After many months of rumors, Hewlett-Packard revealed its Multi Jet Fusion technology on Wednesday that will revolutionize the 3D printer industry, reports CNET.

The Multi Jet Fusion technology will power new 3D manufacturing and commercial printers, starting with Hewlett-Packard's Sprout, a desktop computer with a projector and 3D-capable scanner.

"As we examined the existing 3D print market, we saw a great deal of potential but also saw major gaps in the combination of speed, quality and cost," Stephen Nigro, a Hewlett-Packard senior vice president, said in an announcement.

He also said the Multi Jet Fusion is designed to "transform manufacturing across industries." The computer and printer company intends to achieve this by delivering break-through economics, better quality and increased productivity.

How Hewlett-Packard's Multi Jet Fusion Technology Works

3D printing is not new. The technology already exists, however, it is not widely used because process is slow and the quality isn't the best.

Hewlett-Packard claims their new 3D printing technology prints higher quality products, is 10 times faster and more affordable than existing 3D printers.

According to the company, the following four reasons explain why their technology is superior:

  1. It has the ability to speed up 3D imaging by constructing an entire surface area. Existing 3D printers build one point at a time.
  2. While thermoplastics are currently being used, Hewlett-Packard is researching and developing new 3D printing materials, using metal, color and ceramic. Multi Jet Fusion presently prints in fused nylon.
  3. The company will eventually offer the color set it already sells for traditional printing.
  4. The new 3D print process reduces running time, energy consumption, waste and cost.

Hewlett-Packard plans to target corporate clients  but will make the 3D printing technology available to consumers through "service bureaus."

The new technology is expected to be available for purchase in 2016.