VulcanForms is set to expand its operations with the construction of a new factory in Devens, which will create over 1,000 new jobs. This 1-million-square-foot facility will enhance its capacity to produce metal parts using 3D printing technology, aiming to serve various industries including aerospace, medical devices, and consumer goods.<\/p>\n
Founded in 2015 as a spinout from the Massachusetts Institute of Technology, the company utilizes advanced 3D printing techniques to manufacture parts directly for customers rather than selling its machines. This differentiates it from competitors like Markforged and Formlabs. VulcanForms has produced an array of items, from titanium components for AI technology to parts for artificial hip implants.<\/p>\n
The initiative received a significant boost from the Massachusetts Economic Assistance Coordinating Council, which awarded VulcanForms a $21.3 million tax credit during a recent meeting. This financial backing follows a $220 million investment round the company completed in January, which was led by Eclipse Ventures and 1789 Capital. VulcanForms already operates another factory in Devens and one in Newburyport, showcasing its commitment to increasing production capabilities in the region.<\/p>\n