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Global leader in polymer additive manufacturing enters the metal 3D printing sector, expanding its total addressable market through an investment and commercial agreement
Stratasys Ltd. (NASDAQ: SSYS) announced today that it is strengthening its additive manufacturing (AM) industry leadership position as the go-to choice for manufacturers by investing in and establishing a key business collaboration with industrial metal 3D printing company, Tritone Technologies.
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The agreement brings cutting-edge, industrial scale, production-grade metal and ceramic technology to Stratasys' offering, advancing the company's position as a comprehensive, end-to-end provider of a broad range of AM solutions.
The transaction aims to further reduce barriers to AM adoption by eliminating complexity in choice and vendors that, at times, presents challenges for customers. Tritone's metal and ceramic offering is geared toward serial production and aligns with the Stratasys strategy to address this greater trend in the industry toward manufacturing at scale.
"Manufacturers that trust Stratasys as their AM partner—including in government, defense, and aerospace—frequently ask us to complement our polymer offering with a reliable, industrial-grade metal solution," said Dr. Yoav Zeif, Chief Executive Officer of Stratasys. "After a long search, we found Tritone to offer a unique combination of part quality, cost-efficiency, with a sustainable business model built around consumables and services. This agreement significantly expands our total addressable market."
Participation in the most recent investment round, which includes Discount Capital and Fortissimo Capital, provides Stratasys with an initial minority ownership stake along with a path, at Stratasys' option, to increase its equity stake and potential future ownership. In addition, a phased commercial agreement has been structured to foster close collaboration between the companies, with a focus on supporting Tritone's reseller network and leveraging sales and marketing synergies.
"We believe that the partnership between the two companies - and the strong synergy at its core - will accelerate their growth and deliver meaningful value to the market. Stratasys' extensive experience and global leadership, combined with Tritone's unique technological capabilities, create an exceptional opportunity for us as investors," said Hanoch Papoushado, Chief Investment Officer at Discount Capital.
Tritone offers proprietary metal solutions to customers worldwide that enable industrial throughput of accurate end-use parts suitable for a wide range of industries such as tooling, medical devices, defense, general industrial, and fashion. The company was established in 2017 by industry veterans including CEO Ofer Ben Zur, previous founder of Kornit Digital, a world leader in textile digital printing.
At the core of Tritone's offering is its MoldJet ® technology, a breakthrough metal and ceramic additive manufacturing process that complements Stratasys' polymer jetting expertise. MoldJet is the only powder-free AM technology that enables a high throughput production of metal and ceramic parts at industrial scale and speed that overcomes previous challenges. It is designed for producing complex geometric parts, with high density and industry standard mechanical properties. MoldJet allows a quick and easy changeover between different metal alloys and ceramics which reduces downtime and enables maximum productivity. Parts of different geometries and applications can be manufactured in the same batch.
"This exciting investment and partnership are a strong validation of our team's vision and tireless efforts," said Ben Zur. "Our strategy to deliver innovative solutions to manufacturers is clearly gaining traction. By joining forces with Stratasys, the leading player in additive manufacturing, we're extending the reach of our offerings and giving customers the confidence to adopt AM technology for producing precise parts in metals and ceramics that meet the high standards of industrial production."
For more information about Tritone, visit https://tritoneam.com/ . For more information about Stratasys, visit https://www.stratasys.com/ .
About Stratasys
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world's leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com , the Stratasys blog , X/Twitter , LinkedIn , or Facebook . Stratasys reserves the right to utilize any of the foregoing social media platforms, including Stratasys' websites, to share material, non-public information pursuant to the SEC's Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
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Chris Reese
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Stratasys Corporate, Israel & EMEA
Erik Snider
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+972 74 745 6053
Investor Relations
Yonah Lloyd
Yonah.Lloyd@stratasys.com
+972 74 745 4919
