Sunrise, Florida, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM), an industry leading Additively Manufactured Electronics (AME)/PE (Printed Electronics) provider, today announced that it has sold a DragonFly LDM® system for additive manufacturing of High-Performance Electronic Devices (Hi-PEDs™) to an Academy of Engineering Physics in the Pacific Rim.
The DragonFly LDM® system is the only technology in the world that uses digital files and 3D simultaneous printing of dielectric and conductive materials to rapidly produce high performance multi-layered electronic parts. The new customer is a leading research institution, focused on research involving plasma physics, material sciences, materials chemistry, and chemical engineering.
Yoav Stern, CEO and President of Nano Dimension, commented: “The fact that another highly respected research institution has chosen our DragonFly LDM® system to enhance their research capacities, demonstrates the power and potential of our world-leading technology. Though our sales pipeline has been affected by the pandemic, we are very pleased with this contract, as it is representative of our primary target markets during the COVID-19 pandemic. Importantly, this contract suggests that the Asia Pacific Region may be in the early stages of recovery from the Covid-19 pandemic, which would bode well for our sales opportunities in that region. As Covid-19 vaccines become widely available in 2021 and pandemic related restrictions are lifted, we are confident that the commercialization of our technology will be accelerated. ”
The DragonFly LDM® system is being deployed in a wide range of industries, including academic and research institutions, defense, aerospace, autonomous automotive, robotics, and biotech. Its ability to enable on-site prototyping in a matter of hours instead of weeks; create products with better performance; reduce the size and weight of electronic parts and devices; enable innovation; and protect IP, which is critically important, represents a paradigm shift in how industry and research institutions will research, develop, and produce Hi-PEDs™.
Yoav Stern added: “Thanks to shareholders’ support, we now have approximately $425M (not including $250 million Registered Direct Offering which was priced on December 27, 2020) in cash and are well positioned to capitalize on our near-term initiatives. During the latter phases of the Covid-19 pandemic, we are focusing our efforts on developing next generation systems with high volume production capabilities. With the support of Needham & Co., we are also actively pursuing M&A opportunities, targeting companies that complement our technology and that will strengthen our sales and distribution channels.”
About Nano Dimension
Nano Dimension (Nasdaq: NNDM) is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). High fidelity active electronic and electromechanical subassemblies are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market and device performance gains, thereby mandating AME for in-house, rapid prototyping and production. Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at unprecedented performance. Nano Dimension bridges the gap between PCB and semiconductor integrated circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials. For more information, please visit www.nano-di.com.
