Dec 23, 2015 | By Kira
Nano Dimension, developer of 3D printed electronics systems and proprietary inks, has received a grant approval from Israel’s Chief Scientist that supports the company’s ongoing development of its advanced PCB 3D printer, the DragonFly 2020. The grant, with supports a development budget up to $1.3 million, follows an initial $10.9 in financing raised in June, as well as additional investment agreements totaling $2.2 million in November. It also marks the second year in a row that the Israeli Office of the Chief Scientist (OCS) at the Ministry of Economy has funded the promising Tel Aviv-based company, which has been making significant advances in 3D printed electronics and has successfully met its development targets to date.
Nano Dimension’s total funding, from financing rounds, investment agreements, and this latest OCS grant, will all go towards helping the company develop the Dragonfly 2020, the first inkjet 3D printer dedicated to printing multi-layer PCBs. Combining 3D inkjet, 3d software, and nanomaterials, Nano Dimension’s technologies enable the use of conductive inks for ultra-rapid prototyping of complex, high-performance multi-layer printed circuit boards—an essential and very promising step forward for the future of 3D printed functional electronics.
The company is also known for developing a proprietary range of nanotechnology-based inks for 3D electronics printing. These include a new line of conductive silver nanoparticle inks known as AgCite, and a recently-filed patent for oxidation-resistant conductive copper ink, which would allow industrial 3D printer machines the groundbreaking ability to 3D print with copper—a much less expensive yet equally conductive alternative to silver.
The OCS grant was awarded to Nano Dimension Technologies, a fully-owned subsidiary of Nano Dimension, and it approves a budget of up to $1.3 million, where the contribution by the OCS to the R&D budget is 50% of expenditure. “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,” said Sharon Fima, Chief Technology Officer at Nano Dimension. “We continue to invest in advanced R&D, solidifying Nano Dimension as a leader in the field of 3D printed electronics.”
As of September, Nano Dimension has been accepted to the OTCQX Best Market under the symbol NNDMY, allowing it to trade its American Depositary Receipts and increasing its visibility with US investors. As for the additional $2.2 million funding raised last month, investors include Morris Kahn & family, who also invested in Amdocs (a software and services provider to communications and media companies); and former NICE Systems and Comverse CEO Zeev Bregman.
Posted in 3D Printer Company
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