Fast Radius announces planned merger with ECP Environmental Growth Opportunities Corp.

Energize Ventures
Jul 19 · 4 min read

Fast Radius, the leading provider of cloud manufacturing solutions and an Energize portfolio company, today announced that it has entered into a definitive business combination agreement with ECP Environmental Growth Opportunities Corp.. (NASDAQ: ENNV), a publicly traded special purpose acquisition company (SPAC). The combined company will have an estimated post-transaction equity value of $1.4 billion.

The net proceeds raised from the transaction will be used to support Fast Radius’ continued growth across customer acquisition, software development, and micro-factory expansion. Founders Lou Rassey, Pat McCusker, Bill King and John Nanry will continue to lead the company and remain committed to executing Fast Radius’ proven business model and driving value for all stakeholders.

The intersection of new technology and traditional manufacturing

Fast Radius’ integrated digital and physical platform simplifies the way parts are designed, made and moved around the world. We believe their Cloud Manufacturing Platform technology is poised to have a profound impact on the future of the industry.

Our relationship with Fast Radius

At Energize, we are big believers in the decentralization of industrial processes to increase operational efficiency, lower costs and improve sustainability. Fast Radius’ Cloud Manufacturing Platform enables seamless and on-demand production of parts, helping customers address supply chain challenges and efficiently scale their business, all while operating more sustainably.

While Fast Radius has a strong track record with customers in industries like healthcare and robotics, we are also seeing new opportunities arise to unlock value in energy and sustainable industry — such as the design and manufacturing of parts for solar installation and electric vehicles. In our partnership with the team, we have focused on helping them accelerate expansion of their software platform, identify and launch new applications, and scale their production-grade cloud manufacturing capacity.

An exciting milestone for a deserving team

We are thrilled to support Fast Radius in this next step and are excited for what’s to come as they continue to transform the manufacturing industry throughs software innovation.

Energize Ventures

Accelerating digital innovation in energy and heavy industry