Printing Money

<p class="p1">Welcome to <i>Printing Money </i>Episode 35 and let us be the last to wish you a happy new year.</p> <p class="p1">For this episode Danny is joined by Arno Held (Managing Partner, <a href="https://amventures.com/"><span class="s1">AM Ventures</span></a>) and Alex Kingsbury (Market Development Manager, <a href="https://www.nlight.net/"><span class="s1">nLIGHT</span></a>), both certified <i>Printing Money </i>OG’s.</p> <p class="p1">Coming off back-to-back “Troy Jensen” episodes focused on public company earnings reports, there was a lot of 3DP/AM transaction news to cover, so we covered a lot.<span class="Apple-converted-space">  </span>Even still, we can’t cover <a href="http://3dprint.com/"><span class="s1"><i>all</i> the 3D printing business news</span></a>.</p> <p class="p1">Themes from Episode 35 include AI for 3DP/AM (and vice versa) and Australia, Smart M&#38;A, all underlaid by a healthy dose of optimism.<span class="Apple-converted-space">  </span>The episode opens with a look at 2025 through each of our host’s respective lens. Then, it’s a discussion of notable 3DP/AM financings in recent months. Last, Danny, Arno and Alex analyze recent M&#38;A activity.<span class="Apple-converted-space">  </span>After the manic highs and depressive lows of the 2020-2025 3DP/AM business cycle, is the industry signaling a new normal?</p> <p class="p1">Danny, Alex and Arno will all continue the discussion in person at <a href="http://additivemanufacturingstrategies.com/"><span class="s1">AMS 2026</span></a> next month in New York City.<span class="Apple-converted-space">  </span>Meanwhile, please enjoy Episode 35 and check out our <a href="https://podcasts.apple.com/us/podcast/printing-money/id1677763311"><span class="s1">previous episodes</span></a> too.</p> <p class="p1"><i>This episode was recorded January 13, 2026.</i></p> <p class="p1"><b>Timestamps</b>:</p> <p class="p1">00:12 – Welcome to Episode 35, and welcome back to Arno Held and Alex Kingsbury</p> <p class="p1">01:19 – A tale of two halves: The 2025 year in review for the 3DP/AM industry</p> <p class="p1">03:55 – Tariffs and government budgeting uncertainty were a speed bump in 2025</p> <p class="p1">06:30 – 2026 sentiments; European 3DP/AM is not out of the woods but the light is clearing</p> <p class="p1">08:54 – 2020-2025 as a complete cycle for the 3DP/AM markets</p> <p class="p1">09:48 – Poised for success amidst geopolitical uncertainty</p> <p class="p1">12:30 – <a href="https://3dprint.com/321996/euler-raises-e2m-for-ai-fault-detection-in-lpbf/"><span class="s1">Euler raises EUR 2M</span></a> for AI fault detection in LPBF</p> <p class="p1">18:45 – <a href="https://www.metal-am.com/headmades-e1-8m-funding-round-led-by-jet-ventures/"><span class="s1">Headmade raises EUR 1.8M</span></a> to scale its Cold Metal Fusion tech</p> <p class="p1">21:03 – <a href="https://3dprint.com/322134/50m-to-boost-fabric8labs-electrochemical-am-capacity-in-the-u-s/"><span class="s1">Fabric8Labs raises $50M</span></a> to scale its ECAM technology</p> <p class="p3"><span class="s2">23:06 – <a href="https://3dprint.com/323055/velo3ds-space-hardware-win-comes-just-weeks-after-30-million-capital-raise/"><span class="s1">Velo3D (VELO) $30M private placement</span></a> of common stock</span></p> <p class="p1">27:32 – <a href="https://3dprint.com/320883/h3d-raises-5-8m-to-speed-up-custom-dental-hearing-devices/"><span class="s1">H3D raises $5.8M Series A</span></a> for dental and hearables</p> <p class="p1">32:01 – <a href="https://3dprint.com/321726/customed-gets-6-million-for-ai-3d-printed-orthopedics/"><span class="s1">CustoMED raises $6M</span></a> for AI 3DP orthopedics</p> <p class="p1">35:20 – <a href="https://holdson.co.uk/2025/09/25/holdson-secures-1-5m-investment-to-accelerate-growth-of-electroform-technology/"><span class="s1">Holdson raises GBP 1.5M</span></a> for electroform post-processing</p> <p class="p1">36:30 – <a href="https://www.linkedin.com/posts/ascendmanufacturing_ascend-manufacturing-updates-2025-activity-7403845293118705665-2Ekt"><span class="s1">Ascend