Xaar PLC has announced its investment with Stratasys, a global leader in additive manufacturing, to form, Xaar 3D Limited. The alliance aims to develop 3D printing solutions based on High Speed Sintering technologies. The new, Xaar 3D Ltd will leverage Xaar’s High Speed Sintering technology and industrial piezo inkjet printheads, and the commercial and market expertise of Stratasys.
Xaar will hold 85% of Xaar 3D Ltd shares with Stratasys holding 15%. In addition, Stratasys has the option to increase its ownership in Xaar 3D Ltd to a total of 30%. Xaar 3D Ltd will hold all of Xaar’s High Speed Sintering assets. Furthermore, Doug Edwards, Xaar CEO, will be the new chairman of Xaar 3D Ltd
Edwards shared, “We are delighted to launch our partnership with Stratasys. This joint investment in the development of 3D printing technologies reinforces the value created by our R&D. And it continues our plan to diversify Xaar’s business. We are also pleased to be working alongside a leader in the 3D printing space, who recognises the value of Xaar’s technology and expertise.”
According to Scott Crump, chief innovation officer, Stratasys, “We are impressed with the Xaar team’s achievements to date. We believe that the complementary assets of Stratasys and Xaar will enable Xaar 3D Ltd to develop solutions that further address customers’ additive manufacturing requirements for a broader range of production applications.”