Xaar, Stratasys Announce 3D Printing Joint Investment
The joint venture supports the advance of high-speed sintering 3D printing.
Xaar PLC has announced that it will invest with Stratasys in a newly formed company, Xaar 3D Limited, to develop 3D printing solutions based on high-speed sintering technologies. Xaar provides technology related to high-speed sintering and industrial piezo inkjet printheads, while Stratasys contributes its commercial and market expertise.
Xaar will hold 85 percent of Xaar 3D Ltd shares with Stratasys holding 15 percent. In addition, Stratasys has been granted an option to increase its ownership in Xaar 3D Ltd to a total of 30 percent. Xaar 3D Ltd will hold all of Xaar’s high-speed sintering assets. The new company’s board will be chaired by Xaar CEO Doug Edwards.
“We are delighted to launch our partnership with Stratasys,” says Edwards. “This joint investment in the development of 3D printing technologies reinforces the value created by our R&D and continues our plan to diversify Xaar’s business. We are also pleased to be working alongside a leader in the 3D printing space, who recognizes the value of Xaar’s technology and expertise.”
“We are impressed with the Xaar team’s achievements to date,” says Scott Crump, chief innovation officer for Stratasys. “We believe that the complementary assets of Stratasys and Xaar will enable Xaar 3D Ltd to develop solutions that further address customers' additive manufacturing requirements for a broader range of production applications.”
