Plans to Introduce a Unique Printer for the Electronics Industry Utilizing PV Nano Cell's Proprietary Inks
MIGDAL HA'EMEK, ISRAEL / ACCESSWIRE / December 18, 2017 / PV Nano Cell, Ltd. (OTCQB: PVNNF) ("PV Nano Cell" or the "Company"), an innovative producer of conductive digital inks, today announced the closing of its acquisition of DigiFlex, a digital printer manufacturer. The all-stock transaction was valued at $10 million and represents 25% of PV Nano Cell on a fully diluted basis, post transaction.
Additionally, certain shareholders of DigiFlex and its subsidiary, JetCU P.C.B. Ltd., committed to investing $1,100,000 in PV Nano Cell, of which $500,000 has already been invested, and an additional $600,000 is expected to close by the end of 2017.
The acquisition of DigiFlex continues PV Nano Cell's strategy to strengthen its presence as DigiFlex printers will be adapted to serve the electronics industry by making available a very unique printer, enabling PVN to expand its markets and technologies. As a result of the purchase of DigiFlex, both companies will be able to expand their services provided to their customers.
Currently, DigiFlex generates approximately $300,000 annual revenue, but believes it will be able to accelerate its revenue growth by now including PV Nano inks. The new adapted printer will serve the prototyping, design and R&D markets only and will not look to compete with the mass production (high throughput) printers and printer producers.
DigiFlex offers PV Nano Cell a number of key printer technologies and inks that will allow us to implement a comprehensive Complete Solution Approach for our customers. As a result, PV Nano Cell will have the unique ability to support Additive Digital design, prototyping and mass production of electronic devices, such as PCBs, all in one. The Company believes this approach will be very attractive to customers, especially when coupling it with its cost-efficient and mass production compatible line of Sicrys™ silver and copper conductive inks.
The DigiFlex's digital printing technology platform – printers and polymer based inks, expands PV Nano Cell's Sicrys™ conductive inks based solution, which will provide the Company with the opportunity for a recurring revenue stream. Sicrys™ offers the most effective conductive silver ink available and at a price that is unbeatable for customers today. In addition, the Company believes that the introduction of Sicrys™ copper ink is going to help revolutionize the industry, as the affordability of these types of conductive inks opens up its products to much of the printed electronics market
This combination supports a strategy to go to market with a printer system that has been praised industry wide. The efficiency, accuracy, narrow patterning and multi-ink, multi-layer capabilities of the DigiFlex FlexoJet is an attractive solution for design, prototyping and small batches production of electronic devices. These capabilities can be directly transferred to mass production printers that are part of PV Nano Cell's customer focused 'complete solution' approach.
DigiFlex develops, manufactures and distributes the DigiFlex FlexoJet 1725, a revolutionary inkjet-based Computer-to-Plate solution for photopolymer flexographic, letterpress, dry-offset, and silk screen printing technologies. This unique system allows high quality, affordable analog plate materials to be imaged digitally, producing superior results with very low initial and ongoing costs. DigiFlex operates globally with distribution channels in Europe, North America and the Far East.
PV Nano Cell, Ltd.
PV Nano Cell has developed innovative conductive inks for use in printed electronics (PE) and solar photovoltaics (PV) applications. PV Nano Cell's Sicrys™ ink family is a single-crystal, nanometric silver conductive ink delivering enhanced performance. Sicrys™ is also available in copper-based form, delivering all of the product's properties and advantages with improved cost efficiency. Sicrys™ conductive inks are used all over the world in a range of inkjet printing applications, including photovoltaics, printed circuit boards, antennas, sensors, touchscreens and other applications. For more information, please visit www.PVNanoCell.com.
This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward–looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company operates; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, and sign new agreements. For a more detailed description of the risks and uncertainties affecting PV Nano Cell, reference is made to the Company's latest Annual Report on Form 20-F which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by the Company in reports filed with, or furnished to, the SEC. Except as otherwise required by law, the Company 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.
Released December 18, 2017