Few figures in additive manufacturing (AM) possess the breadth of experience that Frank Herzog does.As the founder of metal laser powder bed fusion (LPBF) pioneer Concept Laser, Herzog played a pivotal role in the industrialization of AM before its acquisition by GE.Now, through the HZG Group and its affiliated HZG Additive Manufacturing Tech Fund, he is focused on investing in the next generation of 3D printing technologies.
In a recent interview with 3DPrint.com, Herzog shared insights into his investment strategy, the global AM landscape, and the role of innovation in maintaining competitiveness.AM Funding, Now with Technical Support After Concept Laser’s acquisition and his subsequent work developing GE Additive’s Lichtenfels facility, Herzog turned his focus toward supporting AM startups.This led to the creation of HZG Group and its venture capital arm, the HZG Additive Manufacturing Tech Fund, which now manages a €60 million portfolio.
Half of this capital comes from Herzog and his wife, while the remainder is provided by prominent German entrepreneurs.Unlike conventional venture funds, HZG Group is more than just a financial backer.Its business model is deeply rooted in technical and strategic collaboration.
“Our business model is not just about investing money into new companies,” Herzog said.“It’s also about supporting these young companies with advice and the experience we’ve gained from almost 30 years in 3D printing.” A unique differentiator for HZG Group is naddcon, its research, development, and application center for AM.naddcon functions as more than just an incubator; it actively collaborates with portfolio companies to refine and industrialize their technologies.
“We founded naddcon because we believe that investing in startups alone is not enough—we need to help them apply their technologies and scale,” Herzog said.The center provides engineering expertise, material qualification, process optimization, and access to state-of-the-art AM equipment for the industry and to support the growth of its portfolio companies.For example, naddcon has worked on projects ranging from developing optimized LPBF process parameters to pioneering support-free additive manufacturing strategies.
It has also been instrumental in validating materials for industrial applications, enabling startups to commercialize their technologies more effectively.HZG Group follows a highly selective investment process, having screened approximately 2,600 startups to date.The firm prioritizes companies that align with its core belief that AM will be a cornerstone of Industry 4.0.
Herzog emphasized two main criteria for investment: company culture and technological innovation.“What is necessary is a very strong company culture because businesses are built by people.Companies will face crises, financial constraints, and technological hurdles, so how they navigate these challenges is critical,” Herzog explained.
“Second is the technology itself.We want to see truly innovative solutions that represent the next step in AM.” RLP’s unique 3D printing technology.HZG Fund has already built a diverse portfolio of companies, each bringing innovative approaches to AM.
Some notable investments include: Rapid Liquid Print: A company revolutionizing AM with its “zero-gravity” 3D printing process, which allows for the rapid production of elastomeric components without support structures.Axtra3D: Developer of Hybrid PhotoSynthesis (HPS) technology, which combines the precision of stereolithography (SLA) with the speed of digital light processing (DLP) to deliver high-resolution parts at industrial scale.Q.Big 3D: Specializing in large-format polymer additive manufacturing, Q.Big 3D’s QUEEN 1 system enables the production of extra-large parts with fine resolution and high productivity.
xolo: A leader in volumetric 3D printing, which eliminates layer-by-layer printing constraints to produce smooth, high-speed prints.Each of these companies exemplifies HZG’s focus on scalable technologies that enhance the automation, efficiency, and industrialization of AM.Navigating the Global Additive Manufacturing Landscape Initially, HZG Fund focused on startups in German-speaking countries.
However, this scope expanded when Herzog encountered promising international ventures.“That was our initial plan, but things turned out differently,” Herzog explained.“Over the past few years, we screened about 2,600 startups and selected a number of them.
But then one day, Axtra 3D came along, and we were very excited about that company.It’s based in Charlotte, North Carolina.By coincidence, we also met the team at Rapid Liquid Print in Boston, which developed its proprietary rapid liquid 3D printing technology.
So, we moved beyond our original plan to invest only in German-speaking firms and decided to also invest in U.S.companies.” The global competitive landscape, particularly China’s rapid advancement in AM, raises concerns among Western industry leaders.However, Herzog advocates for continuous innovation rather than resistance.
Frank Herzog.Image courtesy of Sebastian Buff.“Once you talk to the people at Chinese companies, you see they are inspired.
They are just as enthusiastic about the technology like we are,” he said.“Of course, the Chinese government provides a lot of public support for high-tech industries, including 3D printing, which puts pressure on Western technology providers.But complaining won’t help.
My answer is: innovate, innovate, innovate—keep moving forward, take the next step in technology, improve efficiency, boost productivity, and reduce production costs for parts.” Despite market fluctuations and skepticism regarding the economic viability of AM, Herzog remains optimistic.“I see a bit of 3D printing bashing going on,” he said.“Right now, everything is being viewed negatively.
But when GE acquired Concept Laser, it was the opposite—everything was overly positive.The reality is, life isn’t just black or white; it’s shades of gray.And to me, there’s no reason for pessimism.” HZG Fund prioritizes investments in software, robotics, and hardware that push AM’s boundaries, making it more automated, cost-effective, and capable of high-volume production.
To drive broader adoption, naddcon focuses on education and industry collaboration.“What I see in many design departments is that people still have no real understanding of 3D printing,” Herzog noted.“So we started a program to educate kids, apprentices, and even experienced designers about the possibilities and freedom of design that 3D printing offers.
The more people understand and adopt this technology, the more applications we’ll see in the future.” Looking ahead, Herzog envisions AM as an integral part of manufacturing rather than a niche solution.“This technology must and will play a crucial role in the manufacturing industry,” he said.“3D printing will be one piece of the broader manufacturing landscape, and it will become a standard tool for solving product challenges.” His message to entrepreneurs and investors is clear: “There’s no reason for pessimism.
It’s our responsibility to dig deeper, uncover new applications, and drive innovation.For industrialized countries, being innovative and pushing forward in manufacturing will be key to survival.3D printing will be a critical part of that transformation.” As HZG Group continues to identify and support groundbreaking startups, its impact on the future of AM appears poised to be as transformative as Herzog’s pioneering work with Concept Laser.
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