Nano Dimension Ltd · NASDAQ:NNDM
Nano Dimension — Investor Presentation (November 2020)
66 slides from Nano Dimension's investor presentation, Nov 12, 2020
Slide 1: Corporate Presentation November 2020
NASDAQ : NNDM 1 Corporate Presentation I Nasdaq: NNDM I November 2020 I nt el l i gent M achi nes, C onsum abl e C onduct i ve & D i el ect r i c I nk M at eri al s 3 D - PRINTED ELECTRONICS ADDITIVELY MANUFACTURED ELECTRONICS ( AME)
Slide 2: Forward Looking Statements
PR I N T E D EL EC TR O N I C S ( PE) / AD D I TI V E LY M AN U FA C T U R E D EL EC TR O N I C S ( AM E) Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 2 Forward Looking Statements This presentation of Nano Dimension Ltd . (the “Company”) contains “forward - looking
Slide 3: Table of Contents
• Executive Summary • Business Model • Technology • Market • Business in Times of Corona • Strategy & Tactics • Appendix TABL E O F C O N TE N T S Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 3
Slide 4: Nano Dimension
NA NO DI ME N S I O N • Additive Manufacturing Electronics (AME) industry leader • More than a dozen granted patents, and more than three dozen patent applications • First - to - Market advantage • The only technology that converts digitally electronics circuits into functional high performance devi
Slide 5: AME Technology Vision: Bridging the Gap
TRADITIONAL INTEGRATED CIRCUITS ( IC, Chips, CPU, ASICs) TRADITIONAL PRINTED CIRCUIT BOARDS (PCB) DragonFly LDM & Ink Materials Design Proof of Concepts Prototype & Early Fabrication of HiPEDs Ρ (High Performance Electronic Devices) Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All r
Slide 6: Our Mission
Our DragonFly Œ AME Machines (controlled by AI algorithms) produce electronic devices by simultaneous 3D - injection of dielectric and conductive materials to fabricate, within hours: Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 6 H igh P erformance E lectronic D ev
Slide 7: Biotech-like Investment Model
Stage 0 Stage I Stage II Stage III Stage IV Stage V ○ Stage I Materials Co mm e rc ial - Sp e cs Materials I ndus tr ial - Sp e c s Materials M il - Spec s LPV: Low Production Volume System MPV: Medium Production Volume System ○ Stage II ○ Stage III ○ Stage IV ○ Stage V t oday Nasdaq: NNDM I www.nan
Slide 8: Nano Dimension Offering
NA NO DI ME N S I O N OF F E RI N G AM E 3D - PR IN T I N G SYST EM S DRA G O NF LY LDM , DRA G O NF LY P I K NaNo S ℠ – 3 D F A B RI CA T I O N S E RV I CE F O R T HE P RO DUCT I O N O F Hi - PED s T M ○ System ○ Training and Support ○ Leasing Options ○ Co - creation / Design ○ Prototyping ○ Low Vo
Slide 9: Nano Dimension Customers
Nano Dimension Customers : • 3 Multi - billion US$ defense manufacturers • 2 European defense companies and multiple secret services • 1 Multi - billion US$ valued technology conglomerate • Multiple leading research institutions around the world NA NO DI ME N S I O N : APP R O X . 60 S YS T EM S G L
Slide 10: Return on Investment: Prototyping
RE T U R N ON I NV E S T M E N T: P ROT OT Y P I N G D E S I G N E C A D P r o o f o f C o n c e p t ( P o C ) & P R O T O T Y P I N G T E S T I N G T O O L I N G P R O D U C T I O N D E S I G N E C A D P o C & P R O T O - T Y P I N G T E S T I N G T O O L I N G P R O D U C T I O N W E E K S D A Y S
Slide 11: Return on Investment: Production
RE T U R N ON I NV E S T M E N T: P ROD U CT I O N D E S I G N E C A D P r o o f o f C o n c e p t ( P o C ) & P R O T O T Y P I N G T E S T I N G T O O L I N G P R O D U C T I O N D E S I G N E C A D P o C & P R O T O - T Y P I N G T E S T I N G P R O D U C T I O N M O N T H S Nasdaq: NNDM I www.na
Slide 12: Additive Manufacturing of Electronics
A DDI T I V E MA NUFA CT U R I N G OF 3 D E L E CT RO N I C S H igh P erformance E lectronic D evice s Œ : Hi - PEDs Œ Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 12
Slide 13: Nano Dimension's Fabrication Services: NaNoS
NA NO DI ME N S I O N ’ S 3 D FABR I C ATI O N SER VI C E S : Na No S ℠ • Nano Services (NaNoS ℠ ) is an offering for customers who need to get their hands - on complex, multilayered high - performance electronics with a quick turnaround time. • Provide services to customers around the globe with it
Slide 14: DragonFly LDM: A Digital Factory in a Box
DRA G O NF LY L DM: A DI GI TA L FA CT OR Y I N A B OX A LL O F TH I S … Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 14 … REPL ACED W I T H T HI S!
