Essentium, a pioneer in industrial additive manufacturing, is working on a new metal additive manufacturing platform integrated with its High Speed Extrusion technology. This innovative platform aims to significantly enhance the production of high-quality metal parts, offering economic advantages and improved speed. Managed by the EssentiumX team, the project is protected by five patents, with three more pending, and focuses on energy-efficient deposition while minimizing defects. The platform targets major industrial sectors such as automotive and aerospace, aiming to transform current manufacturing practices.
Essentium and Atlantic Coastal Acquisition Corporation have announced a definitive business combination agreement. The merger is expected to finalize around the end of Q1 2022, with the combined entity to be listed on Nasdaq under the ticker 'ADTV.' The transaction values the combined company at approximately $974 million, with $346 million in cash expected after the merger. Essentium, focusing on sustainable manufacturing solutions, has a total addressable market of $209 billion and a customer base that includes the U.S. Department of Defense, offering potential revenue growth of $20 billion.