About Nano Dimension

Nano Dimension Ltd., together with its subsidiaries, provides additive electronics. The company’s technology strategy is rooted in the application of deep learning based AI to drive improvements in manufacturing capabilities by using self-learning and self-improving systems, along with the management of a distributed manufacturing network via the cloud. The company’s deep learning based AI led manufacturing systems are used to 3D print and assemble high-performance electrical and mechanical applications. The company’s series of 3D printing, robotics, and control systems enable key enhancements, such as weight reduction, miniaturization, agile innovation, and rapid fabrication of critical components that have met the needs of thousands of customers in the most technologically advanced, competitive, and innovative industries such as aerospace/defense, automotive, electronics and PCB, industrial, medical, and research and development/academia. The company’s deep learning based AI platform Deepcube is novel compared to other AI solutions based on its ability to improve hardware performance; thus, enabling its application on a distributed network of manufacturing solutions. This is based on DeepCube’s pioneering software inference accelerator, which drastically improves yield, quality, and throughput on additive manufacturing hardware. DeepCube’s propriety algorithms increase the speeds of data analysis tenfold, making it the only hardware performance accelerator of its kind. The company’s portfolio of 3D printers include AME inkjet printers known as DragonFly IV that produce PCBs and electronic devices by simultaneously depositing proprietary conductive and dielectric substances while integrating in situ capacitors, antennas, coils, transformers, and electromechanical components, Micro Additive Manufacturing (Micro-AM) Digital Light Processing (DLP) printers known as Fabrica 2.0 that achieve production-grade micron-level resolution polymer and composite parts, and Industrial AM DLP printers known as Admaflex utilizing a patented DLP foil system that fabricates strong and complex ceramic and metal parts. The company’s 3D printing portfolio is complemented by a range of consumables, also known as materials, including inks, resins, and slurries. The company also offers software to provide engineers with the tools to bring precision and electrical parts from design-to-manufacturing. The company’s suite of Additive Electronics robotics includes Surface Mount Technology (SMT) suite of production equipment for Hi-PEDs and PCB assembly known as Essemtec with a number of products, and Ink Delivery Systems (IDS) controls for digital printing solutions known as Global Inkjet Systems for software, drive electronics, and ink delivery systems. As a part of scaling its operations, the company has offices spanning across the United States, Australia, Germany, the U.K., Switzerland, the Netherlands and Israel. The regional offices are designed to accelerate the adoption of additive manufacturing for electronics development and serve as customer and training facilities and sales support centers. On January 4, 2022, the company acquired Global Inkjet Systems Ltd. GIS (GIS), which is a leading developer and supplier of high-performance control electronics, software, and ink delivery systems. GIS is well known for inventing and delivering state-of-the-art 2D and 3D printing inkjet hardware and unique operating software. GIS has more than 130 customers around the world with a focus on high-value, precision-oriented applications, such as specialized direct-to-container packaging, printed electronics functional fluids, and 3D printing, which can all be controlled by the proprietary software system. Strategy The company is committed to the development of systems, materials, software, AI, and solutions that will advance its capabilities and core technology surrounding additive manufacturing of electronic and precision applications. The company is advancing its commercialization efforts and infrastructure to connect, development relationships, and make sales. The company’s GTM efforts are led by management with prior successes in building and growing technology-focused sales and marketing organizations. The company’s organization is global, with offices in the United States, the Netherlands, the United Kingdom, Switzerland, Germany, Israel, Hong Kong and Australia, providing significant reach and local market expertise. The company has invested in creating the critical talent, technology, and physical infrastructure for the Go-To-Market of advanced manufacturing for its existing portfolio and the base for any new releases or acquisitions. The company focuses on synergetic M&A of systems, materials, software, AI, and solutions that build up to deliver comprehensive solutions to mutual vertical market segments. The company