The Fully Integrated 3D Printing Solution Will Be Operated by ATI in a Newly Established Facility That Will Provide the U.S. Naval Nuclear Propulsion Program With Alternatives To Cast Parts

FORT LAUDERDALE, Fla. — (BUSINESS WIRE) — March 7, 2024 — Velo3D, Inc. ( NYSE: VLD), today announced Bechtel Plant Machinery Inc. (BPMI) has selected a fully integrated metal additive manufacturing solution from the company to produce parts for the U.S. Naval Nuclear Propulsion Program. The Sapphire XC large format printer, calibrated for stainless steel 415, will be operated by ATI ( NYSE: ATI) at its new additive manufacturing facility outside Fort Lauderdale, Florida. Earlier this year, BPMI awarded a contract to ATI to support development of highly engineered part solutions for advanced manufacturing methods including metal additive manufacturing. The partners will use the printer to produce parts previously produced through casting, reducing lead times for mission critical parts, and streamlining their supply chain.

Velo3D’s technology was developed in the United States and includes a fully integrated software and hardware solution. The company is headquartered in the United States, including its research and development, customer support, and manufacturing operations. Conventional 3D printers often struggle to produce parts with overhanging features beyond 45 degrees without support structures, however Velo3D’s proprietary technology offers the ability to produce parts with a wide variety of geometries with few-to-no supports. This has allowed the company to address applications that other 3D printing technologies cannot. In addition to using this technology to 3D print parts that are traditionally cast, Velo3D’s technology also enables more innovative designs to replace components currently in use. Furthermore, this capability can be scaled to additional machines across multiple locations and operators.

“BPMI and ATI’s progressive approach to 3D printing is extremely forward-thinking and this new, revolutionary facility will significantly augment the U.S. Navy’s supply chain for maintenance, repair, and operations,” said Brad Kreger, CEO at Velo3D. “Both companies are early adopters of metal 3D printing and innovators in the manufacturing industry. We look forward to working with them as they support the U.S. Navy’s fleet, including its aging vessels.”

The U.S. Navy currently operates approximately 300 vessels, many of which were commissioned decades ago. They, along with the broader U.S. Department of Defense, have actively incorporated additive manufacturing, acknowledging its efficiency in supporting its aging equipment, enhancing warfighter readiness, and reducing replacement part lead-times. Additive manufacturing accomplishes this by enabling distributed supply chains and digital inventories where manufacturers can produce parts within spec across any similar printer calibrated for the same metal alloy. ATI’s new secure facility, along with Velo3D’s fully integrated solution, are significant steps forward in advancing the Navy's maintenance and operational capabilities.

“Printers with larger build volumes and the ability to print with less support structures are ideal for U.S. Naval Nuclear Propulsion Program applications,” said Nathan Weiderspahn, BPMI Executive Manager, Industrial Base Management. “This additive manufacturing technology will greatly support our efforts in delivering new technology to the U.S. Navy and helping maintain its fleet of ships.”

“ATI will be able to more easily additively produce complex parts with fewer support structures, at lower angles, and larger sizes than ever before,” said Joe Thompson, General Manager of ATI Additive Manufacturing Products. “This enables us to broaden the scope of possible part designs for our defense and aerospace customers, enabling higher performance and better quality. The business opportunity represented by these previously unproduceable part designs is significant.”

BPMI’s new Sapphire XC printer is the first such printer from Velo3D calibrated for stainless steel 415, an alloy of iron, chromium, and nickel that provides good tensile strength and corrosion resistance at a range of temperatures.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named as one of Fast Company’s Most Innovative Companies for 2023. For more information, please visit Velo3D.com, or follow the company on LinkedIn or Twitter.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations regarding its growth and the Company’s other expectations, hopes, beliefs, intentions, or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Velo, Velo3D, Sapphire, and Intelligent Fusion, are registered trademarks of Velo3D, Inc. Without Compromise, Flow and Assure, are trademarks of Velo3D, Inc.

All Rights Reserved © Velo3D, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240307182242/en/

Media Contact:  
Dan Sorensen, Senior Director of Public Relations
press@velo3d.com

Investor Relations:  
Bob Okunski, VP Investor Relations 
investors@velo3d.com