Lego Brand and Stanley Black and Decker Investment

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Consortium of strategic investment partners will propel the company’s’ STEP manufacturing technology toward commercialization.

Evolve Additive Solutions Inc., whose Selective Thermoplastic Electrophotographic Process (STEP) technology will apparently improve manufacturing while creating disruptive new business models, recently announced the completion of an equity investment of $19M led by the Lego Brand Group with participation from Stanley Black and Decker Investments and a third undisclosed investor.

STEP, designed for automated manufacturing and factory-floor integration, enables users to utilize production-grade thermoplastics for volume manufacturing applications across multiple industries, including consumer, automotive, industrial and medical. The highly scalable and extensible solution combines Evolve’s own proprietary technology with the proven capability of electrophotography, to produce additive manufactured parts that meet or exceed traditionally manufactured parts.

Other investors in Evolve Additive Solutions Inc. include Stratasys Inc. as a minority shareholder as well as an undisclosed investor. BNP Paribas acted as exclusive financial advisors to Evolve. The senior management team of Evolve Additive Solutions contributes over 40 years of combined experience in additive manufacturing and is supported by a very experienced Board of Directors with expertise in managing and counseling both private and publicly-held companies.