BASF invests in Chinese 3D Printing Firm
BASF Venture Capital is taking an unquantified stake in Prismlab, a leading Chinese provider of 3D printing processes and 3D printers headquartered in Shanghai.
This is the BASF innovation fund’s first direct investment in a Chinese company, and the German chemical giant said the investment supports its strategy of actively advancing its technologies and expanding its presence in the 3D printing sector.
At the same time, the capital infusion will allow the Shanghai firm to further accelerate product development and market reach.
Prismlab’s patented Pixel Resolution Enhanced Technology, claimed to have a high printing speed, a high level of precision and lower printing costs, is based on stereolithography (SLA), which BASF said allows large and stable components such as medical braces and anatomical models to be 3D printed for the first time using light-curing (LCD) resins.
According to the Ludwigshafen group, the Chinese technology increases the printing resolution without compromising printing speed. Using LCDs additionally reduces process costs, opening up opportunities in the footwear and furniture industry, it said.
“China is transforming from a manufacturing-driven to an innovation-driven economy. This investment in Prismlab reflects our commitment to further expanding our innovation capabilities in China, and BASF Venture Capital plays an important role in helping us identifying potential partners that lead us to success,” said. Zheng Daqing, BASF’s senior vice president, Business and Market Development Greater China.
Along with the printing process, Prismlab also markets 3D printers and other related services.