Materials company BASF has agreed to invest US$25 million in 3D printing company Materialise, headquartered in Leuven, Belgium. The companies have also reportedly agreed to develop their partnership to improve materials and software for various 3D printing technologies and bring them more rapidly to the market, focusing on applications in the consumer goods, automotive and aviation industries.

‘To increase the adoption of 3D printing as a complementary manufacturing technology for final products, our industrial customers increasingly demand more control, more choice and ultimately lower cost,’ said Fried Vancraen, Materialise CEO. ‘We are confident that this collaboration with a leading manufacturer of materials will help to accelerate the adoption of 3D printing in existing vertical markets and create significant business opportunities in new markets.’

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