layers of unresolved issues!”
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