Luminor Grants 0.804 Million Euro for the Development of AM Craft

31.08.2020

Large Parts for Aircrafts Will Be Produced in Riga with a 3D Printer

Luminor bank has granted 0,804 million euro in financing to company SIA AM Craft, which is engaged in industrial 3D printing, producing both plastic parts for aviation and functional aids for medicine. Using the funding, the company has purchased four large-scale 3D printing units.

“3D printing makes it possible to quickly create unique and very specific plastic products for a wide range of applications. Aviation and medicine are among the major industries that have significantly increased the use of 3D printing. Products for these industries require a high level of quality control, traceability and transparency of production processes, which AM Craft will be able to ensure thanks to the new equipment. It is a pleasure that Luminor bank has the opportunity to support a company the products of which will be more environmentally friendly, as it will reduce CO2 emissions compared to traditional production methods, as well as improve the daily lives of people who need technical aids,” says Ilze Zoltnere, Head of Corporate Department at Luminor.

Thanks to the funding from Luminor bank, the 3D printing company has acquired four large-scale (90x90x90 cm working area) production units and plans to establish the first automated industrial 3D printing centre in Europe, focusing on the aviation and technical orthopaedic industries. AM Craft plans to automate the currently manual processes, which will significantly increase the overall productivity of the equipment and improve the digital control and monitoring of the entire production process. “It is a pleasure to continue cooperating with Luminior bank, which was able to quickly, professionally and competently delve into the potential of 3D printing in the field of aviation and medicine and evaluate the experience of our team to implement such an ambitious project,” Jānis Jātnieks, co-owner and board member of AM Craft, emphasizes.

AM Craft will ensure the production of plastic products certified for the aviation industry both for new products and parts (seats, luggage storage, cockpit) and for the improvement of existing aircraft interiors to improve passenger in-flight comfort (Wi-Fi installation, mobile charging station in each chair). In the field of technical orthopaedics, leg and arm orthoses suitable for long-term use, cosmetic covers for prostheses and other functional aids will be produced.

About AM Craft
SIA AM Craft is a newly established subsidiary of SIA Baltic3D.eu. Baltic3D.eu has seven years of experience in the field of 3D printing, and since 2014 it has been the official representative of the world’s largest 3D printer manufacturer, Stratasys listed on the New York Stock Exchange, in the Baltic States. Baltic3D.eu has been authorized to produce certifiable aircraft interior parts. At the end of March 2020, representatives of Baltic3D.eu were part of the team that won the HackForce hackathon with the idea of producing face masks with the help of 3D printers. Shield48 reusable face shields are currently being manufactured and sold in more than 10 countries.

About Luminor
Luminor is the third-largest provider of financial services in the Baltics, with some 900 000 clients, 2500 employees, and a market share of 15.6% in deposits and 17.6% in lending as at the end of June 2020. Luminor has total shareholders’ equity of 1.6 billion EUR and it is capitalised with a CET1 ratio of 22.0%.

More information: Inese Kronberga