Slide 15: How Does It Work?
T H E O BJ EC T I S BU I L T U P, L AYE R BY L A Y E R , TH R O U G H FU LL S TA C K T H I CKNE SS: ○ Conductive layers & dielectric layers ○ Drills and vias bottom up printed ○ Soldermask & annotation Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 15 HOW DOE S I T W
Slide 16: Certifications
C ER TI FI C ATI O N S In - house DragonFly system manufacturing FCC, CE, UL, CSA, EAC In - house nano ink manufacturing – capacity to meet future demand Top quality certified ISO14001 and OHSAS18001 ISO 45001 and RoHS Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 16
Slide 17: Why Additive Manufacturing for Electronics?
W HY A DDI T I V E MA NUFA C T U RI N G F OR E L E CT R O NI C S ? R APID PR O T O T YP I N G A DV A NCE D P RO DUCT S : H i PED F ABR I C AT I O N DI G I T A L I NV E NT O RY T O MO RRO W Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 17 Benefits: Shorten your Time -
Slide 18: Our Customers Are Innovators in Leading Markets
Reduce time to market and optimize design for medical devices, biomedical sensors and in - vivo applications. AME optimizes electromechanical parts for: smart products, IoT, sensors, autonomous driving, electric vehicles, 5G networks. Keep your IP in your lab with the DragonFly LDM System and save t
Slide 19: Case Studies & Cooperation
NA NO DI ME N S I O N : C AS E STU D I E S & C O O P E R ATI O N I. Research Institutes: CBN - IIT II. Aerospace: HARRIS III. Defense: HENSOLDT IV. Medical: PIEZOSKIN V. Automotive: REHAU Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 19
Slide 20: Customer Case I: CBN-IIT, Italy
The suitability of the DragonFly system to rapidly and affordably manufacture functional prototypes, combined with the broad ecosystem of applications for health and energy harvesting, makes it an ideal choice for our team to achieve higher performance, quick development and print complex shapes not
Slide 21: Cooperation Case II: Harris, USA
The ability to manu - facture RF systems in - house offers an exciting new means for rapid and affordable prototyping and volume manufacturing. The results of the study provide substantial motivation to develop this technology further. Dr. Arthur Paolella, Senior Scientist, Space and Intelligence Sy
Slide 22: Customer Case III: HENSOLDT, Germany
HENSOLDT and Nano Dimension Achieve Breakthrough in Electronics 3D Printing HENSOLDT succeeded in assembling the worlds first 3D printed 10 - layer printed circuit board (PCB) which carries high - performance electronic structures soldered to both outer sides. This allows rapid prototyping inhouse o
Slide 23: Customer Case IV: Piezoskin, Italy
CUS T OM E R CA S E I V: PI EZO S K I N , I TALY Nano Dimension’s AME technology helped us to achieve an original product prototype, in which wires and connectors were eliminated and the package was minimized, to obtain an optimal user experience. It simplified the manufacturing process, as compared
Slide 24: Customer Case V: REHAU, Germany
CUS T OM E R CA S E V: RE H A U, GE RMA N Y With the DragonFly LDM we will drive forward REHAU’s “Electronics into Polymers” strategy to speed up in - house electronics development and find new installation spaces and functions for our products. Dr. Philipp Luchscheider, REHAU Engineer behind the 3D
Slide 25: New Manufacturing Possibilities with the DragonFly LDM
P R I NT ED C A PACI T O R S ○ High Accuracy Capacitors Integrated in the board ○ 50 layers RA P I D P RO T O T Y P I N G I NHO U S E ○ Months > days ○ Dozens of layers, both sides populated R F A M P LIFI E R FO R ○ Light weight ○ Integrated design ○ < 1db gain difference S P A C E I N N O VAT I VE
Slide 26: High Performance Electronic Devices
NASDAQ: NNDM I www.nano - di.co m | © 2020 Nano Dimension. All rights reserved. 26 LOW PASS FILTER 3D MID COILS & INDUCTORS RF ANTENNAS AME CIRCUIT WITH SIDE MOUNTED AND INSERTED COMPONENTS AME CIRCUIT WITH INTEGRATED FUNCTIONAL CAPACITORS VERTICALLY STACKED INTEGRATED CIRCUITS IOT/WIFI ACCESS POINT
Slide 27: Additive Manufacturing of 3D Electronics
3D Printed Electronics Components (Capacitor, Inductor, Transformer, Antenna) Non Planar Shape and 3D Structural Elements (Cavities, Special Shapes) RF&MW Embedded Components Converter and Chargers (DC, AC) High Layer Count Circuits > 50 Multi Stacking ICs, Packages, Side Mount & Contacts, Free Form
