Stanley Black & Decker has “stepped” up its support for Evolve Additive Solutions’ expansion into new markets, applications, and opportunities by making an additional investment in its Selective Thermoplastic Electro-photographic Process (STEP) technology. Based in Minnetonka, MN, Evolve’s stated mission is to produce innovative manufacturing solutions that enable customers to manufacture in revolutionary new ways.
In 2017, Evolve raised $19 million in equity funding — Lego Brand Group and Stanley Black & Decker were among the companies investing in its STEP technology. This additional investment from Stanley Black & Decker supports Evolve’s vision of expanding into new markets and applications. STEP technology sits alongside traditional manufacturing processes, such as injection molding, on the manufacturing floor and augments an organization’s production capabilities, allowing freedom of design and faster time to market with “tool-less” production.
From the outset, Evolve’s goal was to attain five primary requirements that would make additive manufacturing a true customized production process: Availability of thermoplastic materials currently used in injection molding; the speed of the injection molding process; scalability; cost; and quality, according to the company’s website.
Evolve’s “revolutionary STEP technology and Scalable Volume Production (SVP) will radically improve manufacturing and enable disruptive new business models for organizations by unlocking the full capabilities of additive manufacturing,” said the company.
The Tech Tribune recently featured a Q&A with Evolve’s founder and CEO, Steve Chillscyzn, in which he noted that the company is “on track for the commercialization of its first machine, the SVP, in Q4 2020. Evolve continues to work with vendors on new materials and has recently proven out the ability to print multiple materials (voxel-specific) in the same layer. The company is marketing itself to a variety of industries including automotive, medical, packaging, and consumer goods, with plans to grow these markets,” Chillscyzn told the Tech Tribune.
Regarding the announcement of continued support from Stanley Black & Decker, Chillscyzn said, “Our continued relationship expands our market opportunity. As a startup organization that is redefining the market, the continued confidence and trust from Stanley gives us proof that there is a strong demand for our technology in the marketplace.”
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