Accuron Technologies, based in Singapore, has announced an additional investment and the acquisition of a majority stake in its associate company, WAAM3D Ltd, located in Milton Keynes, UK.
“We are excited about our journey with WAAM3D,” said TAN Kai Hoe, Group CEO and president of Accuron Technologies. “As the company’s first strategic investor when it was spun out of Cranfield University, we provided additional resources to support its growth as the company developed. I see this as a testament to the shared belief the founders and we have in the company, as well as the mutual trust we have developed over the past years.”
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Hoe added, “In addition to providing financial support, Accuron’s industrial expertise and network also help to accelerate the company’s technology, product, and business development, but we think it takes a village to raise a child. Indeed, we look forward to working with partners and customers in a long-term relationship to bring this innovative, energy-efficient, and disruptive WAAM technology to key manufacturing industries. I am convinced WAAM will enable us to serve these industries to shape better lives.”
WAAM3D, founded by Cranfield University in 2018, is a spin-out company created to commercialise WAAM technology developed by its leading research group. The aim of the company is to provide industry with the ability to manufacture parts using the technology. In late 2019, Accuron provided initial investment funding for WAAM3D’s transition into an independent entity. Since then, WAAM3D has successfully developed complete turnkey solutions through in-house development and strategic partnerships, to address its customers’ needs for WAAM equipment, dedicated software, wires, parts, and part-making expertise. WAAM3D continues to work closely with Cranfield University, ensuring that the company’s products and services are always at the forefront of new technological innovation in wire-based Directed Energy Deposition (DED) Additive Manufacturing.
WAAM3D uses advanced WAAM techniques allowing manufacturers in the aerospace, oil and gas, mining, semiconductor, and other industries to create large-format parts. They have greater design freedom, lower costs, a reduced environmental footprint, and shorter lead times.
WAAM3D and Sccuron have also established Addept3D, a WAAM application centre based in Singapore. This joint venture seeks to develop and advance the technical expertise necessary to implement WAAM for parts manufacturing in Singapore and the surrounding region.