Slide 28: Nano Dimension: Financial Data
NASDAQ NNDM ADS ratio: 1:1 Shares Outstanding: ~ 71,200,000* * As of October 30 th , 2020 ~ $80M invested mostly in R&D, over 6 years • Cash: $107M / No debt * • Revenue growth of ~39% in 2019 compared to previous year • Significant trend of Gross Margin improvements NA NO DI ME N S I O N : FI N AN
Slide 29: Business Model: Recurring Revenue Model That Scales
Razor - Razorblade Model: • As the installed base of systems grows, the recurring revenues from consumables increases. • Positive trend of increased ink consumption by customers is a validation to our recurring - revenue business model. • Printed Electronics (“PE” or “AME”) and Consumable Materials:
Slide 30: Nano Dimension's Fabrication Services: NaNoS
NA NO DI ME NS I O N ’ S 3 D F ABR I C A TI ON SER VI C E S: Na No S ℠ • Nano Services (NaNoS ℠ ) is an offering for customers who need to get their hands - on complex, multilayered high - performance electronics with a quick turnaround time. • Provide services to customers around the globe with its
Slide 31: Nano Dimension Evolution
I ndustr i a l : Early Product 2018 - 2019 DragonFly Œ Pro Early Adopters: Fast Prototyping & Low Volume Production Q3 2019 First Prototype 2013 - 17 DragonFly Œ LDM DragonFly Materials & Process Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 31 Functional Unique Elec
Slide 32: Why Additive Manufacturing for Electronics?
W HY A DDI T I V E MA NUFA C T U RI N G F OR E L E CT R O NI C S ? Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 32 I NCRE A S E design possibilities P R OT E CT IP AC C EL ER A T E time to market IM P R OV E effi c i ency Approx . 60 3D - Printing DragonFly Machines
Slide 33: Biotech-like Investment Model
Stage 0 Stage I Stage II Stage III Stage IV Stage V ○ Stage I Materials Co mm e rc ial - Sp e cs Materials I ndus tr ial - Sp e c s Materials M il - Spec s LPV: Low Production Volume System MPV: Medium Production Volume System ○ Stage II ○ Stage III ○ Stage IV ○ Stage V t oday Nasdaq: NNDM I www.nan
Slide 34: 3D Printed Electronics Market
0 500 1000 1500 2000 2500 3000 3500 4000 $M 4500 3D PRINTED ELECTRONICS MARKET 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 IDTECHEX 2019 DataM Intelligence, 2018 Transparency Research 2018 Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 34 IDTechEX (2019) • The t
Slide 35: Nano Dimension: Revenue Drivers
Emerging Technologies • Communication 5G/RF • Heterogeneous Integrations • Aerospace (i.e. micro - satelites) • Defense • Medical (i.e. in - vivo devices) • Automotive Revolution (electrical, autonomous) Hi - PEDs Œ Necessitate • Fast time - to - market • IP safety in - house rapid prototyping and
Slide 36: Management: Yoav Stern
• Yoav Stern – President & CEO (Joined 01 / 2020 ) – Investor and Chairman Cyber, Fintech and Mobile/Visual Tech (USA) . President & CEO DVTEL Inc . (Sold to FLIR Systems ) ( NJ, London, Tel Aviv, New Delhi, Adelaide, Singapore, Hong Kong, Taiwan ) . A turn - around executive in the Homeland Securit
Slide 37: Management: Dr. Jaim Nulman
• Dr . Jaim Nulman – EVP Products & CTO (Joined 2018 ) – VP of Applied Materials , where he commercialized the Endura PVD system , the most successful semiconductor manufacturing product reaching market share from 0 to over 60 % and a $ 1 B in revenue in less than 5 years, with one of the highest gr
Slide 38: Corona Is Affecting Businesses
All present customers were out - of - office until July 2020. Some until now. (Mostly USA) • Chinese companies returned on 5/2020 but still delaying all purchases of Capital Equipment. • European business in June - July but delayed most CapEx deployments. • USA corporations projected June as “back -
Slide 39: Plan for Riding the Elephant
P L AN F O R 20 21 : RI DI NG T HE E L E P HA NT • Started a Prototyping/Fabrication Services Business: NaNoS (Nano Services) • Expand NaNoS as revenue generator , but mainly as a route for DragonFly purchases once CapEx are released post Corona • M&A search directed at targets that will enable to l
Slide 40: Plan for 2021-22: Riding the Elephant
Stage III Next - Gen Machine (“ NG ”) with new materials which fit mil - specs: Multiple Inks; Support Material Stage IV New Machine, production - runs capability and throughput for such Stage V Large Chuck, highest throughput and lose - loop real - time quality inspection and assurance modular - co
