Desktop Metal (NYSE:DM) stock is soaring higher on Thursday after announcing a new breakthrough in 3D printing.
According to a news release from Desktop Metal, its partnership with Uniformity Labs has borne fruit. The two companies have worked together to create a new powder for aluminum sintering for binder jetting additive manufacturing (AM) technology.
Desktop Metal notes that this power allows for the sintering of unadulterated 6061 aluminum. This offers significant improvements over previous sinter aluminum techniques, which relied on complex steps before use.
Desktop Metal notes that it plans to continue working with Uniformity Labs to qualify the new powder for commercial release. This will have the powder being made available exclusively for its Desktop Metal Production System platform.
Ric Fulop, co-founder and CEO of Desktop Metal, said this about the news sending DM stock up today.
“This breakthrough represents a major milestone in the development of aluminum for binder jetting and a significant step forward for the AM industry as it is one of the most sought-after materials for use in automotive, aerospace and consumer electronics. The global aluminum castings market is more than $50 billion per year, and it is ripe for disruption with binder jetting AM solutions.”
Desktop Metal doesn’t say when the new powder will be ready for commercial sale. However, this breakthrough is a major step forward in enabling 3D printing with aluminum.
DM stock was up 10.6% as of Thursday afternoon and is up and is up 28.1% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.