Continuous Composites
Continuous Composites has announced the closing of its $17 million Series A funding round led by B. Riley Venture Capital (BRVC).
BRVC is renowned for investing in late-stage private growth companies with a path towards public markets. It becomes the latest company to lead a funding round for Continuous Composites, after Arkema and Saint-Gobain S.A. This latest round will support Continuous Composites in commercialising its Continuous Fiber 3D Printing (CF3D) technology, while protecting its patent portfolio.
Continuous Composites is bringing to market a composite 3D printing offering made up of configurable hardware, proprietary software and tailorable material solutions. In order to realise the vision the company had when it started out in 2012, it has aligned with the likes of Arkema, Siemens, Comau and Güdel.
With these partners on board, Continuous Composites was last year able to open its demonstration facility for interested parties to survey the technology, before revealing a series of applications in 2021. First, it used its CF3D technology print structural carbon fibre spars for an Air Force Research Laboratory aircraft wing assembly project, before producing generator components for Siemens Energy. The company also landed a $750k contract with the Department of Defence to additively manufacture an integrated wing spar and rib configuration as a single component.
Harnessing the $17m, Continuous Composites will now look to step up its commercialisation efforts and also advance its patent portfolio.
“This round of financing provides us with the growth capital to address the extraordinary demand from our customers,” commented Continuous Composites CEO Tyler Alvarado. “Over the years, we have taken a purposeful approach toward building breakthrough technology supported by a strong team and intellectual property portfolio, and we welcome Todd and the B. Riley team to our stakeholder group as we advance to the next phase of corporate development.”
“We are thrilled to partner with Tyler and the entire Continuous Composites team as they bring their disruptive technology to market,” commented BRVC President Todd Sims. “We were drawn to Tyler’s vision and leadership, the attractive revenue and margin profile of the business and their blue-chip customers, both industrial and governmental, which we see as clear validation of the CF3D technology.”
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