Slide 41: Traditional PCBs: Prototyping
Prototypes are often created by sending digital designs (typically from the US or Europe to China) and waiting 7 to 21 days to receive a PCB back. This is slow, costly and puts core intellectual property at risk. Designs PCBs TR AD I TI O N A L PC Bs : P ROT OT Y P I N G Nasdaq: NNDM I www.nano - di
Slide 42: Post Corona World: Moving Supply Chain In House
P OS T CORO N A W ORL D: MOV I NG S UP P LY CHA I N ‘ I N HOUS E ’ Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 42 “ Even as China comes back online, we are beginning to wonder if Covid - 19 will impact other supply - oriented geographies… …While China is improving,
Slide 43: Supply chain disruption commentary
• " The global supply chain right now is disrupted; we are seeing disruptions across the board... the high - tech industry is heavily reliant on China and parts of Asia." (Bloomberg)² • “ ...heat from the Trump administration’s 25% tariffs on many machinery parts from China, as well as rising politi
Slide 44: The American Dream: Bringing Factories Back to the U.S.
OCTOBER 12th, 2020: The American Dream: Bringing Factories Back to the U.S. (1) A report from the McKinsey Global Institute found “180 products across value chains for which one country accounts for 70% or more of exports, creating the potential for bottlenecks.” Worse, many of those products come f
Slide 45: Nano Dimension: Leading the AME Revolution
NA NO DI ME N S I O N : L EAD I N G TH E AM E R EV O L U TI O N Market Growth – Additive Manufacturing This chart provides revenues (in millions of dollars) for AM products and services worldwide. The lower (blue) segment of the bars represents products, while the upper (gray) segment represents ser
Slide 46: Growth company with significant technology and first mover advantage. • Approx. 60 3D -
Growth company with significant technology and first mover advantage. • Approx. 60 3D - Printing DragonFly Machines with leading defense & research organizations and Increasing recurring revenue of proprietary inks • Shortening prototyping time while creating multi - layer Hi - PEDs Œ in house. • R&
Slide 47: Appendix: Additive Manufacturing for Electronics
NASDAQ : NNDM 47 Appendix Additive Manufacturing for Electronics
Slide 48: Traditional PCBs: History
Pre - PCB electronic circuit with rat's nest wiring. Before the 1950s, electronic circuits were assembled using individual wires to connect each of the components (Pic 1). The components were then mounted on what were known as tag strips and sockets. The first circuit boards were made by laminating
Slide 49: Traditional PCBs: Mounting Components
The vast majority of electronic circuits are now made using Printed Circuit Boards (PCBs) . These are copper - clad fiberglass or epoxy boards that have the copper selectively etched away to leave conductive traces . Components can be mounted through drilled holes (left) or on the surfaces of the bo
Slide 50: Traditional PCBs: Geography
Around 90% of all PCBs are manufactured in the APAC region. China are the largest producer with around 43% market share followed by Japan and South Korea with 15% and 13%, respectively. Intellectual Property (IP) is cited as a major cause for concern. Hardware design companies regard their PCB desig
Slide 51: Nano Dimension: PCB vs AME
Double PCB Layer Multilayer PCB • Single - sided PCBs are very limiting in terms of connection topology . With single - sided PCBs, most circuits require the ability to join two conductive tracks using a wire . • Double - sided PCBs alleviate this problem by allowing connections through holes from o
Slide 52: Traditional PCBs: Layers
37 % 13 % 2 % 12 % 15 % World PCB production by type 5% 16% Single sided 2 - 6 layers 8 - 16 layers 18+ layers Microvia Substrate Flex & R - Flex Many PCB designs, particularly analog or high - frequency digital circuits, employ a ground plane. This is a large area of copper foil that provides a low
Slide 53: Traditional PCBs: Layers
Traditional PCBs are a mature technology, and their limitations are well understood. High - end multilayer PCB manufacture is tricky and expensive, and prototypes are usually made externally and often off - shore. Traditional PCBs are both rigid and flat. This imposes constraints on design that usua
