Equispheres Secures $20 Million Investment Round

Equispheres Inc., based in Ottawa, announced the initial close of its Series B financing totaling approximately C$20 million. The investment was spearheaded by Martinrea International Inc., a global automotive leader, with additional funds from new institutional investors. The financing round is set to remain open until June 30, 2024.

Equispheres specializes in innovative atomization technology for metal powders, enhancing industrial additive manufacturing. The company claims that its aluminum powders can increase printing speeds up to nine times the industry standards, reducing production costs by as much as 80%. These improvements also include enhanced mechanical properties and increased energy efficiency and safety in additive manufacturing processes.

Kevin Nicholds, CEO of Equispheres, emphasized the transformative potential of additive manufacturing in sectors like automotive, aerospace, and defense, highlighting the productivity leaps enabled by Equispheres' technologies. The company plans to use the new funding to expand its production capabilities and facilities, and to further collaborate on new materials with strategic partners.

Pat D'Eramo, CEO of Martinrea International, praised Equispheres for driving performance improvements and enabling higher-volume applications in additive manufacturing. Nicholds expressed gratitude towards Martinrea for their partnership and towards continuing supporters like the Business Development Bank of Canada and Sustainable Development Technology Canada at this critical stage.