NESS ZIONA, Israel, Dec. 23, 2015 /PRNewswire/ -- Nano Dimension, a leading printing electronics company in the area of 3D printing (TASE: NNDM, OTCQX: NNDMY), announced today that Nano Dimension Technologies, a fully owned subsidiary of Nano Dimension, has received grant approval to support the Company's development of a 3D PCB printer from the Israeli Office of the Chief Scientist at the Ministry of Economy. The grant supports a development budget up to $1.13M.
This is the second consecutive year that the company has received funding from the Office of the Chief Scientist (OCS). This grant approval bears testimony to the company successfully meeting development targets set forth to-date.
The grant will support the Company's core R&D project, the development of a unique 3D printer designed to print multilayer electronic circuit boards (PCBs) for any product containing electronic circuits.
The Chief Scientist has approved a budget of up to $1.13M, where the contribution by the OCS to the R&D budget is 50% of expenditure.
Sharon Fima, Chief Technology Officer, commented: "We are proud of the confidence that the OCS has shown in the Company, which results from intense development activity and our meeting significant technological milestones. We continue to invest in advanced R&D, solidifying Nano Dimension as a leader in the field of 3D printed electronics."
About Nano Dimension
Nano Dimension, founded in 2012, focuses on development of advanced 3D printed electronics systems. Nano Dimension's unique products combine three advanced technologies: 3D inkjet, 3D software and nanomaterials. The company's primary products include the first 3D printer dedicated to printing multi-layer PCBs (printed circuit boards) and advanced nanotechnology-based conductive and dielectric inks.
Nano Dimension trades on OTCQX® Best Market in the U.S. and on the TASE in Israel. The Bank of New York Mellon serves as the depositary for Nano Dimension. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Nano Dimension on http://www.otcmarkets.com/stock/NNDMY.
This press release contains forward-looking statements. 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. 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.
Hayden/ MS-IR LLC
SOURCE Nano Dimension