Essentium, Inc., announced a planned business combination with Atlantic Coastal Acquisition Corporation (NASDAQ: ACAH) (“Atlantic Coastal”). Atlantic Coastal is developing a new metal additive manufacturing platform that will be integrated with the Essentium High Speed Extrusion (HSE) technology. The system will help manufacturers change how they produce high-quality metal parts with new metal materials to unlock increased speed, economic, and innovation advantages.
This effort is being led by the EssentiumX team, the future-focused special project development team at Essentium. Designed to disrupt current metal AM approaches, the advanced platform is being developed to push the boundaries of what is possible. The technology, which is supported by five patents to date with three additional patents pending, is expected to provide energy-efficient deposition, decrease porosity, and minimize warpage during a build. It will produce parts comparable to castings and forgings with minimal post-processing required.
Elisa Teipel, Ph.D., Chief Development Officer of Essentium, said, “By leveraging our materials-first heritage, we are creating a unique manufacturing method. Our metal AM platform will deliver improved throughput for high part quality, and it will have the potential for broad-scale use in major industrial markets, including automotive, aerospace and defense. We expect our metal AM platform to empower manufacturers to innovate faster and stay ahead despite unprecedented challenges in today’s markets.”