A Massachusetts company that 3D prints metal parts has secured $500 million to build three new factories as demand from its customers grows.
The company is VulcanForms, and the financing is led by J.P. Morgan and funds managed by Apollo. Founded out of MIT in 2015, VulcanForms already runs three manufacturing sites, including factories in Devens and Newburyport, Massachusetts. The company calls the three new factories a significant milestone in its move from breakthrough technology to production at industrial scale.
VulcanForms does not sell 3D printers, even though it designs its own. Instead it uses them in its factories to make finished metal parts. At the core are in-house laser powder bed fusion systems, in which lasers melt thin layers of metal powder to build up a part. Around them sit precision machining, automation and AI software that runs from build preparation to monitoring and quality control. Bringing those steps under one roof is meant to make complex parts competitive to produce in the U.S., rather than overseas.
Demand is what drives the expansion. VulcanForms has secured multibillion-dollar commercial programs in medical devices, consumer products, aerospace, defense, space and industrial markets, and it already supplies numerous Fortune 500 companies. Part of the new money will also go into adding more physical AI to its platform, so that production of complex parts becomes more automated and efficient.
“America cannot lead the next industrial revolution if we can’t manufacture what we invent,” said Kevin Kassekert, CEO of VulcanForms. For too long, in his view, breakthrough technologies developed in America were made overseas. Now he sees VulcanForms as proof “that the U.S. can not only compete, but also win on the global stage.”
For the lenders, the deal fits a bigger push to bring manufacturing back to America. “The rebuilding of America’s industrial base is a strategic priority,” said John Zito, Co-President of Apollo Asset Management. He expects it to be “among the most capital-intensive undertakings the country has faced in decades.” The transaction is also part of JPMorganChase’s Security and Resiliency Initiative, which works with companies like VulcanForms to strengthen the industries and supply chains that underpin economic security.
“These efforts can help to bridge the gap between promising technology and industrial-scale production in the United States,” said Jay Horine, the initiative’s global head.
The deal comes after VulcanForms raised $220 million in new financing in January 2026. In total, the company has now raised over $1 billion from lenders and investors, among them Eclipse, J.P. Morgan, Apollo, Hudson Bay Capital, D1 Capital and 1789 Capital.
Source: VulcanForms
