ValCUN and the EIC Accelerator: 3D Printing With Molten Aluminium

ValCUN, founded near Ghent in 2016, has developed Molten Metal Deposition, a 3D printing process that melts aluminium wire and deposits it layer by layer to build near-final metal parts, and sells it in a machine called Minerva. Unlike powder-bed metal printers, it needs no fine metal powder, which is costly and hazardous, and the company says it can use recycled material. It was selected in the EIC Accelerator's June 2023 cut-off with blended finance and received an EU grant of €2.50 million for a €3.57 million project that ran from March 2024 to June 2026, according to CORDIS. The aim was to make the technology industrial, scale production and win adoption.

The only public report, to February 2025, lists hardware changes to improve print quality and reliability, new toolpath software and AI-based prediction of process parameters, materials research on alloys industry wants, and "key partnerships with industry to pilot the MMD technology in real-world settings", according to the CORDIS reporting page. The report names no partner and gives no performance figures. Before the award, ValCUN had sold its first Minerva to Sirris, a Belgian industry research centre, according to 3DPrint.com.

Where ValCUN Stands Now

ValCUN's gross margin rose from €301,426 in 2024 to €980,055 in 2025, with a small net profit of €30,436, equity of €461,774 and 5.4 full-time staff, according to Belgian accounts on Companyweb. Belgian small-company accounts report gross margin rather than revenue. The company's website offers the Minerva printer and a new Remus print head and targets heat exchangers and space applications. No financing round or customer beyond early research buyers has been announced.

The Technology: Drop by Drop

Most metal 3D printing melts fine powder with lasers inside sealed machines, which is expensive and requires careful handling of the powder. ValCUN melts wire in a crucible and deposits the liquid aluminium directly. That makes the machine simpler and cheaper to run, and allows overhangs of up to 70 degrees to be printed without supports, according to 3DPrinting.com. ValCUN markets it for near-net-shape parts.

What the EIC Award Promised, and What the Record Shows

The award aimed to make molten metal deposition ready for serial industrial use. The first year improved the machine, the software and the materials. Pilots with industry are mentioned without names, and there is no final report to show how far serial use was reached. The rise in gross margin in 2025 indicates more activity, but its source is not broken down.

1. Hardware improvementsDeliveredPer first report.
2. AI process softwareDeliveredPer first report.
3. Industrial pilotsUnverifiedNo partners named.
4. Serial production useUnverifiedNo final report.

The Money

The EU paid 70% of the project. The grant was several times ValCUN's equity. The company has broken even on paper each year, with profits of a few hundred to a few tens of thousands of euros. Whether the EIC Fund invested under the blended finance award is not public.

What Cannot Be Checked

Why Europe Should Care

Aluminium parts made on demand, from recycled wire, could shorten supply chains for industry and defence. Cheaper, safer metal printers could spread that capability to smaller workshops. ValCUN has a working machine; turning it into a business of scale is still ahead.

The Verdict

ValCUN and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.