Manufacturing raises $1M</span></a> for its LAPS technology</p> <p class="p3"><span class="s2">37:36 – <a href="https://3dprint.com/320755/arc-takes-over-desktop-metal-with-a-focus-on-ai-and-u-s-manufacturing/"><span class="s1">Arc Impact acquires Desktop Metal binder jetting (and other) assets</span></a></span></p> <p class="p3"><span class="s2">39:32 – <a href="https://3dprint.com/323069/addman-buys-forecast3d/"><span class="s1">ADDMAN acquires Forecast3D</span></a></span></p> <p class="p3"><span class="s2">41:41 – <a href="https://3dprint.com/321073/caracol-acquires-webers-3d-printing-assets/"><span class="s1">Caracol acquires AM assets/IP from Hans Weber</span></a></span></p> <p class="p3"><span class="s2">45:12 – <a href="https://3dprint.com/321661/dyemansion-buys-asm-in-smart-move-into-entry-level-post-processing/"><span class="s1">DyeMansion acquires ASM</span></a></span></p> <p class="p3"><span class="s2">47:16 – <a href="https://3dprint.com/321903/tier-1-auto-supplier-angstrom-group-acquires-3d-printed-tooling-specialist-mantle/"><span class="s1">Mantle acquired by Angstrom Group</span></a></span></p> <p class="p3"><span class="s2">49:37 – <a href="https://3dprint.com/322369/sintokogio-buys-boschs-ceramics-unit-plans-global-am-expansion/"><span class="s1">Sintokogio buys Bosch’s ceramics unit</span></a></span></p> <p class="p3"><span class="s2">54:02 – <a href="https://www.metal-am.com/niobium-am-specialist-thrustworks-acquired-by-the-exploration-company/"><span class="s1">Thrustworks acquired by The Exploration Company</span></a> for Niobium AM</span></p> <p class="p1">57:58 – Thank you to Alex and Arno, thank you All for listening, and Disclaimer</p> <p class="p1"><b>Disclaimer:</b><b></b></p> <p class="p1"><i>This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing stated on this podcast constitutes a solicitation, recommendation, endorsement, or offer by the hosts, the organizer or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.  The information on this podcast is of a general nature that does not address the circumstances and risk profile of any individual or entity and should not constitute professional and/or financial advice. Referenced transactions are sourced from publicly available information.</i><i></i></p> <p class="p1"><i>Danny Piper is a registered representative of Finalis Securities LLC, member FINRA/SIPC. This material has been prepared for information and educational purposes only, and it is not intended to provide, nor should it be relied on for tax, legal, or investment advice. Investors should consult with their own tax, legal, and financial professionals before investing. Real estate investments are generally highly risky. They can be volatile, unpredictable, illiquid, and are subject to ebbs and flows and market shifts. Investors also risk the loss of all principal investments.</i></p>

<p class="p1">Welcome to <i>Printing Money </i>Episode 34, or “The one where they got back ahead of the curve.&#8221;<span class="Apple-converted-space"> </span>Troy Jensen (Managing Director, <a href="https://www.cantor.com/our-business/research/"><span class="s1">Cantor Fitzgerald</span></a>) returns for back-to-back appearances in the name of delivering to you, the listener, analysis as timely as possible.</p> <p class="p1">Herein, Danny and Troy review Q3 2025 3DP/AM public market earnings, but this episode was recorded just a week after <a href="https://formnext.mesago.com/frankfurt/en.html"><span class="s1">Formnext 2025</span></a>, so the conversation starts with a review of the 3DP/AM industry’s largest annual tradeshow. Large format polymer, LPBF Metals, China, Defense, Aerospace, and High-Temp FFF are all keywords.</p> <p class="p1">Next comes the classical Q3 2025 analysis. The number of significant pureplay public 3DP/AM firms has gotten smaller, and with Nano Dimension (NNDM) currently in limbo, its earnings become less relevant and the number is even smaller.<span class="Apple-converted-space">  </span>Stratasys’ entrance into metal AM, 3D Systems’ healthcare and defense segments, scaling manufacturing at Materialise, and gross margins at Velo all get due coverage.