Spanish metal 3D printer manufacturer ADDiTEC has named Bernard Chung its new Chief Financial Officer (CFO). Chung’s appointment stands out given his previous role as Acting CFO and Vice President of Finance at Velo3D, where he contributed to important financial milestones. In fact, Chung joins ADDiTEC at a pivotal moment in the company’s growth. With Chung on board, the company seeks to strengthen its financial strategy and drive innovation as it grows its customer base and technological offerings​.

ElemX 3D Metal Printer. Image courtesy of ADDiTEC.

Known for its advanced metal 3D printing solutions, particularly through its Laser Wire Directed Energy Deposition (LW-DED) technology, ADDiTEC has opened up new possibilities in industries like aerospace, energy, and defense, where large-scale metal parts are crucial for production. The ability to print multi-material components, often considered a game-changer in the field, positions the company to tackle more complex manufacturing challenges while offering more tailored solutions to its clients.

Chung’s experience in manufacturing, transportation, and technology makes him a good fit to help ADDiTEC improve its financial plans and grow its operations. His previous role at Velo3D highlights this expertise, where from 2020 through May 2024, he led the company through its initial public offering (IPO) via a special purpose acquisition company (SPAC) merger with JAWS Spitfire in September 2021, a deal worth $298 million. His financial leadership also facilitated multiple follow-on funding rounds, including $70 million in convertible debt in August 2023 and further equity raises in late 2023 and early 2024.

This experience guiding a company through its IPO and raising capital are important skills for any CFO. At Velo3D, Chung played a key role in helping the company achieve significant milestones, including its $100 million revenue mark and its rise as a leader in laser-fusion metal powder 3D printing systems. However, Velo3D recently faced challenges, with CEO Benny Buller stepping down in December 2023, shortly before Chung also left.

ADDiTEC at Formnext 2023. Image courtesy of ADDiTEC.

According to ADDiTEC, what truly excited Chung about joining the company was “our amazing team—deeply technical, warm, and genuine. After spending time at our Durham facility, he felt an instant connection and knew these were the people he wanted to work with every day. Bernie [Chung] shares our vision of leveraging cutting-edge technology, such as our unique laser wire-directed energy deposition systems, to drive success and create value for our customers.”

CEO Brian Matthews said Chung’s financial expertise will be instrumental in scaling the company’s operations and pushing forward their development in new markets. The company’s current roadmap includes expanding its technological footprint across Europe and Asia, with potential collaborations in the works for both sectors.

As ADDiTEC continues to grow, the company has also been proactive in addressing some of the industry’s biggest pain points, particularly around production speed and material cost. By fine-tuning its LW-DED systems and launching the AMDroid, a robotic solution optimized for large-scale metal parts, it aims to lower production costs, making metal AM more accessible to a broader range of industries.

With the global push toward more sustainable manufacturing processes, ADDiTEC is also exploring incorporating more eco-friendly materials and energy-efficient methods into its systems. These efforts reflect a broader industry trend toward green manufacturing, where the environmental impact of production is becoming as important as the final product.

One of the key challenges facing the company as it scales is maintaining the high quality and reliability of its systems while increasing production capacity. According to recent company reports, ADDiTEC has invested heavily in R&D, aiming to refine the laser-wire technology at the heart of its additive systems. Its focus on continuous improvement, highlighted by the introduction of systems like the AMDroid, guarantees ADDiTEC remains at the forefront of technological progress in the industry.

ADDiTEC is looking to expand the application of its LW-DED technology through partnerships with companies in various industries. These alliances will help the company enter new markets and gather valuable feedback to refine its offerings. Potential partners may come from sectors like automotive, medical, and oil & gas, where large, customized metal parts are needed.

Innovation is key for companies like ADDiTEC to stand out in the metal 3D printing market, especially as bigger competitors start looking into this technology.