Ressurection attempt
3DP War Journal #60
The past few days have brought news of the resurrection of several well-known AM companies. Anzu Partners acquired EnvisionTEC, the newly established company Quantum took over BCN3D, and Austrian energy company SBO acquired 3T Additive Manufacturing in a public auction.
As if that weren’t enough, Velo3D returned to a major stock exchange – Nasdaq – a year after being delisted from the NYSE due to a low share price and relegated to the little-known (and certainly less prestigious) OTCQX Best Market.
So, what now? Is this the dawn of something new? Something better? Is AM’s bad streak ending, and is the industry becoming prosperous again?
Unfortunately, not really… While encouraging at first glance, these latest moves are little more than putting lipstick on a corpse.
Especially when contrasted with Creality’s recent IPO announcement (and the simultaneous disclosure of its official financial results) and what’s happening right now on Kickstarter with Snapmaker’s latest 3D printer.
Against that backdrop, the “resurrections” of the aforementioned companies look quaint. Cute.
First, a quick recap…
EnvisionTEC (ETEC)
I already wrote last week about EnvisionTEC. A company from the Anzu Partners group will acquire EnvisionTec GmbH, following the recent bankruptcy of its previous owner, Desktop Metal. Anzu promises continuity of operations, obligations, and customer service for EnvisionTEC.
The acquisition runs in parallel with purchases of ExOne GmbH and ExOne KK. Anzu is also finalizing the takeover of Voxeljet.
In this case, the bundle of assets acquired by Anzu Partners could, at least in theory, enable the creation of an interesting entity with the advantage of unique technologies and their simultaneous niche positioning.
BCN3D
The situation is quite different with BCN3D. The Spanish company’s assets and operations were acquired by a newly established entity, Quantum. Registered in Lleida, Spain, and supported by local investors, Quantum acquired all BCN3D assets, including headquarters and production facilities, which remain fully operational. The entire team was also retained.
The acquisition, now formally approved, is intended to ensure continuity in product and technology development. The company plans to continue delivering advanced 3D printing solutions for the light industry market, building on previous investments.
Unless some new deal is looming in the background – a large military or institutional contract, for example – nothing here is likely to change. The European market doesn’t really need BCN3D, given plenty of alternatives such as the still-struggling but far superior Ultimaker, not to mention Prusa Research.
3T AM
As for 3T, that’s more of a straightforward asset acquisition to fuel another business’ growth. Austrian group SBO (Schoeller-Bleckmann Oilfield Equipment) is finalizing the acquisition of UK-based 3T Additive Manufacturing, once a leading European supplier of metal AM services.
3T, headquartered in England, specializes in additive production of high-performance metal components for aerospace, medical, and automotive sectors, with a machine park that includes EOS systems.
The company was put up for public auction following the bankruptcy of its previous owner, Italy’s BEAMIT Group, which acquired it in 2021 but later collapsed.
SBO’s takeover, part of its broader push into AM, is aimed at diversifying activities and strengthening its position in advanced manufacturing technologies.
VELO3D
And finally, Velo3D… once an American champion of metal AM, it has returned to a mainstream exchange, listing on Nasdaq after a year of trading on OTCQX, following NYSE delisting. The company issued more than 5.8 million shares at $3 each, raising about $17.5 million. Proceeds are earmarked for working capital, investments, and general corporate purposes.
But this success must be viewed in context. Velo3D entered the stock market in 2021 through a SPAC merger with Kensington Capital Acquisition Corp. II. At its peak, in late 2021, VELO shares traded above $15, giving the company a market cap of nearly $4 billion.
The current offering, at $3 per share and post-reverse split, represents a massive contraction from that historic high.
Don’t get me wrong – this is a positive step toward rebuilding the company and a charming nod to past glory, but… the road back to a billion-dollar valuation is very long, and we’ll have to wait to see how it plays out.
The Chinese perspective
And since we’re on the topic of the stock market, Creality – maker of cheap, desktop-grade 3D printers – also announced plans to go public (in China, of course). To mark the occasion, it released some financial results, which, frankly, likely spoiled the mood for many Western firms.
And it certainly changed the narrative.
Creality – creator of the hugely popular, though often dismissed by professionals, Ender 3 – recorded revenue of about $318 million in 2024. The year before it was $262 million, and two years ago $187 million, representing about +30% revenue growth.
And that’s not all! The company has consistently turned profits: $14.5 million in 2022, $18 million in 2023, and $12.3 million in 2024.
For comparison: in 2024, Stratasys generated revenue of $572.5 million but posted a net loss of –$120.3 million (though non-GAAP net income was +$4.2 million). 3D Systems had revenue of $440.1 million and a net loss of –$255.6 million. Materialise reported ~$289 million in revenue and ~$15 million in profit (values approximate since Materialise reports in euros).
So Creality is, without a doubt, among the industry’s top players (though personally, I expected even higher figures).
Yet Creality is never listed among the “leading” AM companies, nor do its representatives appear onstage at major conferences alongside Yoav Zeif, Jeffrey Graves, Brigitte de Vet-Veithen - not to mention Marie Langer.
Interesting, isn’t it…? 🤔
So the question is: in the context of Creality’s $300+ million in revenue and tens of millions in annual profit, does the “resurrection” of a company like BCN3D really make any sense?
I mean, does this company have any chance of even approaching those figures? Will BCN3D ever reach $100 million in revenue?