</p> <p class="p1">Happy holiday season, and please enjoy Episode 34 and check out our <a href="https://podcasts.apple.com/us/podcast/printing-money/id1677763311"><span class="s1">previous episodes</span></a> too.</p> <p class="p1"><i>This episode was recorded December 2, 2025.</i></p> <p class="p1"><b>Timestamps</b>:</p> <p class="p1">00:12 – Welcome to Episode 34, and welcome back to Troy Jensen (Cantor Fitzgerald)</p> <p class="p1">00:35 – Formnext 2025 impressions: A touch of optimism, with strength in metals, aerospace &#38; defense, and from China.</p> <p class="p1">04:01 – Ultra low-cost LPBF: China’s biggest 3DP competition comes from within?</p> <p class="p3"><span class="s2">06:10 – <a href="https://3dprint.com/322419/3d-printing-news-briefs-11-29-2025/"><span class="s1">Nikon SLM Solutions (Nikon: 7771.JP) shows off momentum</span></a>, brings massive printer to Formnext</span></p> <p class="p3"><span class="s2">07:40 – <a href="https://3dprint.com/322166/eos-launches-m4-onyx-3d-printer-at-formnext-2025/"><span class="s1">EOS flexes, launches its M4 Onyx metal printer at Formnext</span></a></span></p> <p class="p3"><span class="s2">09:15 –<a href="https://3dprint.com/322397/3d-printing-news-briefs-11-27-2025/"><span class="s1"> nLIGHT and Dyndrite help power EOS</span></a></span></p> <p class="p3"><span class="s2">10:39 – <a href="https://3dprint.com/321573/3d-printing-news-briefs-10-25-2025/"><span class="s1">XACT Metal had a busy booth</span></a> at Formnext</span></p> <p class="p1">11:42 – HP (HPQ) launches a high-temp FFF 3D printer at Formnext, looking to expand lines through consolidation?</p> <p class="p3"><span class="s2">14:21 – <a href="https://3dprint.com/322106/carbon-dls-boosted-by-60m-in-latest-funding-round/"><span class="s1">Carbon raises $60M</span></a></span></p> <p class="p3"><span class="s2">17:24 – <a href="https://3dprint.com/321402/40m-round-propels-caracols-large-format-3d-printing-ambitions/"><span class="s1">Caracol raises $40M Series B</span></a></span></p> <p class="p1">19:38 – Formlabs demonstrating healthy growth</p> <p class="p3"><span class="s2">20:55 – <a href="https://3dprint.com/321954/3d-printing-financials-stratasys-holds-its-ground-as-tariffs-drag-down-margins/"><span class="s1">Stratasys (SSYS) Q3 2025 earnings analysis</span></a></span></p> <p class="p1">22:41 – <a href="https://3dprint.com/322233/stratasys-adds-metal-ceramic-with-tritone-investment/"><span class="s1">Stratasys invests in Tritone</span></a>, dipping into metals</p> <p class="p3"><span class="s2">26:00 – <a href="https://3dprint.com/321930/3d-printing-financials-3d-systems-sees-signs-of-stabilization-as-new-hardware-sales-lift-outlook/"><span class="s1">3D Systems (DDD) Q3 2025 earnings analysis</span></a></span></p> <p class="p3"><span class="s2">28:06 – <a href="https://3dprint.com/321720/3d-printing-financials-another-strong-quarter-for-materialises-medical-segment/"><span class="s1">Materialise (MTLS) Q3 2025 earnings analysis</span></a></span></p> <p class="p1">31:10 – “In Europe, Olive is the new green”</p> <p class="p3"><span class="s2">33:10 – <a href="https://3dprint.com/322045/3d-printing-financials-velo3d-lists-on-nasdaq-and-tightens-its-path-to-profitability/?utm_source=3DPrint.com+Daily+Newsletter&#38;utm_campaign=7ebb3cb4be-3dprint_daily_newsletter&#38;utm_medium=email&#38;utm_term=0_8ba29602e9-7ebb3cb4be-72786390"><span class="s1">Velo3D (VELO) Q3 2025 earnings analysis</span></a></span></p> <p class="p1">35:06 – Thanks again to Troy and thank you all for listening!</p> <p class="p1"><b>Disclaimer:</b><b></b></p> <p class="p1"><i>This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing stated on this podcast constitutes a solicitation, recommendation, endorsement, or offer by the hosts, the organizer or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.  The information on this podcast is of a general nature that does not address the circumstances and risk profile of any individual or entity and should not constitute professional and/or financial advice. Referenced transactions are sourced from publicly available information.