- UnionTech is a leading manufacturer of stereolithography-based 3D printers
- Chinese company has extensive experience in manufacturing and distributing 3D printing materials
- New applications for the growth market of high-performance photopolymer resins
Evonik has acquired a minority stake in Chinese company UnionTech through its Venture Capital unit. The Shanghai-based company is active in the field of stereolithography 3D printing. This additive manufacturing technology makes it possible, to produce highly accurate and detailed polymer parts. Bernhard Mohr, head of the Venture Capital unit: "We expect great technical advances in the field of stereolithography. Evonik is preparing the launch of ready-to-use materials for this process. Our investment is therefore not only aimed at a profitable financial return, but above all at new insights in the use of this process." Evonik expects an accelerated market access for the new photopolymer products, especially in the very fast-growing Chinese market, Mohr continued.
In a stereolithography process the part is pulled from a bath of light-curing liquid resin. Laser or display light sources cure the photopolymer layer by layer, resulting in a three-dimensional product. With this method, the production of very complex workpieces is possible, which have a much smoother and firmer structure than with other 3D processes. Typical markets include automotive and aircraft manufacturers as well as industrial parts or special shoes.
Thomas Grosse-Puppendahl, head of the Additive Manufacturing Innovation Growth Field at Evonik, sees the investment as an excellent addition to the existing portfolio. Evonik is preparing the introduction of a set of new formulations to the market as a starting point of the group’s new INFINAM® photopolymers product line. "With the coming up introduction of the new products and the current participation in UnionTech, we are expanding our activities as a reliable partner of the industry in the development and manufacturing of high-performance materials for 3D printing to strengthen our business activities along the important photopolymer technology," says Thomas Grosse-Puppendahl. In addition to the polymer portfolio for powder-based processes and biomaterial filaments for medical technology, Evonik will offer a range of innovative ready-to-use resins for photopolymer-based technologies in order to further diversify the material landscape of the entire 3D printing market, according to Grosse-Puppendahl.
The Innovation Growth Field Additive Manufacturing plays an important role in Evonik’s strategy and is thereby supported by the Venture Capital team. So far, Evonik has invested in multiple companies in the field of additive manufacturing to support the development of this industry. The UnionTech investment perfectly complements Evonik’s existing portfolio of 3D printing activities and is the second 3D investment in China.
UnionTech is the market leader in Asia for ultra-large size industrial printers. The company develops and manufactures printers, supplies printing materials through subsidiaries and offers additive manufacturing as a service provider. This gives the company a complete overview of the 3D applications. UnionTech was founded in the year 2000 and has about 190 employees. Jinsong Ma, General Manager of UnionTech, also welcomes the participation of the specialty chemicals company from a strategic point of view: "Evonik produces materials for all common 3D printing processes. This makes the company an ideal partner to continue to grow with us. This gives us direct access to the materials we need for our customers."
UnionTech is owned by multiple Chinese financial investors as well as the company's management. It was agreed not to disclose the amount of the investment.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €13.1 billion and an operating profit (adjusted EBITDA) of €2.15 billion in 2019. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. More than 32,000 employees work together for a common purpose: We want to improve life, today and tomorrow.
Asia Pacific is a strong driving force of the global economy and an important source of innovation. Consequently Evonik endeavors to further grow its business in the region. Sales reached €2.87 billion in 2019 and the company employs over 5,000 people at more than 50 production sites in Asia Pacific.
ABOUT EVONIK VENTURE CAPITAL
With a fund size of €250 million, Evonik Venture Capital (EVC) has made more than 30 investments since 2012, both direct and fund investments. EVC has offices in Germany, the U.S.A. and China and invests in innovative technologies and disruptive business models in the fields of Nutrition & Care, Specialty Additives and Smart Materials, as well as enabling digital technologies. The EVC team of experienced investment managers provide portfolio companies comprehensive support. The investment scope ranges from early stage to growth stage with investment volume per portfolio company of up to €15 million. http://venturing.evonik.com/
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.