has a team of M&A professionals and partners who have and continue to help it identify and evaluate a range of opportunities, most of which are in North America and Europe, that will help it deliver on the above strategy, while also providing a return-on-investment for shareholders. Products 3D printers The company offers three types of 3D printers: AME: Inkjet printers (DragonFly series) that produce Hi-PEDs by simultaneously depositing proprietary conductive and dielectric substances while integrating in situ capacitors, antennas, coils, transformers, and electromechanical components. Micro AM: DLP printers (Fabrica series) that achieve production-grade polymer and composite parts with ultra-high features, details, accuracy, and precision– enabled by the innovative Micro Adaptive Projection DLP technology. Industrial AM: DLP printers (Admaflex series) utilizing a patented foil system that fabricates strong and complex ceramic and metal parts. Additive Electronics Robotics and Control Systems The company offers two main robotics solutions : Surface-Mount-Technology (SMT): Electronics assembly equipment for electronic components on Hi-PEDs® and PCBs, catering to various manufacturing and volume requirements. IDS: High-performance control electronics, software, and ink delivery systems for digital printing. Consumables and Technology The company offers a range of complementary consumables and technology for use with each of its 3D printers, robotics, and systems: Materials: The company sells a range of materials that are developed in-house for each of its 3D printers, which include nanoparticle conductive and dielectric inks, polymer and composite resins, and ceramic and metal slurries. The sale of these materials provides a recurring revenue stream from customers of the company’s 3D printers. Software: The company offers software for each of its solutions. For its 3D printers, the software enables design and manufacturing and includes its FLIGHT software for its AME system, and AM printer software for Fabrica and Admaflex systems providing in-process monitoring, traceability, and print preparation. For its SMT solutions, the company’s SMART software suite provides all the requirements for a modern electronic manufacturing environment. For its IDS solutions, the company’s Atlas software provides a unique, modular software suite to manage the entire data path from image to print for the inkjet industry. As a part of its NanoFabrica acquisition, the company acquired its 3D additively manufacturing printing system. In August 2021, NanoFabrica was renamed Fabrica Group and its 3D additively manufacturing printing system renamed Fabrica 2.0 System. In October 2021, the company delivered the Fabrica 2.0 System for micro precision additive manufacturing to a leading Western homeland security agency. In December 2022, the company announced the sale of two Fabrica 2.0 Micro-AM systems to Accumold, an expert in micro molding from Iowa, in the United States. In January 2023, the company announced the delivery of the Admaflex130 Evolution, which is the first of its next generation high precision ceramics and metal fabrication system, to the Karlsruhe Institute of Technology. As a result of its acquisition of Essemtec, the company acquired production equipment for placing and assembling electronic components on PCBs. Additionally, the company also acquired adaptive highly SMT pick-and-place equipment, sophisticated dispenser suitable for both high-speed and micro-dispensing, and intelligent production material storage and logistic system. These products are equipped with a sophisticated software package which makes extensive and efficient material management possible. The uniqueness of this high-tech solution is that it can be adjusted quickly and easily to meet wide ranging requirements, they are able to respond to all manner of customer needs, particularly in high-mix-low-volume production environment. As a result of its acquisition of Formatec Holding B.V. (Formatec Holding), the company acquired two complementary businesses operating together, which were part of the U.S.-based Precision Surfacing Solutions. Admatec and Formatec are a leading developer and manufacturer of additive manufacturing and 3D printing systems for ceramic and metal end-user parts. Their industry-grade systems - powered by digital light processing technology - use materials with superior mechanical, electrical, thermal, biological, and chemical properties to produce an array of parts for medical, jewelry, industrial, and investment casting uses. Admatec’s and Formatec’s industrial production service division is a design-to-production partner for industrial-scale customers via its service bureau platform that combines the advantages of injection molding and additive manufacturing. Both means of production have served as a strategic advantage in working