TCT
On the latest episode of the Additive Insight podcast, we're joined by Frank Herzog, the co-founder of Concept Laser and Managing Director of the HZG Group.
Throughout our conversation, Herzog provides insights into the early days of Concept Laser, what it took to build a metal 3D printing business in the noughties, and why the sale to GE Additive in 2016 made sense.
We also discuss his latest venture - the HZG Group, an investment company set up with wife Kerstin that has been launched to support early-stage additive manufacturing companies.
When discussing the thinking behind selling Concept Laser to GE Additive in 2016, Herzog says: "One aspect also, at the end of 2014, I met Elon Musk in 1, Rocket Road in Los Angeles, and he really wanted to meet the German guy with laser melting because we had made some business. And he was also asking me a question afterwards, when he showed me around, he said, 'hey, Frank, you are the only guy at Concept Laser being responsible for everything?' I said, 'yes, indeed. That's the truth.' And he found this a little bit risky, because he mentioned how you're delivering parts to space, to aircraft, to medical, what happens if you fail and something bigger happens, negative? That can be the end of your company. And that was a truth. Our insurance was 10 to 15 million and [if an] implant fails and it's your fault as a company, I think then you're out of the game. So, this was really a complex thought process about risks, our responsibility, about growth, about dynamics, about can we do it as a small company, seeing left and right, big [companies] appearing."
Learn more about 3D printing with DuraForm PAx Black and DuraForm PAx Natural (SLS) from our episode sponsor 3D Systems.
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