Nano Dimension Ltd · NASDAQ:NNDM
Nano Dimension — Investor Presentation (January 2021)
67 slides from Nano Dimension's investor presentation, Jan 25, 2021
Slide 1: 3D-Printed Electronics: Additively Manufactured Electronics (AME)
3D-PRINTED ELECTRONICS ADDITIVELY MANUFACTURED ELECTRONICS (AME) Corporate Presentation I Nasdaq: NNDM I January 25th, 2021 Intelligent Machines, Consumable Conductive & Dielectric Ink Materials 1 NASDAQ : NNDM
Slide 2: Forward Looking Statements
PRINTED ELECTRONICS (PE) / A D D I T I V E LY M A N U F A C T U R E D E L E C T R O N I C S ( A M E ) Forward Looking Statements This presentation of Nano Dimension Ltd. (the “Company”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other
Slide 3: Table of Contents
TA B L E O F C O N T E N T S • Executive Summary • Business Model • Technology • Market • Business in Times of Corona • Strategy & Tactics • Appendix Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved. 3
Slide 4: Nano Dimension Offering
NANO DIMENSION OFFERING AME 3D-PRINTING SYSTEMS NaNoS℠ – 3D FABRICATION SERVICE DRAGONFLY LDM, DRAGONFLY PIK F O R T H E P R O D U C T I O N O F H i - P E D s TM ○ System ○ Co-creation / Design ○ Training and Support ○ Prototyping ○ Leasing Options ○ Low Volume Production Nasdaq: NNDM I www.nano-di.
Slide 5: How Does It Work?
HOW DOES IT WORK? 110 Just one manufacturing step: No need for etching, pressing, electroplating! TWO PRINTHEADS INKJET BOTH THE OBJECT IS BUILT UP, LAYER BY MATERIALS SIMULTANEOUSLY: LAYER, THROUGH FULL STACK THICKNESS: ○ Both conductor & insulator substrates are printed ○ Conductive layers & diele
Slide 6: Example of Hi-PEDs: Vertically Stacked Integrated Circuits
EXAMPLE OF Hi-PEDs™: V E R T I C A L LY S TA C K E D I N T E G R AT E D CIRCUITS (ICS) Stacked ICs have a higher circuitry density than traditional PCBs by allowing ICs to be mounted and interconnected on top of each other. Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved.
Slide 7: Produce Complex PCB and Hi-PEDs
PRODUCE COMPLEX PCB AND Hi-PEDS™ Hi-PEDs™ Fast prototyping, HIGH hours vs weeks AME with WITH Side PERFORMANCE AME Circuit WITH with AME CIRCUIT INTEGRATED IOT Access IOT/WIFI ACCESS POINT AME CIRCUIT SIDEMounted MOUNTED AND Vertically INTEGRATED Stacked VERTICALLY STACKED CIRCUITS ELECTRONIC Capa
Slide 8: Our Mission
OUR MISSION Our DragonFly™ AME Machines (controlled by AI algorithms) produce electronic devices by simultaneous 3D-injection of dielectric and conductive materials to fabricate, within hours: High Performance Electronic Devices: Hi-PEDs™ Sensors, Antennas, Capacitators, Convertors for unique geomet
Slide 9: DragonFly LDM: A Digital Factory in a Box
D R A G O N F LY L D M : A D I G I TA L F A C T O R Y I N A B O X ALL OF THIS … …REPLACED WITH THIS! Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved. 9
Slide 10: Nano Dimension: AME Industry Leader
NANO DIMENSION • 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 devices • Appro
Slide 11: Nano Dimension: Financial Data
N A N O D I M E N S I O N : F I N A N C I A L D ATA NASDAQ Shares Outstanding: NNDM ~207,200,000 * • Revenue growth of ~39% in 2019 ADS ratio: 1:1 compared to previous year ~$80M invested mostly in R&D, over 6 years • Cash: $990M / No debt * *As of January 20th, 2021 • Significant trend of Gross Ma
Slide 12: Business Model: Recurring Revenue Model That Scales
B U S I N E S S M O D E L : R E C U R R I N G R E V E N U E M O D E L T H AT S C A L E S Razor-Razorblade Model: • As the installed base of systems CONSUMABLE REVENUE grows, the recurring revenues GROWTH from consumables increases. • Positive trend of increased ink consumption by customers is a vali
Slide 13: NaNoS Fabrication Services
N A N O D I M E N S I O N ’ S 3 D F A B R I C AT I O N S E R V I C E S : NaNoS ℠ • 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 wit
Slide 14: Fail-Safe Biotech-Like Investment Model
FA I L S A F E “ B I O T E C H - L I K E ” I N V E S T M E N T M O D E L Upside like BioTech, but, contrary to BioTech downside in case of failure at any stage is protected as a sale of the existing business at improving multiples (as per stages I-V below, is a valid and doable financial exit throug
Slide 15: New Manufacturing Possibilities with the DragonFly LDM