</i><i></i></p> <p class="p1"><i>Danny Piper is a registered representative of Finalis Securities LLC, member FINRA/SIPC. This material has been prepared for information and educational purposes only, and it is not intended to provide, nor should it be relied on for tax, legal, or investment advice. Investors should consult with their own tax, legal, and financial professionals before investing. Real estate investments are generally highly risky. They can be volatile, unpredictable, illiquid, and are subject to ebbs and flows and market shifts. Investors also risk the loss of all principal investments.</i></p>

<p>Welcome to <em>Printing Money </em>Episode 33!</p> <p>Troy Jensen (Managing Director, <a href="https://www.cantor.com/our-business/research/">Cantor Fitzgerald</a>) returns in joining Danny to help our audience analyze the Q2 2025 earnings season.</p> <p>Danny and Troy parse the financials and offer impactful analysis of earnings reports from DDD, SSYS, MTLS, NNDM, and <a href="https://nikon-slm-solutions.com/">Nikon SLM Solutions</a> (Nikon: 7731.JP), guidance from <a href="https://www.eos.info/es">EOS</a> and <a href="https://formlabs.com/?srsltid=AfmBOoruhfLwCaL_3tqYQaQhpngdXn7RGu1hiC2ITnaKMJbxboXQPiYI">Formlabs</a>, and a lot more.</p> <p>Danny opens the episode noting some recent notable private financings and Troy picks up on that noting recent uplift in public 3DP/AM companies’ pricing.  Despite that uplift, one theme of this episode is the far healthier multiples that <a href="https://3dprint.com/320702/how-china-is-reshaping-advanced-manufacturing/">Chinese</a> 3DP/AM companies enjoy in their market. Other themes include the <a href="https://www.nano-di.com/">Nano Dimension</a> unwind and speculation on a landing place for Markforged, and reshoring and aerospace/defense as drivers for the 3DP/AM industry,</p> <p>We are reviewing Q2 2025 reporting, yet we are already in Q4 &#8212; maybe President Trump might actually temper the <a href="https://www.cnbc.com/2025/09/15/trump-advocates-that-companies-stop-reporting-earnings-on-a-quarterly-basis-.html">quarterly reporting hamster wheel.</a>  Perhaps while the President is at it, he could also mandate more punctual reporting so we can really stay current here on the <em>Printing Money </em>pod.</p> <p>Jokes and light tone aside, we encourage you to listen to this and all <em>Printing Money </em>episodes for informed and incisive coverage of the 3DP/AM markets.</p> <p>Please enjoy Episode 33 and check out our <a href="https://podcasts.apple.com/us/podcast/printing-money/id1677763311">previous episodes</a> too.</p> <p><em>This episode was recorded October 16, 2025.</em></p> <hr /> <p><strong>Timestamps:</strong></p> <p>00:12 – Welcome to Episode 33 and welcome back to Troy Jensen</p> <p>00:30 – Notable private financings since Troy last joined <em>Printing Money </em>in July (<a href="https://3dprint.com/320760/divergent-raises-290-million-beyond-the-numbers/">Divergent $290M</a>, <a href="https://3dprint.com/321402/40m-round-propels-caracols-large-format-3d-printing-ambitions/">Caracol $40M</a>)</p> <p>01:07 – The public AM markets since July, and already looking at 2026</p> <p>02:48 – <a href="https://3dprint.com/319928/3d-printing-financials-3d-systems-turns-profit-amid-revenue-decline/">3D Systems (DDD) Q2 2025 earnings analysis</a> and the Align (ALGN) story</p> <p>06:01 – Fair market value? DDD stock price has improved since July</p> <p>08:41 – <a href="https://3dprint.com/319577/3d-printing-financials-materialise-stays-profitable-in-q2-thanks-to-medical-division/">Stratasys (SSYS) Q2 2025 earnings analysis</a>; profitable, with lower guidance</p> <p>11:24 – A tale of two multiples; Publicly traded Chinese 3D printing companies vs US counterparts</p> <p>11:54 – Formlabs company analysis; not publicly traded but <a href="https://3dprint.com/311990/bostons-additive-edge-max-lobovskys-vision-pushing-formlabs-forward/">growth worth tracking</a></p> <p>13:08 – <a href="https://www.nikon.com/company/ir/ir_library/result/pdf/2026/26first_all_e.pdf?250808">Nikon SLM Solutions update</a>; growth and profitability?