NESS ZIONA, Israel, Aug. 11, 2015 /PRNewswire/ -- Nano Dimension, a leading printing electronics company in the area of 3D printing (TASE: NNDM, OTCQB: NNDMY), announced today that Nano Dimension Technologies, a fully owned subsidiary of Nano Dimension, has made its first sale of 3D printers and nano inks in India, totaling USD $250K. The transaction was completed by Vigilante Environmental Solutions, Nano Dimension's business developer in India.
The agreement includes five "Dragonfly 2020" 3D Printers for Multilayered PCB that will be supplied during the second half of 2016 as well as 5Kg (~11 lbs.) of Conductive Nano Silver ink for industrial use, which will be supplied immediately as promotional samples. This development demonstrates Vigilante Environmental Solutions' strong relationships with India's industrial market and builds a foundation to promote Nano Dimension's ink products with prospective industrial customers in India as the company expands into this new territory.
Amit Dror, CEO of Nano Dimension, commented: "We are thrilled to report the company's first-ever sale of our pioneering 3D printer and inks. Our marketing and sales efforts to-date have been predominantly focused on our initial target markets, the U.S. and Israel, and the fact that the first sale is a result of our recently established relationship with Vigilante Environmental Solutions in India is a testament to the confidence our early partners have shown in the products we have developed. Their belief and positive feedback led to Nano's decision to expand into India. As we're able to report such a positive development in the market after a relatively short period of time, we expect this will continue to be a fruitful collaboration."
About Nano Dimension
Nano Dimension was founded in 2012 and focuses on the research and development of advanced 3D electronics printing, including a printer for printing PCBs (printed circuit boards), and the development of nanotechnology-based ink products, which are complementary products for 3D printers.
The company was established by four seasoned entrepreneurs, Sharon Fima, Amit Dror, Simon Fried and Dagi Ben-Noon, whose backgrounds are in world-class digital print companies and technology companies.
Nano Dimension uses a unique, novel technology which combines three technologies: inkjet, 3D printing and advanced nanotechnology, enabling the use of conductive ink for printing the conductors on PCBs. By integrating innovative, groundbreaking technologies, Nano Dimension is developing a unique and innovative 3D printer, which is capable of printing multi-layer PCBs, and supplies conductive Nano-inks to other fields in the electronics market.
Nano Dimension trades on OTCQB Market in U.S and on the TASE in Israel. The Bank of New York Mellon serves as the depositary for Nano Dimension. Investors can find current financial disclosure and Real-Time Level 2 quotes for Nano Dimension on http://www.otcmarkets.com/stock/NNDMY, the content of which is not part of this press release.
This press release contains forward-looking statements, including but not limited to forward-looking information, as defined in the 1968 Israeli Securities Law. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example we are using forward-looking statements when we discuss how the agreement in India builds a foundation to promote our ink products with prospective industrial customers in India, or when we discuss our expectation for a continuous fruitful collaboration with Vigilante Environmental Solutions. These statements are only predictions based on Nano Dimension's current expectations and projections about future events. There are important factors that could cause Nano Dimension's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include, but are not limited to the impact of general economic conditions, competitive products, product development risk, product demand and market acceptance risks, reliance on key strategic alliances or fluctuations in operating results. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Miri Segal-Scharia Hayden/ MS-IR LLC
SOURCE Nano Dimension