Asahi Kasei invests in Israeli startup Castor Technologies

Düsseldorf, Tokyo and New York, 16 May 2023 - Asahi Kasei has decided to invest in Castor Technologies Ltd. (CASTOR), an Israeli startup specialized in the development of 3D printing software. In addition to utilizing CASTOR"s software and services, the investment will allow Asahi Kasei to pursue synergies between its CAE (Computer Aided Engineering) technical service for plastic products and CASTOR"s software.

The 3D printing market has grown by an annual average of over 20% since 2015. Through the emergence of rapid prototyping and manufacturing, this annual growth rate is likely to rise to 24%, increasing the need for an optimized technical service and faster response times to customer requests. * When 3D printing is applied to conventional products, an engineer usually selects the candidate parts and decides whether to use 3D printing or not, sometimes modifying the shape to enhance 3D printability. In contrast, CASTOR"s software with its proprietary algorithm can automatically select parts that are suitable for 3D printing from CAD drawings of thousands of parts in a bill of materials (BOM) and propose shape modifications.

Further optimization of customers" manufacturing processes is enabled by estimating manufacturing lead times, costs, and CO2 emissions of the analyzed parts. Asahi Kasei has been providing comprehensive, high precision support for its customers" product design and development through CAE technical service focused on engineering plastics. CASTOR"s service for simple judgement of part formability and simulation of manufacturing costs is expected to enable an even swifter response to customer inquiries. Applying CASTOR"s software and service prior to Asahi Kasei"s plastic CAE technical service will contribute to automate more advanced simulations. "Through this investment, we will further investigate the synergies between CASTOR"s software and Asahi Kasei"s CAE expertise," said Yukihiro Bann, Senior General Manager for Business Strategy and Marketing, Mobility & Industrial SBU at Asahi Kasei Corp. "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."

* The 2022 3D Printing Trend Report published by HUBS B.V.

Find more information on Asahi Kasei"s Engineering Plastics and CAE solutions here:

https://www.asahi-kasei-plastics.com/en/

About Asahi Kasei

The Asahi Kasei Group contributes to life and living for people around the world. Since its foundation in 1922 with ammonia and cellulose fiber businesses, Asahi Kasei has consistently grown through the proactive transformation of its business portfolio to meet the evolving needs of every age. With more than 46,000 employees worldwide, the company contributes to a sustainable society by providing solutions to the world's challenges through its three business sectors of Material, Homes, and Health Care. Its Material sector, comprised of Environmental Solutions, Mobility & Industrial, and Life Innovation, includes a wide array of products, from battery separators and biodegradable textiles to engineering plastics and sound solutions. For more information, visit https://www.asahi-kasei.com/ and https://www.asahi-kasei.com/sustainability



Company Contact Europe:

Asahi Kasei Europe GmbH

Sebastian Schmidt

Fringsstrasse 17, 40221 Düsseldorf

Tel: +49 (0) 211-3399-2058

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

About the Asahi Kasei Corporation

Asahi Kasei Corporation is a globally active diversified technology company with operations in the Material, Homes, and Health Care business sectors. The Material sector encompasses fibers & textiles, petrochemicals, performance polymers, performance materials, consumables, battery separators, and electronic devices. The Homes sector provides housing and construction materials to the Japanese market. The Health Care sector includes pharmaceuticals, medical devices, and acute critical care devices and systems. With more than 46,000 employees around the world, the Asahi Kasei Group serves customers in more than 100 countries and achieved sales of 20 billion euros (2.726 billion yen) in the fiscal year 2022 (April 1, 2022 - March 31, 2023).

Asahi Kasei is "Creating for Tomorrow" with all operations sharing a common mission of contributing to life and living for people around the world. For more information, visit

www.asahi-kasei.eu (http://www.asahi-kasei.eu), www.asahi-kasei.com (http://www.asahi-kasei.com) and https://www.asahi-kasei.com/sustainability/

Company-Contact

Asahi Kasei Europe GmbH

Sebastian Schmidt

Fringsstraße 17

40221 Düsseldorf

Phone: +49 (0)211 3399-2058

E-Mail:

Url: https://www.asahi-kasei.eu/

\n\nBildquelle: Asahi Kasei