Slide 54: Traditional PCBs: Mechanics
Rigid PCBs can be connected together using flexible interconnects to offer a bit more design freedom but the physical limitations are obvious, particularly in the light of massive emerging markets like wearable technologies. The physical strength of fiberglass board makes it possible to use a tradit
Slide 55: Traditional PCBs: Thermal
Components such as power semiconductors can generate a lot of heat thatmust be dissipated in order to keep the device running within temperature tolerances. Temperature is responsible for 55% of all electronic circuit failures. Specifically, the failure rate of an electronic device doubles with ever
Slide 56: Traditional PCBs: Strengths and Weaknesses
Strengths Weaknesses • Established technology : ~ $ 60 bn industry . • Physically strong . • High electrical conductivity (σ = 5 . 96 î 10 7 S/m) from solid copper traces typically 36 μm deep facilitates analog and high - frequency digital circuits . • Can withstand temperature extremes, humidity, m
Slide 57: 3D-Printed Hi-PEDs
NASDAQ : NNDM 57 3 D - Printed Hi - PEDs Œ Nano Dimension® Confidential and Proprietary
Slide 58: Nano Dimension: 3D-Printed Hi-PEDs
NASDAQ: NNDM I www.nano - di.co m | © 2020 Nano Dimension. All rights reserved. 58 Example of Hi - PEDs Ρ : • LOW PASS FILTER (LPF) • VERTICALLY STACKED INTEGRATED CIRCUITS (ICS) • RF ANTENNAS & AMPLIFIERS UP TO 6GHZ • FUNCTIONAL CAPACITORS BY ADDITIVE MANUFACTURING • IN PCB PLANAR DC - DC UP CONVER
Slide 59: Example of Hi-PEDs: Low Pass Filter
Printed LP X - ray of Printed LP LPF uses AME capacitors fabricated simultaneously inside the AME board together with strip lines. The AME capacitor and the strip line can be placed on any layer or on different layers in the AME board A ME - 30dB Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimens
Slide 60: Example of Hi-PEDs: Vertically Stacked ICs
Stacked ICs have a higher circuitry density than traditional PCBs by allowing ICs to be mounted and interconnected on top of each other. EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 60 VER TI C AL L Y S T AC KE D I N TEGR A TED CI RCUI T
Slide 61: Example of Hi-PEDs: RF Antennas & Amplifiers
NANO DIMENSION CAN DO IT Our capability to print UHF & SHF RF signal transmission line and antennas. RF antennas & amplifier applications with up to 6GHz frequency. EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 61 R F AN TEN N A S & AM PL
Slide 62: Example of Hi-PEDs: Functional Capacitors
• Produced simultaneously during the additive manufacturing of PCBs • Reduce the total size of the PCB • Freeing surface area for mounting other PCB components De s ign Actual EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 62 F UNCT I O NA
Slide 63: Example of Hi-PEDs: In-PCB DC-DC Converter Transformer
• The most common DC - DC Up Converters are units mounted on a PCB • By producing the device as an integrated part of the PCB, surface area usage, assembly time, and other overhead costs are reduced. EXAM PL E OF H i - PED s Œ : Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights re
Slide 64: Example of Hi-PEDs: Side Mount/Contact and Inserted Components
• Enables the use of an area not common for PCB components • Enables the creation of customized small PCBs that can be inserted into a socket a) b) Figure 1 X - ray view of a) inserted, and b) side mounted components soldered to vertical contacts manufactured as part of the PCB additive manufacturin
Slide 65: Example of Hi-PEDs: Built-in Power Transformers
AC - AC Up Converter (x10) In Board Power DC – DC Up Voltage Converter AC - AC Transformer with ferrite core EXAM PL E Nasdaq: NNDM I www.nano - di.com | © 2020 Nano Dimension. All rights reserved. 65 OF H i - PED s Œ : B UI L T I N P O W E R T RA NS F O RME R S
Slide 66: Thank You
NASDAQ : NNDM 66 www.nano - di.com | © 2020 Nano Dimension. All rights reserved. Nano Dimension® Copyright © 2020 Nano Dimension Ltd. Nano Dimension, DragonFly, AgCite and the DragonFly logo are trademarks of Nano Dimension. Printed November 2020 DragonFly Ρ THANK YOU NASDAQ: NNDM Follow us: @nanodi
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