Bridge Bank bolsters Divergent Technologies with $47m term loan

Bridge Bank’s Technology Banking Group has finalized a substantial $47 million term loan agreement with Divergent Technologies Inc., based in Torrance, California. This significant financial boost is aimed at supporting Divergent’s continued innovation and growth in the fields of automotive, aerospace, and defense applications. The loan is a continuation of the existing partnership between the two entities, aligning with Divergent’s recent Series D equity financing round, which raised a total of $230 million in November 2023.

Divergent Technologies is at the forefront of revolutionizing industrial manufacturing through its Divergent Adaptive Production System (DAPS), the world’s first comprehensive software-hardware production system tailored for industrial digital manufacturing. This system enables the design, additive manufacturing, and automated assembly of complex structures, offering groundbreaking improvements in the economics and environmental impacts of manufacturing.

Mike Lederman, Senior Managing Director in Bridge Bank’s Technology Banking Group, expressed strong support for Divergent’s pioneering approach to vehicle design and production. “We believe in their vision and transformative approach to industrial manufacturing. This loan reflects our team’s ongoing commitment to banking relationships with forward-thinking companies like Divergent,” Lederman commented.

Divergent’s CEO, Kevin Czinger, also highlighted the positive impact of this financial partnership on the company’s trajectory. “This loan adds significant flexibility for Divergent to continue to grow and innovate,” said Czinger. He further appreciated the solid relationship with Bridge Bank, noting that their support demonstrates a deep understanding and confidence in Divergent’s vision and capabilities.

The loan is expected to accelerate Divergent’s development and expand its operations, reinforcing its leadership in the industry. Divergent’s DAPS technology not only optimizes designs but also reduces material use and eliminates the need for substantial upfront capital expenditures in manufacturing complex structures.

The collaboration between Bridge Bank and Divergent Technologies exemplifies strategic financing that supports innovation in critical sectors. This partnership not only facilitates technological advancement but also promotes sustainable manufacturing practices, setting a new standard in the industry.