The company, fresh off a $2 million seed financing round, wants to use advanced materials technology to re-shore the metal manufacturing supply chain
December 6, 2022
LAFAYETTE, Colo.—Metal 3D printing firm Fortius Metals, Inc., reported that it closed recently on a priced seed financing round with AM Ventures. The $2 million round will be used to scale manufacturing capacity, grow the company ,and accelerate its go-to-market strategy, according to a release from Fortius Metals.
Fortius Metals is a large format additive manufacturing company that specializes in advanced materials to help customers develop solutions previously not possible with robotic 3D printing. The company said its vision is to use advanced materials technology to re-shore the metal manufacturing supply chain while supporting highly skilled jobs in American factories.
The company has developed a patented technology designed to enable welding and 3D wire fabrication using high performance metal alloys that meet the exacting demands of aerospace customers and robotic welding fabricators, Fortius Metals said in the release.
Fortius welds are reportedly often twice the strength of incumbent commercial options for welding and 3D printing. This helps customers increase design performance, improve product quality, and reduce weight, the company said.
“We are looking forward to supplying customers who are already requesting our proprietary 6061 aluminum welding wire that solves traditional ‘hot cracking’ problems,” said Jeff Lints, Fortius CEO, in a statement. “We are proud to be a Colorado company along with many of our space and aircraft customers.”
AM Ventures, a prominent venture capital firm for the additive manufacturing sector, focuses solely on startups built around industrial-grade 3D printing offerings, including hardware, software, materials, and applications. The company’s portfolio includes an elite group of 17 companies engaged in 3D printing, out of over 2,400 start-ups evaluated.
Fortius Metals’ position as a potential supplier to technologically cutting-edge aerospace and defense customers is said to have inspired AM Ventures to navigate complex CFIUS clearance rules for its investment in order to open the door to a long-term partnership with Fortius.
“We strongly believe that large scale additive manufacturing has massive potential,” said Philip Schultheiss, senior associate at AM Ventures, in the release. “But until we spoke to Fortius, we had not seen an investment opportunity that could accelerate adoption. Jeffrey and his talented team are developing not only a way of making high strength metals readily available for large scale printing and traditional welding, but also increasing their mechanical properties. An investment was just logical.”
Fortius is a spinout from Elementum 3D, an Erie, Colorado-based company that has already patented and commercialized this technology for powder bed fusion additive manufacturing. Fortius was formed to develop nanostructured metal alloy wires for use in robotic additive manufacturing applications that represent new markets and new products, the company said.
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