Or maybe it doesn’t really matter, because it’s “about something else entirely”? Like “maintaining the competitiveness of the European economy,” etc.
Well, for the European economy – at least in AM – things look even worse… Let’s pause for a moment to look at what’s happening right now on Kickstarter, where Snapmaker is running its crowdfunding campaign for the U1 Color 3D printer.
It’s a super-cheap, multihead FFF printer. Essentially a copy of the WonderMaker ZR Ultra I wrote about recently, and positioned as an alternative to the Prusa XL.
At the time of writing, Snapmaker has raised $11.3 million from more than 12,000 backers. And this is only the beginning – the campaign still has 36 days to go.
As of now, it’s the most-funded 3D printer in Kickstarter history and the 13th most-funded campaign overall. It should break into the top 10 later this week (it only needs about $1 million more).
Before I go further – I’m not a huge fan of this design. While I recognize the company’s big success and the truly record-breaking result it’s heading toward, I don’t see this model as revolutionary. (As I mentioned, WonderMaker offered the exact same concept just three months ago and raised $0.847 million on Kickstarter.) Very soon, we’ll see identical printers branded by Creality and Elegoo. Only then will it become clear who, if anyone, actually succeeds with this technology.
That aside, the real question is: who would you rather invest in, if you had to choose?
Snapmaker with its multicolor FFF printer, or Velo3D with its promise of a revolution in metal AM?
Which company do you think has the brighter future? And which carries greater value – tens of millions raised from customers in a matter of days, or tens of millions raised on the stock market?
Tough questions, right? Maybe that’s why no one’s asking them… You know, “because it makes no sense, because it’s apples to oranges, because they’re different technologies.”
And yes, they are completely different businesses. Desktop FFF is becoming mass-market, while industrial metal AM is – and will remain – niche.
The AM industry today looks like a theater of illusions: on one side, the “revivals” of failed brands and hopeful stock market returns, which can hardly be called real comebacks. On the other, Creality and Snapmaker show that the real money and the real customer base are flowing into cheap, mass-market solutions – not niche premium technologies.
The conclusion? The media darlings of AM are standing still, while the dismissed “toy makers” are growing into the leaders of tomorrow.
#7. 3D Systems announced a change in its financial leadership
3D Systems’ CFO Jeffrey D. Creech will leave the company on August 29, 2025, to pursue a new professional opportunity. Phyllis Nordstrom, currently Executive Vice President and Chief Administrative Officer, will serve as interim CFO from that date. The company emphasizes continuity during its focus on industrializing additive manufacturing solutions.
READ MORE: www.3druck.com
#6. Creality has filed for an IPO on the Hong Kong Stock Exchange
Chinese 3D printing giant Creality has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange. The company, known as a global leader in desktop 3D printer shipments, is backed by a prestigious group of Chinese investors, including Tencent Ventures and state-linked funds. This move aims to solidify its competitive position against rivals like Bambu Lab and fund further expansion. A successful IPO is viewed as a critical test for the entire additive manufacturing industry's attractiveness to public market investors.
READ MORE: www.3dprint.com
#5. Shining 3D has launched new line of wireless, high-precision scanners
Shining 3D has launched the FreeProbe Series, a new line of wireless, high-precision probing solutions. Designed to complement optical 3D scanners, these probes capture precise data in challenging areas like deep holes and blind spots where traditional scanning fails. The series includes two models: the versatile FreeProbe 2 and the advanced FreeProbe 2 Pro for obstructed environments. Key features include multiple tip options, rapid wireless pairing, an ergonomic design, and seamless integration with the company's tracking systems to enhance industrial inspection workflows.
READ MORE: www.voxelmatters.com
#4. Snapmaker debuted on Kickstarter with Snapmaker U1
Snapmaker has launched the Snapmaker U1, a color 3D printer, via a new Kickstarter campaign. The company claims the U1 is five times faster than comparable color printers and uses 80% less filament. An early bird price of $749 is offered, a discount from the standard $899, with shipments expected to begin in October.
READ MORE: www.3dprint.com
#3. Austrian industrial group SBO has acquired UK-based metal AM service bureau 3T Additive Manufacturing
The acquisition was part of the judicial liquidation of 3T's former parent company, BEAMIT. This move transforms SBO from a user of AM technology into a full-scale internal 3D printing service provider. Acquisition diversifies their business and capitalizes on new market opportunities, ensuring 3T's continued operation and expertise in high-performance metal components.
READ MORE: www.voxelmatters.com
#2. Quantum acquires BCN3D’s assets
Spanish company Quantum, backed by local Industry 4.0 investors, has acquired all assets of BCN3D following its May bankruptcy. The acquisition includes its headquarters and production facility, which remain fully operational. The entire BCN3D team has been retained. Quantum aims to ensure continuity, build on existing investments, and strengthen BCN3D's position in delivering advanced 3D printing solutions for the light industrial market. The deal has been formally approved.
READ MORE: www.tctmagazine.com
#1. Velo3D returned to the public market
Velo3D has successfully returned to the public market, listing on the Nasdaq under the ticker "VELO". The company completed a public offering of 5.83 million shares at $3.00 per share, raising approximately $17.5 million. This follows a major restructuring, which included a reverse stock split and being delisted from the NYSE last year after falling below market cap requirements. The net proceeds are intended for working capital, capital expenditures, and general corporate purposes as the refocused company, now emphasizing aluminum and magnesium printing, aims for growth.
READ MORE: www.voxelmatters.com