N E W M A N U F A C T U R I N G P O S S I B I L I T I E S W I T H T H E D R A G O N F LY L D M High-Performance Electronic Devices™ : Hi-PEDs™ RF AMPLIFIER FOR SPACE PRINTED CAPACITORS ○ Light weight ○ High Accuracy Capacitors ○ Integrated design Integrated in the board ○ < 1db gain difference ○ 50
Slide 16: Vision: Bridging the Gap
VISION: BRIDGING THE GAP DragonFly LDM & Ink Materials AME TECHNOLOGY Design Proof of Concepts Prototype & Early Fabrication of HiPEDs™(High Performance Electronic Devices) TRADITIONAL TRADITIONAL PRINTED INTEGRATED CIRCUITS CIRCUIT BOARDS (PCB) (IC, Chips, CPU, ASICs) Nasdaq: NNDM I www.nano-di
Slide 17: Traditional PCBs: Geography
TRADITIONAL PCBs: GEOGRAPHY 1% Around 90% of all PCBs are 1% 1% 2% • China manufactured in the APAC region. • Vietnam 2% China are the largest producer with • South Korea around 43% market share followed by • Taiwan 5% Japan and South Korea with 15% and 13%, respectively. Singapore 13% Philippines I
Slide 18: Traditional PCBs: Prototyping
TRADITIONAL PCBs: PROTOTYPING Designs 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. PCBs This is slow, costly and puts core intellectual property at risk. Nasdaq: NNDM I www.nano-di.com | © 2020 Nano
Slide 19: Return on Investment: Prototyping
R E T U R N O N I N V E S T M E N T: P R O T O T Y P I N G WEEKS Proof of Concept (PoC) & DESIGN ECAD TESTING TOOLING PRODUCTION PROTOTYPING ○ Accelerate Product Development and reduce Time-To-Market (TTM) ○ In-House Rapid Prototyping with Nano Dimension AME Systems PoC & DESIGN ECAD PROTO- TESTING
Slide 20: Return on Investment: Production
R E T U R N O N I N V E S T M E N T: P R O D U C T I O N MONTHS Proof of Concept (PoC) & DESIGN ECAD TESTING TOOLING PRODUCTION PROTOTYPING ○ Eliminate need for tooling ○ Consolidate Assembly Steps ○ Low Mix / High Volume Production with Nano Dimension AME System PoC &PROTO- DESIGN ECAD TESTING PROD
Slide 21: AME / 3D Printed Electronics Market
AME / 3D PRINTED ELECTRONICS MARKET IDTechEX (2019) • The total market for 3D printed electronics will be worth $2.3 billion $M 3D PRINTED ELECTRONICS MARKET by 2029 and will be dominated by the professional PCB prototyping 4500 market segment. The educational and industrial production market segmen
Slide 22: Present Investment Thesis: New Plan for 2021-22
PRESENT INVESTMENT THESIS IS NEW PLAN FOR 2021-22: RIDING THE ELEPHANT “Fail-safe-BioTech Investment Model” – Stages I>>II>>III>>IV>>V Since Covid-19 eruption – it is not about quarterly Revenue curve. We are focused on upside through accelerating Product Technological Edge (Upside like Biotech) BUT
Slide 23: Corona Is Affecting Businesses in 2020
THERE IS AN ELEPHANT IN THE ROOM CORONA IS AFFECTING BUSINESSES IN 2020 W O R K I N G A S S U M P T I O N : AT L E A S T U N T I L Q 3 / 2 0 2 1 All present customers were out-of-office until July 2020. Some until now. (Mostly USA) • Chinese companies returned on 5/2020 but still delaying all purcha
Slide 24: New Plan for 2021: Riding the Elephant
PRESENT INVESTMENT THESIS IS NEW PLAN FOR 2021: RIDING THE ELEPHANT • Started a Prototyping/Fabrication Services Business: NaNoS (Nano Services) • Expand NaNoS as revenue generator, but mainly as a route for DragonFly purchases once CapEx are released post Corona • M&A search directed at targets tha
Slide 25: Nano Dimension Customers
N A N O D I M E N S I O N : A P P R O X . 6 0 S Y S T E M S G L O B A L LY Nano Dimension Customers: • 3 Multi-billion US$ defense manufacturers • 2 European defense companies and multiple secret services • 1 Multi-billion US$ valued technology conglomerate • Multiple leading research institutions a
Slide 26: Hi-PEDs: Additive Manufacturing of Electronics
A D D I T I V E M A N U FA C T U R I N G O F 3 D E L E C T R O N I C S High Performance Electronic Devices™: Hi-PEDs™ Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved. 26
Slide 27: Certifications
C E R T I F I C AT I O N S In-house DragonFly system In-house nano ink manufacturing Top quality certified manufacturing – ISO14001 and OHSAS18001 FCC, CE, UL, CSA, EAC capacity to meet future demand ISO 45001 and RoHS Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved. 27
Slide 28: Why Additive Manufacturing for Electronics?
