Lockheed Martin to invest US$5M in Ottawa material sciences startup Equispheres

Kevin Nicholds
Kevin Nicholds

One of the United States’ largest defence contractors is investing US$5 million in an Ottawa-based material sciences startup with ambitions to take 3D printing to the next level.

Lockheed Martin announced Thursday it would put a multimillion-dollar capital injection into Ottawa’s Equispheres to accelerate the local firm’s research and development on its unique product, a high-quality metal powder with applications in the aerospace industry and beyond.

Equispheres’ powder is formed of free-flowing spherical and uniformly-sized particles. The metallic substance can be used in 3D printing to create more stable structures than today’s industry standards, the firm says.

OBJ360 (Sponsored)

In a release, the Ottawa company says Lockheed Martin’s investment will allow it to experiment with higher-strength metals such as steel and cobalt chrome.

“We are very excited to have developed this relationship with Lockheed Martin and secured this investment as it enables Equispheres to offer a broader range of products to the metal powder market, which is doubling in size every 12 to 18 months,” said Equispheres president and CEO Kevin Nicholds in a statement.

To date, Equispheres has funded its development with C$24 million in investments, largely from a cohort of Ottawa-based angels. Nicholds told OBJ in a recent interview that the firm expects to close a US$25-million venture capital round before the end of the year.

To hear more about what some investors have called Ottawa’s “best-kept secret,” grab a copy of OBJ from newsstands or online on Monday, June 4 for David Sali’s full interview and profile of Equispheres.

Get our email newsletters

Get up-to-date news about the companies, people and issues that impact businesses in Ottawa and beyond.

By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.