</p> <p>14:05 – EOS update; metals growth, polymers more stagnant</p> <p>15:11 – Metal AM services scarcity in Europe; at least <a href="https://3dprint.com/320852/printing-money-episode-32-3d-printing-deal-analysis-with-tali-rosman/">3T will live on at SBO</a></p> <p>16:34 – More on multiples: <a href="https://www.fabbaloo.com/news/whos-the-biggest-in-3d-printing-september-4-2025">Farsoon and BLT</a> with “healthy” multiples</p> <p>19:11 – Nano Dimension (NNDM) update; <a href="https://3dprint.com/320653/new-ceo-to-lead-strategic-overhaul-at-nano-dimension/">change of CEO, <em>again</em>; activist investors are in charge now</a></p> <p>22:55 – <em>Speculation only</em>: Could Nano Dimension end up in Stratasys’ hands?</p> <p>24:27 – <a href="https://3dprint.com/319577/3d-printing-financials-materialise-stays-profitable-in-q2-thanks-to-medical-division/">Materialise (MTLS) Q2 2025 earnings analysis</a></p> <p>26:50 – European growth in aerospace &#38; defense bodes well for AM</p> <p>27:27 – Looking ahead to a Q3 review pretty soon, and expectations for Q4</p> <p>28:32 – See you in a few weeks at <a href="https://formnext.mesago.com/frankfurt/en.html">Formnext 2025 in Frankfurt</a></p> <p>28:46 – Thanks again to Troy, and thanks for listening!</p> <hr /> <p><strong>Disclaimer:</strong></p> <p><em>This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing stated on this podcast constitutes a solicitation, recommendation, endorsement, or offer by the hosts, the organizer or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.  The information on this podcast is of a general nature that does not address the circumstances and risk profile of any individual or entity and should not constitute professional and/or financial advice. Referenced transactions are sourced from publicly available information.</em></p> <p><em>Danny Piper is a registered representative of Finalis Securities LLC, member FINRA/SIPC. This material has been prepared for information and educational purposes only, and it is not intended to provide, nor should it be relied on for tax, legal, or investment advice. Investors should consult with their own tax, legal, and financial professionals before investing. Real estate investments are generally highly risky. They can be volatile, unpredictable, illiquid, and are subject to ebbs and flows and market shifts. Investors also risk the loss of all principal investments.</em></p>

<p>Welcome to <em>Printing Money </em>Episode 32! <a href="https://en.wikipedia.org/wiki/List_of_Friends_episodes#Episodes">Also known as</a> <em>“The one with the 61x Multiple.”</em></p> <p>Danny’s guest for this episode is <a href="https://3dprint.com/304099/printing-money-episode-11-additive-manufacturing-ma-and-vc-with-tali-rosman/">Tali Rosman</a> (<a href="https://rhh.group/">RHH Advisory</a>). Tali last joined as <a href="https://3dprint.com/315623/printing-money-episode-25-deals-analysis-with-arno-held-am-ventures-and-tali-rosman/">a guest back in January</a> and has been busy advising startups and brokering transactions since.</p> <p>So first, Danny and Tali discuss Tali’s recent experiences in dealmaking and at events such as <a href="https://www.fabtechexpo.com/">FABTECH</a>. They consider the China factor and the wherewithal of the US Defense-Industrial Base to keep pace.</p> <p>Then, Danny and Tali get to it. They analyze recent industry transactions with an eye towards earnings (or lack thereof) and multiples (sometimes reasonable, sometimes 61x). There is discussion of IPOs in Korea and China, of PIPEs in the United States and Australia, and questionable transactions originating out of Sweden. Danny and Tali also cover notable deals in the <a href="https://additivemanufacturingresearch.com/reports/3d-printing-for-dentistry-2025-market-study-forecast/">dental 3DP market</a>. The episode rounds out with some corporate news, both good (from RICOH) and bad (from Arburg).