3D metal printing equipment manufacturer Additive Industries has received a €14 million investment from its shareholder Highlands Beheer.

Highlands has also acquired the shares owned by co-founder and CEO Daan Kersten, who will officially leave the company at the end of June 2020. Until a suitable successor is found, chief technology officer (CTO) Mark Vaes assumes the position of CEO, the company said.

Additive Industries reportedly plans to use the investment to expand its product portfolio, acceleration of its technological roadmap and strengthening of working capital. It also provides for any possible COVID-19 impact that may affect the company’s business in due course, the company added.

‘This substantial investment confirms the long-term commitment of Highlands to the growth ambitions of the company and it allows Additive Industries to make yet another significant step on its mission to revolutionize the productivity for the additive manufacturing of high quality metal parts,’ said Kersten. ‘After eight intense years of fast growth I feel the time is right to make way and hand over the reins to new leadership.’

This story uses material from Additive Industries, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.