German specialty chemicals company Evonik has acquired a minority stake in UnionTech through its Venture Capital unit. This round of investment by Evonik is based on strategic business development considerations. Evonik expects to accelerate the launch of new photopolymer products into the market, especially for the fast-growing Chinese market.
In response to this equity investment, Evonik wrote in the news on its official website:
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, head of the Additive Manufacturing Innovation Growth Field at Evonik.
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.
Bernhard Mohr, head of venture capital at Evonik Ventures, commented: "We expect major technological breakthroughs in light-curing printing technology. Evonik is planning to launch a ready-to-use photosensitive resin for this process. Therefore, this investment is not only based on the consideration of financial return prospects, but more importantly, the application prospects of this process."
Jinsong Ma, General Manager of UnionTech, strategically commented on this cooperation: "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 will continue to be committed to ecological integration, cross-border with capital, empower with knowledge, open market boundaries, connect partners, and co-exist.
ABOUT UNIONTECH
UnionTech is a leading company in the field of SLA 3D printing in China. From 2012 to 2019, UnionTech’s average annual revenue growth rate was as high as 53%, the average annual growth rate of equipment sales reached 80%, and the average annual growth rate of resin sales reached 102%. UnionTech has in-depth layout in 3D printers, high-performance materials, smart factories, and printing collaboration. Based on its rapid development and its strategic consideration of the ecological layout of 3D printing, UnionTech and Evonik successfully reached a win-win cooperation.
ABOUT EVONIK
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.
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/
