Temasek owned Accuron Technologies on Tuesday said it has invested in a UK-based additive manufacturing startup, taking a more than 20 per cent stake in the company it thinks could “transform manufacturing”. Accuron declined to reveal the amount it invested in the startup, WAAM3D, but said the stake was a “substantial one”, even if it isn’t a majority interest.
Meanwhile, the startup has said it intends to add as many as 20 employees to its team in the coming year to scale up operations.
WAAM3D is a company spun out from Cranfield University, which specialises in wire-based additive manufacturing (WAAM) research.
A form of 3D printing, wire-based additive manufacturing has the potential to produce large metal components with low costs and short production lead-times. The process involves using an electric arc or laser to melt metal wire.
Accuron – which is involved in precision manufacturing and material processing, among other operations – said it believes additive manufacturing will play a “significant role” in how parts can and will be manufactured in the coming future.WAAM3D has been receiving interest from various industry sectors over the past decade, said its chief executive Filomeno Martina.
Tan Kai Hoe, Accuron’s president and chief executive, said the group has been looking at “several additive manufacturing technologies for a while” and thinks WAAM3D’s process has “a real chance to transform manufacturing”.
“We are very impressed with the company’s technology and expertise, which allow it to make large, high-quality parts for real-world applications,” he added. “With our capital investment and industrial knowledge, we hope to help the company realise its true potential.”
Last year, Accuron spun out its medical device business to be directly owned by Temasek, to focus its resources on pursuing opportunities in the aerospace and industrial businesses, as well as to allow the medical device arm to better focus on global medtech growth and investment opportunities.