W H Y A D D I T I V E M A N U FA C T U R I N G F O R E L E C T R O N I C S ? ADVANCED PRODUCTS: RAPID PROTOTYPING DIGITAL INVENTORY HiPED FABRICATION Benefits: Shorten your Time-to- Benefits: Produce better, lighter, Benefits: The future will allow Market, reduce cost and increase cost-effective pro
Slide 29: Our Customers Are Innovators in Leading Markets
O U R C U S T O M E R S A R E I N N O VAT O R S I N L E A D I N G M A R K E T S AUTOMOTIVE & RESEARCH AEROSPACE DEFENSE MEDICAL INDUSTRIAL The DragonFly LDM AME Technology Keep your IP in your lab Reduce time to market AME optimizes System enables you to enables you to reduce with the DragonFly LDM
Slide 30: Case Studies & Cooperation
N A N O D I M E N S I O N : C A S E S T U D I E S & C O O P E R AT I 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. 30
Slide 31: Customer Case I: CBN-IIT, Italy
C U S T O M E R C A S E I : C B N - I I T, I TA LY 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 performa
Slide 32: Cooperation Case II: Harris, USA
C O O P E R AT I O N C A S E I I : H A R R I S , U S A 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
Slide 33: Customer Case III: Hensoldt, Germany
C U S T O M E R C A S E I I I : H E N S O L D T, G E R M A N Y Military sensor solutions require performance and reliability levels far above those of commercial HENSOLDT and Nano components. To have Dimension Achieve high-density components Breakthrough in quickly available with Electronics 3D Prin
Slide 34: Customer Case IV: Piezoskin, Italy
C U S T O M E R C A S E I V : P I E Z O S K I N , I TA LY 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
Slide 35: Customer Case V: Rehau, Germany
CUSTOMER CASE V: REHAU, GERMANY With the DragonFly LDM Smartification is no longer we will drive forward just a vision for us. REHAU’s “Electronics into REHAU is developing Polymers” strategy to improved products for the speed up in-house smart home and IoT electronics development environment, and N
Slide 36: Fail-Safe Biotech-Like Investment Model
FA I L S A F E “ B I O T E C H - L I K E ” I N V E S T M E N T M O D E L Since Covid-19’s eruption – it is not about quarterly Revenue curve. We are focused on upside through accelerating Product Technological Edges (Upside like Biotech). BUT we have sold approx. 60 machines already. Contrary to Bio
Slide 37: Nano Dimension Evolution
NANO DIMENSION EVOLUTION • 24/7 Print in a Compact System DragonFly™ LDM “The Secret Sauce” Competitive Edge & Barriers to • Integrated AI Software Entry Functional Unique Electronics DragonFly™ Pro Materials & Process DragonFly Early Adopters: Fast Prototyping & Low Volume Industrial: Production Q3
Slide 38: Why Additive Manufacturing for Electronics?
