#3DExpress: New York Stock Exchange to Start Delisting Proceedings Against Velo3D

Now that September is here, the 3D printing market is once again waking up after the summer vacation to prepare for a sure-to-be busy year with major events coming up at the end of 2024 and the beginning of 2025. And with this, there is also the return of our #3DExpress series, where we tell you some of the most interesting tidbits of the news from the week. This time, dive in with the news of the delisting of Velo3D from the New York Stock Exchange, the culmination in a long battle for the company to hold its place, before learning more about EOS and its aim to increase production in the USA. Next, we have the latest releases with the new 3D scanners from Artec3D as well as a new cocoa (yes you read that right!) powder from La Pâtisserie Numérique. Finish it off with Xolo and its new Xube2 3D printer. Happy reading and have a great rest of your weekend!

Velo3D Delisting

Despite valiant efforts by the company in recent months, it seems that Velo3D has had delisting proceedings commenced against it by the New York Stock Exchange (NYSE). Despite much fanfare when it went public back in 2021, Velo3D has been hit hard by the stock market difficulties with a waning 3D printing market. It has attempted to course correct after multiple noncompliance notices but has been found to have fallen below “the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000.” Still, there has been good news from the metal 3D printer manufacturer. Most recently, one of its Sapphire 1MZ metal 3D printers was sold to the National Institute for Aviation Research, one of the main organizations working on furthering the aerospace sector. We will see how this news will affect the wider additive manufacturing market, but for now Velo3D will be moving to the over-the-counter market to OTCQX Best Market.

Photo Credits: Velo3D

EOS to Increase Production in the USA From 2025

EOS recently announced its plans for next year. From the beginning of 2025, the company is planning to manufacture one of its flagship products, the EOS M290 metal system, at its plant in Pflugerville, Austin. With 2,000 units installed worldwide, this metal solution is the most widely used metal solution from EOS. The printing system is used in the medical, aerospace, tooling and energy sectors. Production in the USA will facilitate future deliveries in North America. The M290 system thus joins the successful Integra P450 polymer system, which is already being manufactured in North America. However, it was not only the success of the metal solution that was decisive for this decision, but also political reasons: “EOS has already been in the USA for 14 years. The high demand for our popular EOS M 290 – as well as government policies that encourage the procurement of manufacturing technologies from domestic and US-friendly sources – made the decision to expand production at our growing Texas facility an easy one,” said Kent Firestone, Senior Vice President of Operations, EOS North America.