NanoSteel®, the leader in nanostructured steel materials, has announced the spinout of its Additive Manufacturing (AM) business unit into a new corporation named, ‘Formetrix™.’ Led by an industrial leader in Additive Manufacturing and including other investors Cycad Group and SPDG, Formetrix closed its Series A capital raise to accelerate the commercialization of Formetrix’s steel alloys for 3D printing processes.
Formetrix’s metal powder portfolio provides an attractive combination of benefits such as higher hardness, higher ductility and higher wear resistance compared to existing alternatives.
Formetrix was formed to provide new, high performance steel alloys to accelerate the adoption of Additive Manufacturing within the tool and aluminum dye cast industries.
In order to support production customer requests, Formetrix has selected AddUp’s FormUp 350 3D printer. Using the initial FormUp 350 along with additional finishing equipment, Formetrix will continue to expand its service center capabilities.