BASF, the largest chemical producer in the world recently announced that BASF Venture Capital GmbH, the investment branch of BASF has made a tactical investment in Prismlab, the Chinese 3D printing hardware and process provider.
Markus Solibieda, MD, BASF Venture Capital has been reported to say that this investment is BASF’s first investment in any Chinese company. The investment follows a number of other deals that BASF made in recent years such as the $25 million partnership with Materialise. According to Solibieda, this deal is in line with the company’s strategy to advance its technologies and expand its product offering in the 3D printing sector.
Prismlab, a company headquartered in Shanghai, is the patent holder for MFP or Pixel Resolution Enhanced Technology. Reportedly the patented technology is used to design large 3D printed components in high resolution. The technology uses an LCD light source and functions on the basis of dividing individual printable resin pixels into smaller sections and exposing them to light multiple times. Prismlab claims that the process causes significantly higher energy input into each pixel when compared to exposure of pixel to light only once.
Solideda commented on the MFP technology and said that it is a groundbreaking innovation that allows the 3D printing of stable components such as anatomical models and medical braces for the first time.
BASF is also helping Farsoon Technologies, another Chinese company to expand its business in Europe. Farsoon Technologies is also headquartered in Shanghai. BASF Senior VP, Business and Market Development for Greater China, Dr. Zheng Daqing has reportedly said that China is transforming from a manufacture oriented to an innovation-based economy and BASF’s investment in Prismlab shows the commitment that BASF has made in expanding its innovation capacities in China. He added that BASF Venture Capital plays a key role in identifying potential partners that can lead BASF to success.