</p> <p>Danny often delivers memorable one-liners, but in Episode 32, Tali steals the quip show with hits like, <em>“You don’t need an IP moat when you have a flood,”</em> and “<em>You can’t out-China China”.</em></p> <p>Please enjoy Episode 32 and check out our <a href="https://podcasts.apple.com/us/podcast/printing-money/id1677763311">previous episodes</a>, too.</p> <p><strong>This episode was recorded September 15, 2025.</strong></p> <hr /> <p><strong>Timestamps</strong>:</p> <p>00:12 – Welcome to Episode 32, and welcome back to Tali Rosman</p> <p>00:58 – Tali’s take on 2025 so far</p> <p>02:47 – Defense tech infrastructure is slow, but getting more nimble</p> <p>03:32 – The bull case for AM in reshoring</p> <p>06:24 – <a href="https://3dprint.com/320309/korean-graphy-goes-public/?utm_source=dlvr.it&#38;utm_medium=linkedin">Graphy (318060-KQ) goes public in Korea</a></p> <p>08:45 – 3DP materials companies doing well in public markets; <a href="https://www.barrons.com/market-data/stocks/mpw?countrycode=au">Metal Powder Works (MPW-ASX)</a>, <a href="https://www.google.com/url?sa=t&#38;source=web&#38;rct=j&#38;opi=89978449&#38;url=https://www.barrons.com/market-data/stocks/ipx&#38;ved=2ahUKEwiInuHk_92PAxVwFVkFHSpYCLEQFnoECBoQAQ&#38;usg=AOvVaw2P8_BMVY3I3kmO5ezYZz14">IperionX (IPX – NASD)</a>, et al</p> <p>09:19 – <a href="https://3dprint.com/320114/creality-to-go-public/">Creality going public in China</a></p> <p>11:46 – Low-priced competition from <a href="https://3dprint.com/312182/stratasys-vs-bambu-lab-a-3d-printing-patent-dispute-with-far-reaching-implications/">Bambu Labs</a>, and more low-priced competition coming (see: <a href="https://3dprint.com/320477/fibreseeker-3-the-worlds-first-continuous-fibre-3d-printer-for-the-consumer-launches-on-kickstarter/">Fibre Seek</a> and more)</p> <p>13:57 – <a href="https://www.norsktitanium.com/media/press/norsk-titanium-as-private-placement-successfully-completed-3">PIPE financing of $18m for Norsk Titanium</a> (<a href="https://www.barrons.com/market-data/stocks/nti?countrycode=no">NTI – NO</a>)</p> <p>15:27 – DED now is where LPBF was in 2025 (see: FormAlloy, Big Metal Additive, Lincoln Electric, Trumpf, and more)</p> <p>17:49 – <a href="https://www.nasdaq.com/press-release/amaero-secures-50-million-accelerate-growth-initiatives-2025-08-21">Amaero launches PIPE deal for up to AUM 53M</a> (<a href="https://www.google.com/url?sa=t&#38;source=web&#38;rct=j&#38;opi=89978449&#38;url=https://www.barrons.com/market-data/stocks/3da%3Fcountrycode%3Dau&#38;ved=2ahUKEwj04sL4g96PAxU7EVkFHfcPK64QFnoECBwQAQ&#38;usg=AOvVaw0CyG9b3OYACbg2jKeDVg-l">3DA – ASX</a>)</p> <p>20:32 – <a href="https://3dprint.com/320760/divergent-raises-290-million-beyond-the-numbers/">Divergent Series E of $290M at $2.3B valuation</a></p> <p>27:11 – <a href="https://3dprint.com/320657/former-hexagon-ceo-ola-rollen-sells-final-shares-to-back-divergent-dagens-industri-reports/">Former Hexagon CEO sells Hexagon shares to back Divergent</a> (<a href="https://www.barrons.com/market-data/stocks/hexa.b/interactive-chart?countrycode=se">HEXA.B – ST</a>)</p> <p>27:28 – <a href="https://rochefort.us/">Rochefort: The Kyle Bass connection</a></p> <p>27:59 – <a href="https://ampdlabs.com/about/">AmPd Labs $2M seed round</a></p> <p>31:15 &#8211; <a href="https://www.tctmagazine.com/additive-manufacturing-3d-printing-news/sbo-acquisition-3t-additive-manufacturing/">SBO AG (owner of Knust-Godwin) to acquire 3T for GBP 4.76M</a></p> <p>34:32 – 3DPOD shoutout: <a href="https://3dprint.com/266437/3dpod-episode-25-velo3d-knust-godwin-and-3d-printing-in-the-oil-gas-industry/">Knust-Godwin interview from 2020</a></p> <p>35:22 – <a href="https://3dprint.com/320463/pac-dent-buys-ackuretta/">Pac-Dent acquires Ackuretta</a> for dental 3DP</p> <p>38:31 – <a href="https://3dprint.com/320497/dental-3d-printing-specialist-sprintray-acquires-envisiontecs-dental-portfolio/">SprintRay acquires EnvisionTEC dental portfolio</a></p> <p>41:25 &#8211; <a href="https://3dprint.com/320559/swissto12-buys-hanwha-phasors-antenna-assets-and-ip/">SwissTo12 Buys Hanwha Phasor’s Antenna Assets and IP</a> for 3DP RF