- NAMI purchased 3D Systems’ metal DMP Factory 500 and DMP Flex 350 Dual solutions, and polymer SLS 380 solution to produce parts for Saudi Electricity Company — improving supply chain efficiency
- Demonstrates positive effects of manufacturing locally and impact of making additive manufacturing more accessible to catalyze innovation
- 3D Systems’ solutions driving growth of additive manufacturing use in energy sector — total market expected to grow to $17 billion by 2032
ROCK HILL, S.C., July 11, 2024 (GLOBE NEWSWIRE) -- Today, 3D Systems (NYSE:DDD) announced that National Additive Manufacturing & Innovation Company (NAMI), an additive manufacturing company based in Saudi Arabia, has purchased multiple 3D Systems 3D printing technologies — DMP Factory 500, DMP Flex 350 Dual, and SLS 380 — to support its recently announced collaboration with the Saudi Electricity Company (SEC). Through this initiative, NAMI will leverage the power of 3D printing to create a localized supply chain for spare parts for SEC, the largest producer, transmitter, and distributor of electrical energy in the Middle East and North Africa. As part of the project, NAMI will create a digital inventory system intended to not only reduce production time but also physical storage requirements and cost. 3D Systems’ additive manufacturing solutions, including its metal and polymer 3D printing technologies as well as NoSupports printing strategies developed by its Application Innovation Group, are renowned for enabling the efficient production of precise end-use parts. The combined expertise of NAMI and 3D Systems’ industry-leading 3D printing technology will help deliver high-performance components such as pump impellers, fuel burners, motor fans, heat sinks, and heat exchangers while reducing SEC’s physical inventory requirements. This will enable SEC to mitigate supply chain risk while lowering costs and driving efficiency.
“Our additive manufacturing solutions have demonstrated their value for improving supply chain efficiency and accelerating innovation across a variety of industries,” said Reji Puthenveetil, EVP, additive solutions and chief commercial officer, 3D Systems. “The combination of reverse engineering designs for obsolete parts and additive manufacturing helps extend the uptime and life of equipment. NAMI’s engineering and application capabilities combined with the power of our industry-leading 3D printing platforms will be invaluable tools to catalyze the collaboration with SEC. I’m looking forward to seeing how this work will not only benefit SEC but also the services it provides to its customers.”
NAMI is a joint venture between 3D Systems and Saudi Arabian Industrial Investments Company (Dussur) to play a pivotal role in realizing Saudi Arabia’s Vision 2030 to build localized additive manufacturing production capabilities with an initial focus on the defense, energy, and manufacturing sectors.
“Since NAMI’s inception, we have made significant progress in expanding the use of additive manufacturing within the region,” said Mohammed Swaidan, chief executive officer, NAMI. “Our collaboration with SEC reinforces our commitment to address the energy sector, and 3D Systems’ technology and applications expertise form the foundation of a transformative solution. The work we are doing with SEC will not only enhance the reliability of SEC’s supply chain but also drive substantial cost efficiencies and operational improvements.”
According to Research and Markets1, the additive manufacturing market in the energy sector was valued at $2.6 billion in 2023 and is expected to grow to $17 billion by 2032. Additive Manufacturing is well-recognized for its ability to shorten design cycles and deliver high-quality, reliable, and high-performance components that meet or exceed design criteria. 3D Systems has extensive experience helping customers in this high-tech, fast-paced industry meet these goals through its additive manufacturing solutions comprising materials, 3D printing technologies, software, and services. As a result, energy companies can increase fuel efficiency, lower maintenance costs, and reduce greenhouse gases.
Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.
About 3D Systems
More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.
About NAMI
NAMI is an additive manufacturing company in Saudi Arabia that was launched in November 2022 by 3D Systems and Dussur. We aim to be a top five additive manufacturing service by 2030 and localize manufacturing in the industrial and medical sectors by providing a digital manufacturing platform that facilitates access to reliable industrial-grade technologies and application engineers, maximizing local adoption of 3D printing. For more information, please visit www.nami3dp.com.
1 Research and Markets, “Global Additive Manufacturing in the Energy Industry Report 2024: A $2.6 Billion Market in 2023 is Projected to Reach $17 Billion in 2032 – Latest Trends, Opportunities, Challenges, and Outlook” (March 7, 2024).
