Equity investment will support continued development of Sintavia’s proprietary thermodynamic designs and components
(BUSINESS WIRE)--Sintavia, LLC, an additive designer and manufacturer of advanced thermodynamic components for aerospace & defense applications, today announced that it had received a direct equity investment from Lockheed Martin Corporation (NYSE: LMT). Sintavia’s products include some of the most advanced mechanical systems used in flight applications today, including multi-circuit heat exchangers, complex thermodynamic chassis, and monolithic cooling pumps. The terms of the investment, which was completed on June 27, 2023, were not disclosed.
Sintavia and Lockheed Martin have a longstanding collaboration to expand the research of metal additive manufacturing (AM) opportunities as an alternative to traditional design and manufacturing methods. In December 2022, the companies announced a strategic partnership to explore additional AM technology areas in connection with the White House initiative “AM Forward,” launched by President Joe Biden in May 2022. AM Forward is a voluntary compact aimed at strengthening U.S. supply chains by supporting U.S.-based suppliers’ adoption and deployment of AM.
Since 2019, Sintavia has been a component supplier to Lockheed Martin and currently maintains supply relationships across all four Lockheed Martin business areas. Components supplied by Sintavia support a number of key Lockheed Martin programs, including the F-35 and F-22. Proceeds from the investment will be used to continue to fund additional development and testing at Sintavia.
“This investment not only cements the relationship between Lockheed Martin and Sintavia, but also demonstrates the fact that Sintavia’s thermodynamic components—optimized through additive technology—are sought after by the largest and most substantial prime integrators within the aerospace & defense industry,” said Brian Neff, Sintavia’s founder and CEO. “Lockheed Martin represents the very best of these, and we are honored to have their backing as we continue to grow and expand our product line.”
“Lockheed Martin’s strategic investment expands our existing joint development agreement with Sintavia announced last December,” said David Tatro, vice president for Operations Process Transformation at Lockheed Martin. “We look forward to strengthening our collaboration on the design and supply of additively manufactured parts across the defense industrial base.”
RBC Capital Markets, LLC acted as financial advisor and Alvarez & Diaz-Silveira LLP acted as legal counsel to Sintavia in connection with the transaction.
About Sintavia
Sintavia designs and 3D prints the most advanced thermodynamic components across the aerospace and defense industry today. A founding member of the Additive Manufacturer Green Trade Association, Sintavia is committed to the highest quality standards in the industry and holds multiple Nadcap and other aerospace accreditations. For more information visit http://www.sintavia.com.
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Contacts
Sintavia, LLC Media Contact:
Lindsay Lewis, Director of Corporate Strategy, +1 954-474-7800, LLewis@sintavia.com
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