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Freemelt business

Business model

We develop advanced 3D printers for metal components, targeting to become the leading supplier in additive manufacturing utilizing E-PBF (Electron Beam Powder Bed Fusion) technology, with a goal of reaching SEK 1 billion in revenue by 2030. Our revenue is primarily generated through the sale of advanced 3D printers at a fixed price, complemented by support and maintenance services that provide recurring revenue, which is expected to account for 25% of total revenue by 2030. Our solutions primarily support companies in the defense, energy, and medical technology sectors in Europe and the United States, enabling them to drive innovation and enhance production efficiency.

To date, our revenues have come from R&D printers, sold at a lower price point, which have been instrumental in proving the concept of our technology while also contributing to cash flow during our development phase. As we transition, our focus is shifting to industrial printers, eMELT® which are priced up to SEK 13 million and designed for both product development and full-scale serial production. This shift is expected to drive volume sales, with multiple units likely to be sold in each order.

We aim to maintain a total gross margin of 60%, driven by the growth in aftermarket services, despite potential price pressure on 3D printers. As we scale, we will continue to evaluate and optimize this model, ensuring sustainable growth and long-term profitability.

Value proposition

We offer three 3D printers based on E-PBF technology, where two printers are designed for industrial production (eMELT®) and one (Freemelt® ONE) is targeting research institutes and universities. The modular industrial printers, eMELT® deliver significantly higher efficiency compared to other machines on the market while maintaining flexibility in metal selection. Through our complete product and service offering, we are positioned as a market-leading productivity partner, providing the most efficient printer per square meter for industrial serial production.

To maximize customer flexibility, we use an open-source software solution. Our focus materials are tungsten, titanium and copper, since they are particularly well-suited for the E-PBF technology. Tungsten with its extreme melting point is ideal for medical technology, semiconductor manufacturing, energy production, and the defense industry, among other areas. Titanium is perfect for orthopedic implants, and the aviation industry, and copper is well suited for various applications, such as defense and energy.

Development and sales strategy

Our strategic focus is to collaborate with research institutes and universities to drive innovation, while engaging directly with industrial manufacturers to meet production demands. These collaborations help advance applications from concept to serial production, where larger order volumes and revenue opportunities exist.

By supporting the customers’ journey towards and through additive manufacturing, we position ourselves as a long-term partner, ensuring smooth transitions and faster time-to-market for industrial end-users in sectors like defense, energy, and medical technology. We support the full development journey from concept to serial production through three key stages.

Feasibility study

Focuses on qualifying selected materials for industrial standards and conducting application testing. (Material qualification and Application testing)

Proof-of-Concept

Involves testing of printed parts and validating business cases for specific industrial applications. (Prototype printing and Production scalability)

Serial production

Once the application is certified for industrial production, we install printers to enable large-scale manufacturing. (Industrialization)

Our three 3D printers support each stage of the process

Freemelt® ONE

Primarily used for feasibility studies.

eMELT®-iD

Supports both feasibility studies and proof-of-concept.

eMELT®-iM

Designed specifically for serial production.

Challenges and risk mitigation

As we continue to develop and grow our business, securing necessary capital will be crucial, which makes us dependent on the capital markets and potentially subject to macroeconomic fluctuations. Tungsten applications offer significant potential, but they represent an untested market, where we are the leading supplier but face inherent risks in adoption. Balancing the demand across both Europe and the U.S. simultaneously within parallel strategic directions also presents operational challenges.

To mitigate these risks, we maintain a cost-conscious approach, supported by strong strategic owners. While tungsten applications represent significant future potential, we also have a presence in the more established titanium-based implant market. The market for 3D printed implants is expected to grow from USD 1.7 billion in 2023 to USD 6.6 billion 20321. This provides us with dual tracks for growth, ensuring both traction and revenue stability in the near term.

Our experienced leadership team, combined with deep technical expertise, positions us well to continue delivering efficient solutions internationally and meet the demands of industrial customers. This operational strength helps us navigate the challenges ahead while focusing on sustainable growth.

Read more

1. Business Research Insight,
https://www.businessresearchinsights.com/market-reports/3d-printed-orthopedic-implants-market-104621

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