Melbourne, Australia, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Leading Australian metal 3D printing company, SPEE3D, has announced a funding partnership with 1941 as it builds its global business supplying groundbreaking dual-use military technology.
The funding deal links SPEE3D with former Australian Ambassador to the U.S., Joe Hockey, and his successful dual-use investment fund, 1941, jointly owned by Bondi Partners and Ellerston Capital.
The new arrangement will see 1941 invest in SPEE3D to help expand its global business supplying metal 3D printers and integrated systems utilizing its patented Cold Spray Additive Manufacturing (CSAM) technology, which can swiftly produce mechanical parts for military and industrial applications in the most complex environments.
The technology is world-leading, being the only in-field 3D printer being used in combat zones for Australia and its allies. SPEE3D currently services the Australian Department of Defence, the U.S. Department of Defense, the U.K. Ministry of Defence, the Japanese Ministry of Defence and the Ukraine Army, among others. A number of units were recently deployed as part of the world’s largest maritime military exercise, Rim of the Pacific (RIMPAC) exercise, at the Marine Corps Air Station in Kaneohe Bay in Hawaii.
“Our partnership with 1941 will help us to grow quickly and meet the growing global demand for our technology,” SPEE3D Chief Executive, Byron Kennedy, said. “1941 and Bondi Partners have extensive military ties with the U.S. military and other allied nations and our partnership aims to build on this great Australian success story.”
Anthony Lazzoppina, Partner and Australian CEO of Bondi Partners added: “We are excited to be partnering with SPEE3D to help expedite its global growth plans. This Australian-founded advanced manufacturing technology is incredibly important in a world where secure supply chains and interoperability are of upmost importance. We look forward to supporting SPEE3D using our unique expertise and deep networks as the business continues to expand into the U.S. and beyond.”
SPEE3D is a leading metal additive manufacturing company which has been operating since 2014. It recently opened its first manufacturing plant in the United States where it will manufacture its 3D printers which can be used to produce significantly faster production than traditional metal manufacturing.
1941 is a dual-use national security investment fund, jointly owned by Bondi Partners and Ellerston Capital. Its mission is to identify, invest in and help grow the next generation of Australian and U.S. success stories focusing on national security dual-use businesses and technologies across the Indo-Pacific.
Steve Lewis steve.lewis@secnewgate.com.au
