WSJ News Exclusive | Digital Manufacturing Company Fast Radius Nears $1.4 Billion SPAC Deal

Fast Radius Inc. is closing in on a deal with a special-purpose acquisition company that would value the digital manufacturing company at about $1.4 billion and take it public, people familiar with the matter said.

Backed by investors including United Parcel Service Inc., Fast Radius uses a cloud-based software platform and manufacturing techniques including 3-D printing to make unique parts, accelerating product and supply-chain development for customers. Its other partners and customers have included household products seller Colgate-Palmolive Co. and the baseball glove maker Rawlings.

Fast Radius also works with other companies in the space such as 3-D printing technology firm Carbon to produce parts.

Chicago-based Fast Radius is nearing an agreement to combine with the green-focused SPAC ECP Environmental Growth Opportunities Corp., the people said. A deal could be announced as soon as this week.

The company would join many others tied to technology and manufacturing that are going public by combining with SPACs. These firms are attracting investors who see huge growth potential as large corporate customers aim to speed up innovation, simplify supply chains and bring down emissions.