Evolve Additive Solutions Company Profile

Background

Evolve Additive Solutions, founded in 2017 and headquartered in Minnetonka, Minnesota, specializes in additive manufacturing technologies. The company aims to bridge the gap between traditional manufacturing methods and additive manufacturing by offering solutions that combine the speed, quality, material selection, and cost-effectiveness of injection molding with the flexibility of 3D printing.

Key Strategic Focus

Evolve's strategic focus centers on its proprietary Selective Thermoplastic Electrophotographic Process (STEP) technology. This platform is designed to produce high-quality, isotropic parts suitable for various industries, including automotive, consumer goods, electronics, irrigation, and outdoor recreation. By leveraging standard ABS and nylon polymers, Evolve provides fully recyclable materials, promoting sustainable manufacturing practices.

Financials and Funding

Since its inception, Evolve Additive Solutions has secured significant funding to support its growth and technological advancements:

2018: Raised $19 million in funding.

2021: Secured an additional $30 million in funding from 3D Ventures, bringing the total funding to approximately $56.4 million.

These funds have been utilized to accelerate commercial deployments, expand product portfolios, and enhance global market presence.

Pipeline Development

Evolve has achieved several key milestones in its product development:

2018: Shipped the first Alpha system.

2020: Commenced commercial system sales.

2021: Shipped the first commercial system.

2023: Launched the Production Assessment Program and introduced new materials, including gray ABS.

Technological Platform and Innovation

Evolve's STEP technology stands out in the additive manufacturing industry by combining electrophotographic imaging with a deposition-based 2D printing process. This method enables the creation of dense parts with consistent properties, addressing common challenges in additive manufacturing. The use of standard engineering-grade thermoplastics, such as ABS and nylon, ensures that produced parts meet industry standards for strength and durability.

Leadership Team

Evolve's leadership comprises experienced professionals with diverse backgrounds:

Jeff Blank: Chief Executive Officer. With over two decades in the 2D printing industry, Jeff has held significant roles at Tektronix, Xerox Corporation, and 3D Systems, overseeing product development and engineering teams.

Jeff Hanson: Vice President of Sales & Marketing. Jeff brings nearly 30 years of experience in 3D printing, including early product development at Stratasys and co-founding RedEye on Demand.

Dr. Arun Chowdry: Senior Vice President of Emerging Technologies & Applications. With over 30 years in technology and commercialization leadership at NexPress and Kodak, Arun has led teams in digital printing press development and built strategic patent portfolios.

John Lees: Vice President of Engineering. John has over 25 years of experience in product and technology development, including leadership roles at Bosch Packaging Technology, Optomec, and Tetra Pak.

Melissa Hanson: Vice President of Marketing. Melissa has over 17 years of experience driving growth for industrial technology companies, including senior marketing roles in the additive manufacturing industry at PostProcess Technologies, Nexa3D, and Stratasys.

Leadership Changes

In June 2024, Evolve appointed Jeff Blank as its new Chief Executive Officer, marking a new era in the company's leadership.

Competitor Profile

Market Insights and Dynamics

The additive manufacturing industry is experiencing significant growth, driven by advancements in technology and increasing adoption across various sectors. Evolve's focus on combining traditional manufacturing qualities with additive manufacturing flexibility positions it uniquely in this evolving market.

Competitor Analysis

Evolve faces competition from several companies in the additive manufacturing space:

Cubicure: Develops industrial 3D printing solutions for polymer parts.

Bond3D: Provides 3D printing solutions with a focus on high-performance polymers.

FibreTuff: Offers 3D-printing biocompatible polymer composites.

GEFERTEC: Manufactures 3D printing machinery and equipment.

Strategic Collaborations and Partnerships

Evolve has established strategic partnerships to enhance its market position:

alphacam: In October 2023, Evolve partnered with alphacam to offer STEP-manufactured parts as a service throughout Europe.

Siemens Digital Industries: In 2020, Evolve integrated Siemens' Xcelerator software portfolio with its STEP technology, enhancing its technological capabilities.

Operational Insights

Evolve's STEP technology offers a competitive advantage by providing high-quality, isotropic parts using standard engineering-grade thermoplastics. This capability allows the company to cater to industries requiring durable and precise components, such as automotive and consumer goods. The scalability and cost-effectiveness of STEP technology position Evolve as a viable alternative to traditional manufacturing methods.

Strategic Opportunities and Future Directions

Evolve aims to expand its global footprint by leveraging its innovative STEP technology. The company plans to continue developing new materials and applications, enhancing its product portfolio to meet diverse industry needs. Strategic partnerships and collaborations will play a crucial role in driving growth and adoption of Evolve's solutions in the additive manufacturing market.