Benzinga | Nov 1, 2021 09:04AM EDT

Desktop Metal Triples Manufacturing Capacity For Production System P-50

Desktop Metal (NYSE:DM) today announced the opening of a new in-house manufacturing facility that will more than triple the final assembly space currently dedicated to the Production SystemTM platform to meet robust demand for the world's fastest metal 3D printing technology. This new facility is part of a strategic plan to accelerate the production ramp of Desktop Metal's flagship Production System P-50 printer, for which the Company is engaged in component procurement and assembly of initial builds targeted for shipment in the fourth quarter of 2021.

"After a significant development cycle, we are experiencing growing, pent-up demand for our Production System P-50 solution. As we continue to convert these opportunities, expanding our in-house final assembly capabilities has become a critical step to scaling deployment of our Single Pass Jetting technology," said Ric Fulop, Founder and CEO of Desktop Metal. "This new facility in Massachusetts, in conjunction with our contract manufacturers and suppliers, supports our ability to meet growing demand for high-volume applications. We are now well-positioned to supply our global customers with the fastest metal 3D printing platform to enable cost-effective mass production via additive manufacturing."