HONG KONG, Aug. 31, 2016 /PRNewswire/ -- Heritage Printing Technology Corp. (PINKSHEET: HAGE) (OTCBB: HAGE) a leading innovator of 3D printing technology, today issues the following Company Update from its President, Tom Graves.
Heritage Printing Technology's recent transition to a publicly traded company was a major milestone for our company. I would like to welcome all of our new shareholders, and take this opportunity to discuss the market opportunity and our position, strategy and goals for the next twelve months.
The Market Opportunity
To anyone who hasn't seen it demonstrated, 3-D printing sounds futuristic. But the technology is quite straightforward: It is a small evolutionary step from spraying toner on paper to putting down layers of something more substantial (such as plastic resin) until the layers add up to an object. And yet, by enabling a machine to produce objects of any shape, on the spot and as needed, 3-D printing really is ushering in a new era, and it is evident that 3D printing is here to stay.
Low-cost 3D printers could be set for every home, just like most homes have an inkjet printer today. The global 3-D printing market was valued at $2.3 billion in 2013 and is anticipated to reach $8.6 billion by 2020 for a compounding annual growth rate (CAGR) of 20.6%. To put that into perspective, the smartphone industry is expected to experience a 6% CAGR from 2015-2020.
Forbes contributor Rick Smith stated, "I believe, along with a growing number of leaders around the world, that 3D printing will change the way things are produced more in this century than the industrial revolution did over the last 300 years."
Innovative Product Line
It is our goal at Heritage Printing Technology Corp. to provide the highest-quality products on the market at an affordable price. Our diverse line of innovative 3-D printers satisfy a wide array of consumer needs from large-scale units requiring their own work station to smaller compact models that can easily fit on a desktop. All of our printers have strong cases for built-in durability with wooden, metal, and acrylic frame types. On some models, an acrylic window closes during the printing process for user safety and to ensure no outside particles disrupt the integrity of the printing process.
Our models come equipped with multiple extruders resulting in faster printing. Other brand printers only have one extruder, or printhead. Our models have two or three extruders constantly feeding material into the machine finishing projects faster than many competitors. Multiple extruders also help create more colorful items since the printer can use two or three different materials at once.
Each 3D printer has a different filament capability that determines which materials users can create with. Fused filament fabrication, or FFF, uses a thermoplastic material on coils, feeding it through to the machine's extruder head. Fused deposition modeling, or FDM, heats up plastic and fuses each layer together. Selective laser sintering, or SLS, uses lasers and powdered filaments while stereo lithography uses UV lighting and liquid materials.
Some of our models also have touch-responsive keypads and an LCD screen that offers an easy-to- use interface for inputting printing specifications. Wi-Fi connectivity eliminates the need for a direct connection, giving you more versatility when setting up a workspace. Some models have a stepper motor, giving you the option to use the computer to control positioning and speed for precise printing.
All 3D printers have a specified resolution, measured in microns, where a smaller number means a higher resolution. Select models print in both high- and standard- definition, as well as a fast-print option that lets users choose the quality level. Whether you're just learning the technology, or you're looking for a workhorse for your business, Heritage Printing Technology Inc. has plenty of 3D printers for sale and accessories to help bring your visions to life.
Our 3D Printer Models:
- TIKO 3D Printer
- TIKO Compact 3D Printer
- ASPA Wireless 3D Printer
- Blanc Matter 3D Printer
Strategic Corporate Plan
Heritage Printing Technology Corp. has entered into an agreement with Artefactor Limited, a well-established China based Manufacturing and Distribution Company. This contract advances our Corporate Strategic Plan to enter into the bid process for several regional and government contracts in China as well as entering other Asian emerging markets. This will also help lower production costs allowing us to pass savings onto consumers and provide industry leading products at affordable prices.
The Chinese Ministry of Science and Technology is setting up a project that will see $313 million invested in 3D printing technology over the next three years. The funding will be focused on research and development of 3D printers, equipment, and novel 3D printing applications. 3D printing market growth within China is expected to remain around 40%, with production expected to exceed $3 billion from 2016 and 2020.
We believe the opportunity for advancements in the 3-D printing industry in China is greater than any other market. And our management team has the experience and established relationships in Asia to capitalize on such growth. R&D and novel printing applications will continue to be a key objective for Heritage Printing Technology Corp. Many 3D-printed medical solutions are still in their experimental stages, but first tests are looking promising in a variety of areas.
It is our goal to produce an innovative, industry leading product line of 3-D printers at affordable price points and, by utilizing our management team's existing relationships, aggressively bid on several regional and government contracts available throughout China and other emerging Asian markets. We seek to capitalize on the influx of research capital flowing into the Asian markets and quickly establish ourselves as a gold standard for the 3-D printing industry.
Heritage Printing Technology wants you to know how important our shareholders are to us. We have taken into consideration what larger competitors have done right and what they have done wrong. This knowledge shall benefit our growth and profitability for the future. Thank you for your confidence and trust as part of our growing family of shareholders and users.
FORWARD LOOKING STATEMENT
This news release includes forward-looking statements that reflect Heritage Printing Technology Corp's current expectations about its future results, performance, prospects and opportunities. Heritage Printing Technology Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Heritage Printing Technology Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2016 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
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SOURCE Heritage Printing Technology Corp.