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NYSE-listed voxeljet moved in on the Chinese market, while an R&D agreement sent Graphene 3D Lab’s share price up over 100 percent.
3D printing stocks saw some movement Tuesday as companies at both the larger and smaller ends of the spectrum released exciting news.
NYSE-listed voxeljet (NYSE:VJET) made progress on cornering the Chinese industrial 3D printing market through a partnership with Suzhou Meimai Fast Manufacturing Technology. Meanwhile, Graphene 3D Lab (TSXV:GGG,OTCQB:GPHBF) signed a research, development and royalty agreement with a Fortune 500-listed manufacturer.
voxeljet moves in on China
voxeljet produces high-speed, large-format 3D printers and provides on-demand parts services to industrial and commercial consumers in the automotive, aerospace, film and entertainment, art and architecture, engineering and consumer product end markets. The company has a market cap of $105.64 million, and at close of day Tuesday its share price was sitting at $5.60, up 0.72 percent.
As mentioned, on Tuesday, the company signed a definitive agreement to form an equity joint venture with Chinese company Suzhou Meimai Fast Manufacturing Technology. The agreement will help voxeljet pursue opportunities in the industrial 3D printing market in China.
The joint venture, set to be headquartered in Suzhou, a city near Shanghai, is named voxeljet China. voxeljet will be the controlling force behind this venture, as it holds a supermajority interest. The company hopes to start providing on-demand parts services in the second quarter of 2016, and intends to move to a larger facility in the future.
In a press release, voxeljet CEO Dr. Ingo Ederer had nothing but good things to say about the partnership: “[w]e are excited to announce our joint venture partnership with Meimai in China as part of our ongoing growth strategy … their experience with our printers coupled with their existing customer base and relationships with end users of industrial 3D printing applications in China is a great benefit. This is a great opportunity for us and we look forward to growing together in the market.”
Graphene 3D Lab signs R&D agreement
For its part, Graphene 3D Lab, which has a market cap of $22.95 million, said Tuesday that it’s signed a research, development and royalty agreement with a Fortune 500-listed manufacturer. The agreement will initially encompass the development of multi-phased deliverables over the next year, but ultimately the plan is for these deliverables to form part of a consumer retail product.
According to the company, research and development costs will be funded by the Fortune 500-listed manufacturer. However, all intellectual property created under the agreement will be held jointly.
Speaking about the agreement, Graphene 3D Co-CEO Elena Polyakova commented, “[w]e expect graphene to become a common ingredient in large-scale manufacturing, and the agreement announced today will likely be a common first-step for traditional manufactures. Manufacturers want the benefits of graphene, but it is a highly-specialized material. We are helping partners develop solutions and processes to incorporate graphene into their existing manufacture processes.”
“We are not just replacing other additives with graphene, we are working jointly with our partners to elevate the potential of their products. Product expertise from our partners, graphene expertise from our lab – the results is new products that can do more than before,” Co-CEO Daniel Stolyarov added.
Investors appear to agree, as the company’s share price increased a whopping 105.26 percent following Tuesday’s announcement. At close of day, the company’s share price was sitting at $0.39.
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Graphene 3D Lab is a client of the Investing News Network. This article is not paid-for content.