GE debuts 3D printing finance

GE Capital has announced it is developing a range of customized financial solutions, including leasing, for users of 3D printing technology as part of a push to spur growth in several critical industrial markets including medical, aerospace, automotive and machining.

The lender will work in collaboration with GE’s newly formed additive business unit to sell and finance metal additive machines. Additive manufacturing involves taking a digital design from computer aided design (CAD) software and building it in a layer-by-layer manner, using either a laser or an electron beam as the energy source. Additive components are typically lighter and more durable than traditional forged parts because they require less welding and machining, and because additive parts are essentially “grown” from the ground up, they generate far less scrap material.

“Our dual expertise both in manufacturing and in equipment finance, allows us to create competitive financial solutions that support our customers’ strategic business goals,” said Trevor Schauenberg, president and CEO of GE Capital industrial finance. “Additive manufacturing is a key contributor to the manufacturing evolution; we’re excited to enable its growth.”

GE has invested approximately $1.5 billion in advanced manufacturing and additive technologies, in addition to building a global network of additive centers focused on advancing the science. The company has recently acquired a 75% stake in a German company, Concept Laser, which has particular experience in 3D printing of automotive parts, as well as 76% of the shares in Arcam, a Swedish company which is also a producer of metal additive machines.

“Additive manufacturing is the new revolution, changing the way we design and manufacture products faster, more sophisticated and more cost efficient,” said Mohammad Ehteshami, vice president for additive integration at GE Additive. “By partnering with GE Capital, we’re now able to democratize additive manufacturing, making it easier for businesses to buy additive machines, fostering their competitiveness and accelerating the adoption rate.”