Moshe Nur, Chairman of the Board and CEO of the Company: “We are pleased to announce the start of a technical pilot with one of the world’s largest and leading players in digital printer manufacturing. This pilot continues the Company’s strategy to become a leading global supplier in a green world of environmentally-friendly water-based pigment inks - designed for use in printers and digital printing systems”.
“We believe that the application of our inks in the relevant industry, direct digital printing on garments (DTG), will increase the global market by approximately 15%, opening for the Company a gateway to a huge market worth $5 billion annually in addition to other applications targeted by the Company in huge, multibillion dollar markets”.
As part of the pilot, the ink, which is designed for printing directly on to t-shirts and other garments will be installed in an industrial printer made by the digital printing manufacturing corporation. The engagement is part of the Company’s OEM White Label business strategy for collaborating with leading players in the global printing industry, inter-alia, companies such as Epson, Roland, Ricoh, Brother, EFI, Mimaki, Agfa, Kodak, among others.
In the Company’s estimation and in accordance with the agreements with the customer, insofar as the pilot is successful, the digital printing corporation intends to install the Company’s ink at several end-customer sites for a paid commercial pilot. The pilot is expected to last for a period of between 4 and 6 months (between 6 and 9 months from the date of this announcement).
The Company estimates that this engagement will advance the Company’s research and development efforts and that successful application of the ink in the industry relevant to this pilot will enable various applications that are currently unavailable for the vast majority of the digital printing market (for example: printing on dark garments made of 100% polyester), and consequently increase the general markets of direct-to-garments and direct-to-textile printing and expand the use of water-based pigment inks, and expedite the arrival of the company's products. The business engagement model between the company and the digital printer's corporation, insofar as the pilot process is completed, is expected to be the OEM Private Label model of multi-year ink supply.