components</p> <p>46:06 – <a href="https://www.coral3dcp.com/news/leading-czech-players-construction-and-automation-join-forces-around-breakthrough-3d-concrete-printing-technology">Coral Construction Technologies acquired by MTX Group and Purposia Group</a> for concrete 3DP</p> <p>48:23 – <a href="https://www.ricoh-usa.com/en/newsroom/ricoh-establishes-ricoh-3d-for-healthcare-llc">Ricoh spins out Ricoh 3D for Healthcare</a></p> <p>49:32 – <a href="https://3dprint.com/320661/arburg-to-leave-3d-printing-analysis/">RIP: Arburg dropping its 3D printing business</a></p> <p>51:33 – Thanks again to Tali, and thank you for listening</p> <hr /> <p><strong>Disclaimer:</strong></p> <p><em>This content is for informational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing stated on this podcast constitutes a solicitation, recommendation, endorsement, or offer by the hosts, the organizer, or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. The information on this podcast is of a general nature that does not address the circumstances and risk profile of any individual or entity and should not constitute professional and/or financial advice. Referenced transactions are sourced from publicly available information.</em></p> <p><em>Danny Piper is a registered representative of Finalis Securities LLC, member FINRA/SIPC. This material has been prepared for information and educational purposes only, and it is not intended to provide, nor should it be relied on for tax, legal, or investment advice. Investors should consult with their own tax, legal, and financial professionals before investing. Real estate investments are generally highly risky. They can be volatile, unpredictable, illiquid, and are subject to ebbs and flows and market shifts. Investors also risk the loss of all principal investments.</em></p>

<p><em>Printing Money </em>Episode 31 is here!</p> <p>Danny’s guest for this episode is <a href="https://3dprint.com/318275/talent-needed-eoss-alefeld-the-us-navys-rettaliata-discuss-why-theyre-teaming-up-to-train-the-3d-printing-workforce/">Fabian Alefeld</a> (Director Business Development &#38; Academy, Global Additive Minds &#124; <a href="https://www.eos.info/">EOS</a> North America, and Podcast Host, Additive Snack).  Fabian’s title is a mouthful, but his efficiency in 3DP/AM industry analysis is impressive.</p> <p>Fabian and Danny are efficient, but a lot of deals have accrued for discussion, so this episode is hefty, clocking in at 71 minutes.  First, they talk a bit about what Fabian does at EOS.  Then the conversation zooms out and brushes on significant trends in the 3DP/AM market.  This sets the stage for a perfectly executed (yes, 10.0) dive into recent deals, financings, bankruptcies, and more.</p> <p>Even in the twenty-four hours since recording this episode, there has been some notable 3D printing market action.  As Danny notes in his closing thoughts, a new cycle may be nigh.  In any case, <em>Printing Money</em> looks forward to covering the 3DP/AM deals to come.</p> <p>Please enjoy Episode 31 and check out our <a href="https://podcasts.apple.com/us/podcast/printing-money/id1677763311">previous episodes</a>, too.</p> <p><em>This episode was recorded August 19, 2025.</em></p> <hr /> <p><strong>Timestamps:</strong></p> <p>00:12 – Welcome to Episode 31, and welcome to our guest, Fabian Alefeld (EOS)</p> <p>01:10 – What is <a href="https://www.eos.info/enablement/expert-guidance">Additive Minds</a>?</p> <p>03:25 – What is <a href="https://www.eos.info/enablement/expert-guidance/training-education">Additive Minds Academy</a>?