Desktop Metal Expands Capabilities with Forust Acquisition

Desktop Metal has recently announced the integration of a novel wood 3D printing technology, originating from the company known as Forust. Established in 2019, Forust specializes in additive manufacturing solutions tailored for the interior design sector.

The company’s unique, “non-destructive” printing processes had remained relatively unknown, receiving limited media attention prior to this announcement. This low profile likely contributed to its attractiveness as an acquisition target.

Acquisition Details and Timeline

The acquisition of Forust actually took place in October 2020, as documented in a public filing. The total value of the transaction was $2.5 million, with $2 million being paid in cash. Following the acquisition, both companies collaborated closely before formally launching the integrated technology.

Desktop Metal is now presenting Forust as a new manufacturing process within its expanding portfolio. The core of this technology lies in the utilization of cellulose dust and lignin.

These materials are both byproducts of the wood and paper industries, respectively, promoting a sustainable approach to manufacturing.

Forust Technology and Applications

According to Forust co-founder and CEO Andrew Jeffery, “Forust, as part of Desktop Metal, is enabling architects, designers, and manufacturers to utilize forward-thinking technology to reimagine the use of wood waste streams.” He further explains this applies to production runs ranging from single items to millions of units.

The technology allows for the creation of 3D-printed, sustainable wood designs for both businesses and consumers. This facilitates the production of aesthetically pleasing and durable wood products across various industries, including interior design, furniture, and consumer home goods.

Samples and designs are now available online through both companies. Initial product offerings encompass architectural elements, furniture pieces, and household items such as bowls and flower pots.

Future Potential and Additional Acquisitions

Ric Fulop, CEO of Desktop Metal, stated in a press release that “Applications for Forust’s wood parts are truly extensive.” He envisions replacing polymers and plastics with cost-effective, sustainably produced wood components in numerous applications.

These include high-end interior components, consumer electronics, musical instruments, aviation parts, boat building, home goods, and potentially even flooring and roofing materials.

Beyond Forust, filings also reveal that Desktop Metal acquired a “single acquired technology asset” from Figur Machine Tools, a company specializing in sheet metal printing, for $3.5 million.

This occurred prior to Desktop Metal’s announcement in August of its plans to become a publicly traded company through a SPAC merger, which valued the company at $2.5 billion.