Sumitomo Invests in Elementum 3D, Inc.; Furthers Reach into AM
NEW YORK, Jan. 13, 2020 /PRNewswire/ — Sumitomo Corporation of Americas (“SCOA”) announced today its investment in Elementum 3D, Inc. (“Elementum” or “the Company”), an additive manufacturing research and development company that specializes in the creation of advanced metals, composites and ceramics. Elementum holds a patent for a metal powder blended with ceramics that enables faster printing speed, stronger mechanical properties and a wider usage of metal grades that have not traditionally been suitable for additive manufacturing. This investment will help expand the marketing and sales of Elementum’s proprietary powder.
“This investment is an excellent complement to our growing portfolio in the additive manufacturing space,” said Mr. Kazuaki Tsuda, Senior Vice President and General Manager, Steel and Non-Ferrous Metal Group at Sumitomo Corporation of Americas. “Elementum is pioneering new intelligence related to the raw materials supply chain in additive manufacturing, and we see abundant opportunity for these applications in the near future.”