</p> <p>04:32 – <a href="https://us.store.eos.info/products/metal-am-masterclass">NASA and EOS in-person Master Class</a></p> <p>05:16 – <a href="https://www.eos.info/content/podcast">Additive Snack podcast</a></p> <p>07:06 – Fabian’s AM journey and focus</p> <p>10:30 – AM is a mile wide and a mile deep, but metal LPBF has been a bright spot</p> <p>11:30 – The bigger picture in AM before diving into recent deals</p> <p>15:32 – <a href="https://3dprint.com/320117/bcn3d-is-saved/">BCN3D falters, but saved by investor group</a></p> <p>20:41 – <a href="https://3dprint.com/319042/israeli-3d-printing-software-startup-castor-files-for-liquidation/">Castor files for liquidation</a></p> <p>25:32 – <a href="https://3dprint.com/319542/systemic-bio-closes-but-founder-taci-pereiras-mission-continues/">3D Systems spinout Systemic Bio shutters</a></p> <p>30:11 – <a href="https://3dprint.com/317872/after-failed-sale-voxeljet-turns-to-germanys-rescue-law/">Voxeljet through the wringer – failed buyout by Anzu</a></p> <p>33:52 – <a href="https://3dprint.com/319669/desktop-metal-bankruptcy-analysis-karma-police/">Nano Dimension sends Desktop Metal into bankruptcy</a></p> <p>34:30 – <a href="https://www.metal-am.com/desktop-metal-files-for-chapter-11-bankruptcy-plans-asset-sale-to-anzu/">Anzu Partners purchases ExOne and more from Desktop Metal</a></p> <p>37:21 – Speculation only: Might Anzu flip the Aidro asset?</p> <p>38:13 – <a href="https://www.tctmagazine.com/additive-manufacturing-3d-printing-news/latest-additive-manufacturing-3d-printing-news/admatec-and-formatec-rise-again-under-leadership-of-co-founder/">Admatec and Formatec rescue themselves after Nano Dimension divestiture</a></p> <p>38:52 – <a href="https://3dprint.com/319226/stratasys-buys-nexa3d-assets-as-market-shifts-from-startups-to-giants/">Stratasys acquires Nexa3D assets</a> and more</p> <p>43:04 – <a href="https://3dprint.com/319238/analysis-trumpf-sells-additive-manufacturing-business-to-leo-iii-fund/">Trumpf sells its AM business to a German PE firm</a></p> <p>47:57 – <a href="https://3dprint.com/318075/mx3d-gets-e7-m-for-waam/">MX3D raises EUR 7M Series A</a> for Wire-Arc AM</p> <p>50:14 – <a href="https://3dprint.com/318292/insight-surgery-investment-fda-clearance/">Insight Surgery raises $2.5M</a> for surgical guides</p> <p>52:54 – <a href="https://3dprint.com/318985/3d-printed-footwear-startup-koobz-lands-7-2m-in-seed-round/">Koobz raises $7.2M seed round</a> for 3D printed footwear</p> <p>57:56 – <a href="https://3dprint.com/319288/novenda-secures-6-1-m-series-a-for-dental-3d-printing/">Novenda raises $6.1M</a> for dental 3D printing</p> <p>59:30 – <a href="https://3dprint.com/319407/3d-printed-drone-accelerator-firestorm-labs-continues-its-tear-with-47m-series-a/?utm_source=3DPrint.com+Daily+Newsletter&#38;utm_campaign=b3073e4813-3dprint_daily_newsletter&#38;utm_medium=email&#38;utm_term=0_8ba29602e9-b3073e4813-72786390">Firestorm Labs raises $47M Series A</a> for 3D printing drones</p> <p>1:07:29 – <a href="https://3dprint.com/319429/carlsmed-to-go-public-in-101-million-bid-to-scale-3d-printed-spine-implants/?utm_source=3DPrint.com+Daily+Newsletter&#38;utm_campaign=8c518fdff8-3dprint_daily_newsletter&#38;utm_medium=email&#38;utm_term=0_8ba29602e9-8c518fdff8-72786390">Carlsmed raises $101M in IPO</a></p> <p>1:09:54 – This time with optimism; closing thoughts</p> <p>1:10:31 – Thank you to Fabian, and thank you for listening!</p> <hr /> <p><strong>Disclaimer:</strong></p> <p><em>This content is for informational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing stated on this podcast constitutes a solicitation, recommendation, endorsement, or offer by the hosts, the organizer, or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.  The information on this podcast is of a general nature that does not address the circumstances and risk profile of any individual or entity and should not constitute professional and/or financial advice. Referenced transactions are sourced from publicly available information.</em></p> <p><em>Danny Piper is a registered representative of Finalis Securities LLC, member FINRA/SIPC. This material has been prepared for information and educational purposes only, and it is not intended to provide, nor should it be relied on for, tax, legal, or investment advice. Investors should consult with their own tax, legal, and financial professionals before investing. Real estate investments are generally highly risky. They can be volatile, unpredictable, illiquid, and are subject to ebbs and flows and market shifts. Investors also risk the loss of all principal investment.</em></p>