LPW Technology receives strategic investment from Stratasys
LPW Technology, Runcorn, UK, has announced a strategic investment in its growing business by Stratasys, Minneapolis, USA, a 3D printing and Additive Manufacturing solutions company. Already serving a number of OEM and Tier-1 suppliers, LPW offers metal powders for AM processes as well as PowderLife: an intelligent powder management system that enables the traceability and management of metal powder batches throughout their lifecycle.
LPW plans to invest in excess of £20 million, of which Stratasys’ investment will form part, into new facilities and development over the next two years. “The Stratasys investment demonstrates confidence in LPW’s solutions for metal Additive Manufacturing powders,” stated Dr Phil Carroll, LPW Founder and CEO. “We have worked with Stratasys through its parts-on-demand unit – Stratasys Direct Manufacturing – for over three years. We recognise that it, together with the Stratasys solution business units, brings deep understanding and experience in production across the vertical markets.”
Alon Elie, Stratasys Vice President of Corporate Development, added, “LPW’s vision is closely aligned with our goal of bringing 3D printing to production environments through closely integrated solutions, combining materials, software and hardware. As metal 3D printing extends to production environments, issues of quality control, integrated workflows and process know-how become more critical in the supply chain. This investment in LPW is part of our strategic decision to strengthen our knowledge and expertise in metal Additive Manufacturing, in which we are already active today via Stratasys Direct Manufacturing.”
In bringing Stratasys on board as a strategic investor, LPW remains majority owned by founder, Dr Carroll, who will continue to lead the business supported by LPW’s independent management team. The Stratasys investment represents the first consolidated partnership arrangement to come of LPW’s plans to develop close working relationships with industry leaders Additive Manufacturing.
