The Defense Logistics Agency (DLA) has awarded Concurrent Technologies Corporation (CTC) a prime contract worth a potential $15 million to demonstrate the practicality of producing obsolete critical castings through 3D printed sand-casting mold technology. In addition, the project will further develop the science and technology of 3D printed sand-casting molds. CTC will work with subcontractor ExOne, a subsidiary of Desktop Metal (NYSE: DM), as well as the University of Northern Iowa, DLA, and metal casting foundries on the project.

The base year of the contract is worth $4.6 million; four one-year options, if all are exercised, would bring the total value of this effort to a potential $15 million. This project will demonstrate 3D printed molds and cores for sand castings to the DLA supply chain and to foundries, which could then produce the castings that the industry is not currently positioned to make because traditional tooling is no longer available.

Digital casting is enabled by binder jet 3D printing technology. Replacement parts can be cast in tooling printed layer by layer in sand direct from a digital file without making physical patterns.

“Supply chain agility is a core advantage of 3D printing technologies like binder jetting and digital casting allows low or high volumes to be produced efficiently and economically. We’re proud to partner with CTC in this project to address casting obsolescence 3D printed sand molds to ensure defense readiness,” said Ric Fulop, Founder and CEO of Desktop Metal.

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum, named to MIT Technology Review’s list of 50 Smartest Companies, and the 2021 winner of Fast Company’s Innovation by Design Award in materials and Fast Company’s Next Big Things in Tech Award for sustainability. For more information, visit www.desktopmetal.com.

About Concurrent Technologies Corporation (CTC)

Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization. CTC collaborates with its technology transition affiliate, Enterprise Ventures Corporation, to leverage research, development, test and evaluation work to provide transformative, full lifecycle solutions. To best serve our clients’ needs, we offer the complete ability to fully design, develop, test, prototype and build. We deliver robust, technical, and innovative solutions that safeguard our national security, retain U.S. technological advantage, and ensure the primacy of American manufacturing. For more information about CTC, visit www.ctc.com.

Forward-looking Statements

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