Nano Dimension, in Collaboration with Harris Corporation, Receives Grant Approval to Develop Hardware that will Fly on the In...
May 30 2019 - 05:00AM
Nano Dimension Ltd., a leading additive
electronics provider (NASDAQ, TASE: NNDM), today announced
it has received a grant approval from the Israel Innovation
Authority for developing hardware, in cooperation with Harris
Corporation, that will fly on the International Space Station (ISS)
and communicate with Harris’ ground based satellite tracking
station in Florida. This project will provide a systematic analysis
of 3D printed materials for radio frequency (RF) space systems,
especially for Nano-satellites.
The total approved budget for the Israeli
portion of this project is approximately $416,000 (NIS 1,500,000),
of which the Israel Innovation Authority will finance 40%.
According to the terms of the grant, Nano Dimension will pay
royalties on future sales up to the full grant amount.
This unique project is being conducted in
collaboration with Harris Corporation, a leading technology
innovator that provides solutions that connect, inform and protect
its clients. The Harris portion of the project is sponsored by a
grant from Space Florida. During this one-year project, both
companies will optimize the designs of the 3D printing process and
RF components and prepare a system for the flight studies at the
ISS.
This project has been selected by the Center for
the Advancement of Science in Space, the manager of the ISS U.S.
National Laboratory, to fly the space flight experiment on the ISS,
using the team’s 3D printed materials and circuits. In this
project, the companies will pioneer the first of a kind space
flight experiment, that will fly in space at low earth orbit for
one year on the ISS, helping to understanding how 3D printed
circuits, systems, and materials will endure in various space
environments.
This project will demonstrate innovative methods
for manufacturing new RF systems. Until now, manufacturing of RF
systems has remained static for the last 30 years with each circuit
in its own “gold box/boxes” interconnected with cables and
connectors. With 3D printing, the industry can explore a new
manufacturing paradigm, that eliminates manual labor and
streamlines production. Another benefit to this technology is a
reduction/elimination of wasted material, making it a “green”
process.
About Harris Corporation
Harris Corporation is a leading technology
innovator, solving customers’ toughest mission-critical challenges
by providing solutions that connect, inform and protect. Harris
supports government and commercial customers in more than 100
countries and has approximately $6 billion in annual revenue. The
company is organized into three business segments: Communication
Systems, Space and Intelligence Systems and Electronic Systems.
Learn more at harris.com.
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.
Forward-Looking Statements
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 collaboration with Harris Corporation and payment of
future royalties to the Israel Innovation Authority. 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 14, 2019, 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.
NANO DIMENSION INVESTOR RELATIONS CONTACT Yael
Sandler, CFO | ir@nano-di.com
NANO DIMENSION PR CONTACT
Galit Beck, Public Relations Manager | 972-542539495 |
galit@nano-di.com
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