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CHICAGO, July 17, 2019 (GLOBE NEWSWIRE) -- Fast Radius co-founder and chief executive officer Lou Rassey has been named to Crain's Chicago Tech 50 list, which honors pioneers and leaders in Chicago's technology community. Fast Radius is a leading manufacturing technology company located in the West Loop that helps make new things possible for today’s leading product companies – whether that’s unlocking new business models through additive manufacturing or making formerly “unmakeable” products.
“We chose to locate our headquarters in Chicago because of its status as a major manufacturing hub with a vibrant tech community,” said Rassey. “The caliber of people on Crain’s Tech 50 List speaks to Chicago’s innovative spirit, and I’m honored to be counted among them.”
Rassey has a long history in Chicago, first collaborating with other Fast Radius executives to help bring the Digital Manufacturing and Design Innovation Institute (DMDII) to Chicago in 2015. Prior to that, Lou was a Partner at McKinsey & Company where he helped lead the Manufacturing & Private Equity Practices. He co-led McKinsey’s global research report and client advisory efforts on the ‘Future of Manufacturing’ and its implications on how countries and companies will compete.
Under Rassey’s leadership, Fast Radius is building a disruptive production model, fueled by a combination of the latest in additive manufacturing technologies and proprietary software. This first-of-its-kind software enables a digital thread across a product’s manufacturing cycle.
In 2018, Fast Radius’ Chicago headquarters was named one of the world’s nine most innovative factories, also known as a “manufacturing lighthouse,” by the World Economic Forum. It was the only North American company to receive this recognition. The factory includes industrial-grade additive manufacturing technologies like HP Multi Jet Fusion and Carbon Digital Light Synthesis, which helps the company serve customers across verticals including automotive, industrial, aerospace and consumer products.
Fast Radius also recently announced a $48M funding round, led by UPS and Drive Capital.
“With this recent round of funding, we look forward to continuing on our path of innovation. We’re making new things possible for our customers and the people who use their products,” said Rassey.
About Fast Radius
Fast Radius is the leading provider of additive manufacturing solutions, including application discovery, product design and testing, and production-grade manufacturing. From entirely new products uniquely enabled by additive manufacturing to global supply chain solutions leveraging a virtual warehouse, Fast Radius brings the future of manufacturing and the supply chain to its clients. Last year, Fast Radius was recognized as one of the 9 companies best “implementing technologies of the Fourth Industrial Revolution” by the World Economic Forum (WEF)—the only company honored that is based in North America. Fast Radius is headquartered in Chicago, with offices in Atlanta, GA and Singapore, as well as a production hub on-site at the UPS Worldport facility in Louisville, KY. Visit www.fastradius.com for additional information.
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