Fortius Metals, Inc, Lafayette, Colorado, USA, a spinout from Elementum 3D, has closed on a priced seed financing round with AM Ventures, the venture capitalist arm of the Langer Group. The $2 million round is expected to be used to scale manufacturing capacity, grow the company and accelerate its go-to-market strategy.
Fortius Metals is a large-format Additive Manufacturing company that focuses on advanced materials which help customers develop solutions previously not possible with robotic AM. Fortius Metals’ patented technology is said to enable welding and AM wire fabrication using high-performance metal alloys to meet strict demands of aerospace customers and robotic welding fabricators. Fortius welds are said to frequently be twice the strength of incumbent commercial options for welding and Additive Manufacturing, furthering its ability to meet customer needs.
“We are looking forward to supplying customers who are already requesting our proprietary 6061 aluminium welding wire that solves traditional ‘hot cracking’ problems,” said Jeff Lints, Fortius CEO. “We are proud to be a Colorado company along with many of our space and aircraft customers.”
AM Venture, a venture capital firm for the AM sector, focuses solely on startups built around industrial-grade AM offerings, including hardware, software, materials, and applications. AM Ventures’ portfolio includes a group of seventeen companies.
Fortius Metals’ position as a potential supplier to technologically cutting-edge aerospace and defense customers inspired AM Ventures to navigate complex Committee on Foreign Investment in the United States (CFIUS) clearance rules for their 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, but, until we spoke to Fortius we had not seen an investment opportunity that could accelerate adoption,” explained Philip Schultheiss, Senior Associate at AM Ventures. “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 was formed from parent company Elementum 3D to develop nanostructured metal alloy wires for use in robotic AM applications, thereby opening potential to new markets and products. The company’s vision is to use advanced materials technology to re-shore the metal manufacturing supply chain while supporting highly skilled jobs in American factories.