Nano Dimension Gains Momentum with Strong Sales Growth and an Expanding Partner Network; Driving Strong Uptake Across the U.S. Defense Sector
- New global resellers are generating market share and revenue
- Realizes average growth of 56 percent quarter to quarter
- Gains new applications for additive manufacturing of printed electronics
- Earns validation from Harris Corp. in printing comparison
NESS ZIONA, Israel, Nov. 28, 2018 /PRNewswire/ -- The year isn't yet over, but Nano Dimension Ltd., a leading additive electronics provider (NASDAQ, TASE: NNDM), has racked up a variety of accomplishments as it continues blazing its pioneering path for precision additive manufacturing of printed electronics around the globe.
Among the highlights, the company has signed with new leading resellers, significantly strengthening its presence in the U.S., Southeast Asia, Europe and Africa. The company has filled key executive positions and more than doubled its sales volume. Nano Dimension has shown quarterly growth in sales revenue, averaging 56 percent quarter to quarter over the last four quarters and earned a variety of professional certifications and technology awards. Nano Dimension's receipt of a Commercial and Government Entity (CAGE) Code from the U.S. Department of Defense Logistics Agency has helped the company move ahead with additional sales to the defense industry. In the third quarter alone, Nano Dimension sold two DragonFly Pro systems to different branches of the United States Armed Forces.
Nano Dimension's strategic alliance approach has committed market-leading developers to broaden the variety of additive manufacturing applications developed with the DragonFly Pro system. This includes a SOLIDWORKS add-in for the DragonFly Pro that offers electronics developers the most complete and efficient solution to optimize multi-material design of complex, non-planar and volumetric electronics.
Nano Dimension also recently announced a major breakthrough in collaboration with Harris Corporation and Space Florida, demonstrating that precision 3D printed radio frequency (RF) amplifier performance is comparable to conventional manufacturing techniques. Harris worked with Nano Dimension and its multi-material DragonFly Pro system to produce the functional circuits in a single print.
In the automotive sector, Nano Dimension has joined the open innovation program of Techniplas, a leading global design and manufacturing provider of automotive products and services. With the program, Nano Dimension is engaging with leading automotive designers to leverage additive manufacturing of electronics, such as encapsulated sensors, IoT applications and smart surfaces. Techniplas recently unveiled a new steering wheel concept that incorporates its proprietary cognitive lighting technology through deploying Nano Dimension's precision additive manufacturing for printed electronics. Using the DragonFly Pro, Techniplas engineers directly printed conductive paths in electronic elements that were embedded into a steering wheel concept.
At the same time, other companies like Phytec in Germany are developing a range of IOT applications with the DragonFly Pro including touch and envronmental sensors to facilitate the 'electronics everywhere' era. In addition, Phytec recently announced that the DragonFly Pro increased work efficiency and cut BGA rework time by 97% or 34 days in a development project for a customer.
Nano Dimension's influential resellers are generating market awareness and revenue worldwide. The company's approach is to forge alliances with channel partners that have attained leading market share and customer satisfaction in their respective territories. Along with the establishment of Nano Dimension's U.S. office and Customer Experience Center in the heart of Silicon Valley, the company has substantially expanded its U.S. channel footprint. Three new U.S. resellers Productivity Inc., GoEngineer, and Accucode have joined in the last few weeks. The new resellers augment Nano Dimension's existing reseller and channel partner network across the U.S. that already includes industry leaders FisherUnitech and TriMech. Nano Dimension's sales coverage now extends across the continental U.S.A. allowing more companies to adopt multi-material precision additive manufacturing for multidimensional printed electronics and prepare for the digital manufacturing era.
In Asia the company has established regional headquarters in Hong Kong, forming a fully owned subsidiary named Nano Dimension (HK) Limited. The company has grown its presence in Asia throughout 2018 along with the recruiting of Gilad Reshef to direct operations and the Hong Kong team. During the year, Nano Dimension appointed several resellers in the Asia region, including Korea's HDC, and Taiwan's General Integration Technology (GIT), all of whom purchased printers. The company's sales in Asia-Pacific also included a second sale to the AURORA Group, a leading distributor of additive manufacturing systems, and one of Nano Dimension's channel partners in China. In addition, the Company entered into a strategic cooperation agreement with Shandong Guohui Investment Co., Ltd.
Nano Dimension is expanding its interactions in these new markets and driving new business opportunities.
In addition to strong sales and partnerships, the market for 3D printed electronics was validated earlier this year when the Nano Dimension-sponsored "Electrifying Additive Manufacturing" industry study confirmed that 91 percent of companies surveyed consider 3D printed electronics as a strategic technology for them moving forward.
"Additive manufacturing of printed electronics is one of the pivotal elements in the move toward Industry 4.0, and we are working very hard in ensuring our partners and customers have the tools they need to participate," said Amit Dror, Nano Dimension's CEO. "We are well positioned to continue accelerating our revenue growth. We've increased our global presence with new customers, resellers and customer experience centers, and, more importantly, we are helping companies accelerate their time to market, increase their design power and improve efficiencies, all while fiercely protecting their intellectual property."
Under the leadership of 30-year industry veteran Dr. Jaim Nulman as Nano Dimension's CTO and eVP Products, the DragonFly 2020 Pro precision additive manufacturing system for electronics is enabling companies to take control of their entire development cycle and plan their routes to fully fledged additive manufacturing.
The system enables designers and engineers to 3D-print metal and polymer simultaneously to deliver in-house prototyping of functional electronics such as sensors, conductive geometries, antennas, molded interconnect devices, printed circuit boards and other innovative devices.
About Nano Dimension Ltd.
Nano Dimension (Nasdaq, TASE: NNDM) is a leading electronics provider that is disrupting, reshaping, and defining the future of how cognitive connected products are made. With its unique 3D printing technologies, Nano Dimension is targeting the growing demand for electronic devices that require increasingly sophisticated features. Demand for circuitry, including PCBs - which are the heart of every electronic device - covers a diverse range of industries, including consumer electronics, medical devices, defense, aerospace, automotive, IoT and telecom. These sectors can all benefit greatly from Nano Dimension's products and services for rapid prototyping and short-run manufacturing. For more information, please visit www.nano-di.com.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. 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, Nano Dimension is using forward-looking statements in this press release when it discusses the potential of its products, that it is expanding its interactions in new markets and driving new business opportunities, and that it is well positioned to continue accelerating our revenue growth. Because such statements deal with future events and are based on Nano Dimension's current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Nano Dimension's annual report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on March 15, 2018, and in any subsequent filings with the SEC. 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. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third-party websites.
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SOURCE Nano Dimension
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