Nano Dimension Ltd. (NASDAQ: NNDM) shares galloped in Monday trading. Nano Dimension disclosed that it has sold a DragonFly 2020 Pro 3D Printer to a global-top-10 defense company.
The Isreali-based Nano, a leading additive electronics provider also said the sale marks this customer’s second purchase of a Nano Dimension 3D printed electronics system. The first system was installed as part of Nano Dimension's beta program in 2017.
Nano Dimension also announced that its U.S. subsidiary has achieved United States Government Certified Vendor status, having received a Commercial and Government Entity (CAGE) Code from the United States Department of Defense’s Defense Logistics Agency. CAGE codes are used extensively within and by the U.S. federal government.
As a registered and approved vendor, Nano Dimension is positioned to pursue and conduct business directly with the U.S. federal government and its many agencies, including the Department of Homeland Security and other United States Department of Defense entities. The defense sector is a key market for additive manufacturing technologies
The DragonFly 2020 Pro 3D printer transforms electronics development by enabling companies to reinvent their development processes as well as their products. The high-resolution system lets designers and engineers 3D-print metal and polymer simultaneously.
"Receiving a CAGE code is a critical step in affirming Nano Dimension’s position in the United States. Now, as a recognized U.S. government additive manufacturing supplier for defense projects, our DragonFly 2020 Pro 3D printer may play a crucial role in projects such as keeping risks down and solving complex design challenges, while speeding the R&D process up significantly," said Amit Dror, CEO of Nano Dimension.
NNDM shares began Monday at $2.71, a climb of $1.37, or 102.2%.
