Castor Technologies is based in Israel and specialises in industrial 3D printing.
With the investment, Asahi Kasei aims to synergise its computer-aided engineering (CAE) technical service for plastic products and Castor’s technology.
The multinational chemical company also hopes to capitalise on the growing 3D printing market, which GlobalData forecasts will be worth $70.8bn, growing at a compound annual growth rate (CAGR) of more than 18% between 2021 and 2030.
Castor states that its software and proprietary algorithm can automatically select parts that are suitable for 3D printing from drawings of thousands of parts in a bill of materials (BOM) and propose shape modifications.
The system can also reportedly optimise customers’ manufacturing processes by estimating manufacturing lead times, costs, and CO₂ emissions of the analysed parts.
The start-up’s service for simple judgement of part formability and simulation of manufacturing costs is expected to enable swifter responses to Asahi Kasei’s customer inquiries.
Asahi Kasei business and marketing Yukihiro Bann senior general manager comments: “We aim to provide our customers with more advanced and automated real-time simulations, as well as to expand the range of technical services that both companies can offer.”
Last month, Asahi Kasei launched a chemical recycling project to reduce more greenhouse gas (GHG) emissions than the conventional PA66 manufacturing process.