SOUTH WINDSOR, Conn., Feb. 03, 2017 (GLOBE NEWSWIRE) -- Oxford Performance Materials, Inc. (OPM), a leader in advanced materials science and high performance additive manufacturing (HPAM™), today announced that it has closed on an additional round of strategic investment from Hexcel Corporation (NYSE:HXL). In May 2016, OPM and Hexcel announced an initial strategic investment from Hexcel of $15 million. The second round of investment from Hexcel is $10 million, for a total equity investment of $25 million to date.
OPM develops proprietary material, process and application technologies, and its Aerospace & Industrial business unit applies 3D printing technology and HPAM™ to produce fully functional end-use parts that combine structural strength, enhanced performance, weight reduction and time-to-market benefits for its customer base.
Hexcel is a global leader in advanced composites technology with headquarters in Connecticut and manufacturing locations worldwide. OPM Aerospace & Industrial utilizes Hexcel carbon fiber in the production of OPM’S 3D printed OXFAB®–ESD advanced thermoplastic structural parts for its aerospace, satellite & defense programs.
OPM recently announced its contract award from Boeing to supply 3D-printed OXFAB® structural production parts for the CST-100 Starliner. Hexcel’s follow-on investment will further enable OPM to expand capacity to meet rapidly growing market demand for the company’s OXFAB® technology in aerospace and other industries.
About Oxford Performance Materials, Inc.
A recognized leader in advanced materials science, Oxford Performance Materials Inc. (OPM) was founded in 2000 to exploit and commercialize the world’s highest performing thermoplastics, with a focus on poly-ether-ketone-ketone (PEKK). OPM develops proprietary material, process and application technologies and applies high performance additive manufacturing (HPAM™) to produce fully functional end-use structural parts. The Company has three strategic business units: OPM Materials develops proprietary OXPEKK® thermoplastic products and other materials for biomedical, aerospace and industrial applications. OPM Aerospace & Industrial produces 3D printed OXFAB® production parts for highly demanding aerospace, satellite and defense applications. OXFAB® structures offer significant weight, cost and time-to-market reductions that are defined in a set of specified performance attributes in the exhaustive OPM B-Basis database, developed in conjunction with NASA. OPM Biomedical is a pioneer in personalized medicine, 3D printing OsteoFab® cranial and facial implants as an OEM, and its SpineFab® line on a contract manufacturing basis. OPM Biomedical is the first and only company to receive FDA 510(k) clearance to manufacture 3D printed patient-specific polymeric implants, and has a total of four 510(k) clearances in its portfolio. For more information, please visit: www.oxfordpm.com
