NESS ZIONA, Israel (Reuters) – Nano Dimension, a pioneer in 3D printers for circuit boards, expects to keep up a steep rate of sales growth while reducing its cash burn as it taps demand from new sectors such as defense and space exploration, the company’s leaders said.
The Israel-based firm, facing possible expulsion from its secondary listing on Nasdaq after a huge fall in its shares since their 2016 peak, is pinning its hopes on new printers, and proprietary inks it began selling in 2017.
Nano - Dimension - US - Defense - Contractor
Nano Dimension has been collaborating with U.S. defense contractor Harris Corp on 3D printing of radio frequency identification amplifiers, which extend antenna range and will be tested on the International Space Station.
“It could save Harris hundreds of thousands of dollars per satellite,” said Chief Executive and co-founder Amit Dror, who said the company expected an improved performance this year compared with last when it made a net loss of $15.5 million.
Year - Dror - Reuters - Future - Sales
“We will be much better than last year,” Dror told Reuters. “Initially, we are looking at the near future to generate sales with large corporations in defense, aerospace, automotive and healthcare and further down the road … consumer products.”
Printed circuit boards (PCBs) have traditionally been made by specialized companies in a process that can take weeks. Nano Dimension said its printers can do the job in hours, saving costs and time while keeping sensitive information confidential.
Nano - Dimension
Nano Dimension has sold more than 30...
Wake Up To Breaking News!