with customers, from early-stage ideas into serial production of end-use parts. Intellectual Property The company has an ever growing portfolio of over 80 issued U.S. and foreign patents and over 190 provisional and non-provisional patent applications with the U.S. Patent and Trademark Office (USPTO), the World Intellectual Property Organization (WIPO) filed through the Paris Convention Treaty (PCT), and with the respective patent offices of China, Europe, South Korea, Japan and Taiwan. The company’s growing patent portfolio can be divided into five main areas: Mechanical: Covering printer components and peripherals, for example- granted U.S. patents (9,227,444, 9,259,933, and 9,878,549), as well as several patent applications, directed to components and systems varying from print heads regeneration systems, print heads cleaning and ink recycling systems. Chemical: Covering ink compositions and related nanoparticles, both dielectric and conducting. For example, several were granted in the U.S. (10,385,175, 10,626,233, 11,155,004), Chinese (201580058899.5) and South Korean (10-2017-7013551) patent offices. Other chemical applications are directed to flexible ink (10,893,612), Ceramic Ink Compositions, and support inks (11,446,858). Applications: Covering 3D printing applications and computer applications. The 3D printing applications are directed to various methods of printing additive manufacturing electronics, flexible printed circuits (FPCs) and high-density interconnects (HDIs) circuits with embedded components. Additional filings were directed inter-alia to composite printing, shielded traces (10,905,017), fabricating SMT mounting sockets (11,395,412), bridging members between integrated circuits, vertically embedded integrated circuit (IC) wells and their interconnectivity, as well as coreless transformers. Industrial Design/Design: Covering the ornamental aspects of the printer and various printer components. Artificial Intelligence/ Deep Learning: Covering an efficient technique of machine learning that is provided for training a plurality of convolutional neural networks (CNNs) with increased speed and accuracy using a genetic evolutionary model (US 10,339,450); storing sparse neural network (US 10,366,322); approximating multi-synaptic/filters neural network that can be partially-activated by iteratively executing partial pathways to generate partial outputs (US 10,515,306, 10,878,321); mimicking pre-trained target model without access to the pre-trained target model or its original training dataset (US 10,699,194); training or prediction of a neural network (US 11,055,617); and training or prediction of neural networks using a cluster-connected neural networks (US 11,164,084). In addition to patent applications, in 2014, the company entered into an exclusive license agreement with the Research and Development Company of the Hebrew University of Jerusalem, Ltd., or Yissum, for two patents that cover the unique method of manufacturing its consumable nano-conductive ink for the 3D printing of electronic circuits. The agreement was amended and restated in April 2015. Pursuant to the license agreement, the company will be required to pay Yissum low to mid-single digit percentage royalties on sales of its conductive ink. The exclusive license agreement is in effect for the longer of remaining usable life of the patents and patent applications, or 15 years from the first commercial sale of a product relating to the licensed technology in the country in which the first commercial sale occurred. In addition to the patent portfolio, in its Admatec division, the company’s patent portfolio can be divided to three main areas: Mechanical: Covering foils (e.g., UK 3094478), conditioning units (e.g., US 11,141,909), laserflex (e.g., NL 2015381), and abrasive; Applications: Control of glass temperature (e.g., NL 2021611); and Materials: Metals and precursors (e.g., 2018890). In addition to the patent portfolio, in its GIS division, the company’s growing patent portfolio can be divided into two main areas: Direct To Shape: methods for printing onto 3-dimensional surface (e.g., US 11,463,603); and Drive Electronics: Electronics for improved performance when driving piezo inkjet print heads (e.g., US 9,079,396 and US 8,860,388). Sales and Marketing The company began commercializing its first professional grade 3D Printer, the DragonFly Pro 3D printer, during the fourth quarter of 2017. In 2019, the company introduced its new DragonFly LDM printing technology. In 2021, the company introduced its new DragonFly IV printer and FLIGHT software platform. The company focuses on accelerating its direct reach to end-customers through direct sales. Research and Development For the year ended December 31, 2022, the company incurred $75,763,000of research and development expenses. History Nano Dimension Ltd. was incorporated in 1960.