Canadian materials science company Equispheres says that it has received a US$5 million investment from aerospace giant Lockheed Martin to make materials for additive manufacturing (AM) and cold spray deposition.
Equispheres’ technology can reportedly produce perfectly spherical metal powder (PM) with the specific characteristics by within the aerospace and automotive industries.
The investment will allow the company to grow from an existing workforce of 20 to more than 200 employees over the next five years.
‘We are very excited to have developed this relationship with Lockheed Martin and secured this investment as it enables Equispheres to offer a broader range of products to the metal powder market, which is doubling in size every 12-to-18 months,’ said Kevin Nicholds, president and CEO of Equispheres.
While Equispheres initially developed its technology to atomize aluminum alloys, the investment will help enable it to build reactors producing powders of higher strength material such as inconel, steels and cobalt chrome.
This story uses material from Equispheres,with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.