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Former GE Chairman & CEO Jeffrey Immelt Joins Desktop Metal’s Board of Directors

July 10, 2018

BURLINGTON, Mass.--(BUSINESS WIRE)--Jul 10, 2018--Desktop Metal ( www.desktopmetal.com ), today announced Jeffrey Immelt, former Chairman and CEO of the General Electric Company, has been elected to Desktop Metal’s Board of Directors. With more than four decades of technology and business expertise, with the most recent leading the 125-year old GE focused on global business development, Immelt is widely regarded as one of the world’s most innovative and accomplished business leaders in technology.

“On behalf of Desktop Metal’s directors and entire team, it’s an honor to welcome Jeff to our board,” said Ric Fulop, Founder and CEO of Desktop Metal. “In addition to his experience leading one of the largest and most admired companies in the world, Jeff is a respected executive with a passion for technology and innovation. His track record for driving creativity and on a global scale makes him a valuable addition to the board as we continue to drive Desktop Metal’s innovation and growth strategy.”

“I am excited and honored to join the Desktop Metal board and work with this exceptional team of visionary entrepreneurs,” Immelt said. “Since it was founded nearly three years ago, Desktop Metal has become a trailblazer across the additive manufacturing landscape and I have a tremendous respect for the company’s ability to innovate. I look forward to sharing my experiences and contributing to the future direction and growth of this emerging metal 3D printing pioneer.”

Immelt joins the Desktop Metal Board along with recently-appointed Dr. Ken Washington, vice president of Research and Advanced Engineering and CTO at the Ford Motor Company. According to Fulop, both additions to the board will play an important role in Desktop Metal’s mission to become a global leader in metal 3D printing.

Founded in 2015, Desktop Metal pioneered the development of the first metal 3D printing systems to cover the full product lifecycle – from prototyping to mass production. The  Studio System™  is the first office-friendly metal 3D printing system for rapid prototyping and is 10 times less expensive than existing technology. To manufacture metal 3D printed parts at scale, Desktop Metal also debuted the only 3D printing system for mass production of high resolution metal parts, the  Production System™. Using new, proprietary Single Pass Jetting (SPJ) technology, the Production System is 100 times faster than today’s laser-based additive manufacturing systems.

About Desktop Metal Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with end-to-end metal 3D printing solutions. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make metal 3D printing an essential tool for engineers and manufacturers around the world. Desktop Metal has raised a total of $277 million in financing. Among the company’s investors include Ford, GV (formerly Google Ventures), GE Ventures, BMW, Lowe’s, and Techtronic Industries (TTI). In 2017, Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by World Economic Forum; named to MIT Technology Review’s list of 50 Smartest Companies; and recognized among the most important innovations in engineering in Popular Science’s“2017 Best of What’s New.”  For more information, visit www.desktopmetal.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180710005159/en/

CONTACT: Desktop Metal, Inc.

Lynda McKinney, 978-224-1282

Head of Communications

Lyndamckinney@desktopmetal.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION HARDWARE MANUFACTURING ENGINEERING STEEL

SOURCE: Desktop Metal, Inc.

Copyright Business Wire 2018.

PUB: 07/10/2018 10:00 AM/DISC: 07/10/2018 10:01 AM

http://www.businesswire.com/news/home/20180710005159/en

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