Saudi Electric Company takes 30% stake in 3D printing venture NAMI

RIYADH - Saudi Electric Company (SEC), the Middle East’s largest power producer, has signed an agreement to acquire a 30% stake in the National Additive Manufacturing Innovation Company (NAMI), according to a press release issued Monday. The deal comes as 3D Systems (NYSE:DDD), currently trading at $3.08 and showing strong momentum with a 60% gain over the past six months, continues to expand its global presence despite challenging market conditions.

NAMI, a joint venture established in 2022 between 3D Systems (NYSE:DDD) and Saudi Arabian Industrial Investments Company (Dussur), aims to deploy advanced 3D printing technology across Saudi Arabia’s energy and defense sectors. According to InvestingPro analysis, 3D Systems maintains a healthy liquidity position with a current ratio of 2.76, though the company faces near-term challenges with cash burn and projected revenue decline.

The investment by SEC is intended to reduce costs for high-demand spare parts, accelerate production timelines, and advance digital warehousing capabilities within the Kingdom’s energy infrastructure.

In addition to the SEC investment, NAMI has secured a five-year $26 million framework agreement with Modern Isotopes Factory to manufacture up to 2,000 tungsten core components used in non-destructive testing devices for pipeline and welding inspection. These components will replace depleted uranium-based parts.

NAMI has also entered into a collaboration with Lockheed Martin to qualify and manufacture critical military and aerospace components in Saudi Arabia for international markets. The partnership will utilize 3D Systems’ Direct Metal Printing technology.

"Through our partnership with Dussur, we’re proud to contribute to this progress by bringing advanced application expertise and additive manufacturing technologies into the Kingdom," said Dr. Jeffrey Graves, president and CEO of 3D Systems.

The joint venture supports Saudi Arabia’s Vision 2030 program, which aims to diversify the economy and build a stronger local manufacturing base. NAMI provides metal and polymer 3D printing capabilities backed by 3D Systems’ hardware solutions, materials, and applications expertise.

In other recent news, 3D Systems has announced several significant developments. The company has been awarded a $7.65 million contract from the U.S. Air Force to develop a Large-format Metal 3D Printer Advanced Technology Demonstrator. This contract extends an existing program aimed at enhancing industrial metal additive manufacturing for high-speed flight applications. Additionally, 3D Systems has unveiled its new MJP 300W Plus printer, which aims to improve efficiency in jewelry manufacturing by offering faster production speeds and reduced material waste.

In a strategic move, 3D Systems plans to divest its software platforms, including the Oqton Manufacturing Operating System and 3DXpert metal printing platforms, to Hubb Global Holdings. This decision aligns with the company’s focus on its proprietary polymer solution, 3D Sprint. The transaction is expected to be finalized in the fourth quarter of 2025. Meanwhile, Saudi Electricity Company has joined NAMI as a strategic investor, alongside existing shareholders Dussur and 3D Systems. These developments reflect 3D Systems’ ongoing efforts to innovate and streamline its operations across various sectors.

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