W H Y A D D I T I V E M A N U FA C T U R I N G F O R E L E C T R O N I C S ? Approx. 60 3D-Printing DragonFly Machines were sold to leading blue-chip defense, research commercial & government organizations ACCELERATE PROTECT time to market IP INCREASE IMPROVE design possibilities efficiency Nasdaq:
Slide 39: Nano Dimension: Revenue Drivers
NANO DIMENSION: REVENUE DRIVERS Emerging Technologies Hi-PEDs™ Necessitate • Communication 5G/RF • Fast time-to-market • IP safety in-house rapid prototyping and production • Heterogeneous Integrations • Interactive development • Aerospace (i.e. micro-satelites) • Device performance gains • Defens
Slide 40: Post Corona World: Moving Supply Chain In-House
P O S T C O R O N A W O R L D : M O V I N G S U P P LY C H A I N ‘ I N H O U S E ’ “Even as China comes back online, we are beginning to wonder if Covid-19 will impact other supply-oriented geographies… …While China is improving, the supply chain for the electronics industry may yet see substantial
Slide 41: Post Corona World: Moving Supply Chain In-House
P O S T C O R O N A W O R L D : M O V I N G S U P P LY C H A I N ‘ I N H O U S E ’ • "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 administr
Slide 42: Post Corona World: Moving Supply Chain In-House
P O S T C O R O N A W O R L D : M O V I N G S U P P LY C H A I N ‘ I N H O U S E ’ 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 expo
Slide 43: NaNoS Fabrication Services
N A N O D I M E N S I O N ’ S 3 D F A B R I C AT I O N S E R V I C E S : NaNoS ℠ • 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 wit
Slide 44: New Corporate and US Management
N A N O D I M E N S I O N : N E W C O R P O R AT E A N D U S M A N A G E M E N T • 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, Singapor
Slide 45: New Corporate and US Management
N A N O D I M E N S I O N : N E W C O R P O R AT E A N D U S M A N A G E M E N T • 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
Slide 46: AME / 3D Printed Electronics Market
AME / 3D PRINTED ELECTRONICS MARKET IDTechEX (2019) • The total market for 3D printed electronics will be worth $2.3 billion by The global flexible circuit industry recorded 2029 and will be dominated by the professional PCB prototyping market segment. The educational and industrial production marke
Slide 47: Key Highlights
KEY HIGHLIGHTS: 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™ in ho
Slide 48: Appendix: Additive Manufacturing for Electronics
Appendix Additive Manufacturing for Electronics 48 NASDAQ : NNDM
Slide 49: Traditional PCBs: History
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
Slide 50: Traditional PCBs: Mounting Components
TRADITIONAL PCBs: MOUNTING COMPONENTS Through-Hole Electronics Surface Mount Electronics 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
Slide 51: Nano Dimension: PCB vs AME
NANO DIMENSION: PCB VS AME • 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 one side of Do
Slide 52: Traditional PCBs: Layers
T R A D I T I O N A L P C B s : L AY E R S World PCB production by type 5% 16% Single sided 2-6 layers 8-16 layers 15% 37% 18+ layers Microvia Substrate Flex & R-Flex 12% Many PCB designs, particularly analog or high- frequency digital circuits, employ a ground Source: TTMTechnologies 13% plane. Thi
Slide 53: Traditional PCBs: Layers
T R A D I T I O N A L P C B s : L AY E R S 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
Slide 54: Traditional PCBs: Mechanics
TRADITIONAL PCBs: MECHANICS The physical strength of fiberglass board makes it possible to use a traditional PCB as a mechanical component in a device as well as an electrical one. This is a crude form of structural electronics. Rigid PCBs can be connected together The CrazyFlie quadcopter using fle
Slide 55: Traditional PCBs: Heat
T R A D I T I O N A L P C B s : H E AT 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
Slide 56: Traditional PCBs: SWOT Analysis
T R A D I T I O N A L P C B s : S W O T A N A LY S I S Strengths Weaknesses • Established technology: ~$60bn industry. • Either expensive to prototype locally or slow to prototype • Physically strong. remotely (7 to 21 day turnaround from China). • High electrical conductivity (σ =5.96×107S/m) from
Slide 57: AME Hi-PEDs: Additive Manufacturing of Electronics
A D D I T I V E M A N U FA C T U R I N G O F 3 D E L E C T R O N I C S Electronics integration (MEMS, Real 3D Embedded Electronics for Sensors, Transistors, ICs, Opto, Piezo, Heterogenous Integration Chem-Electro, Magnetics, Motion) 3D Printed Electronics Components AME Hi-PEDs™ Multi Stacking ICs,
Slide 58: 3D-Printed Hi-PEDs
3D-Printed Hi-PEDs™ NASDAQ : NNDM 58 Nano Dimension® Confidential and Proprietary
Slide 59: Nano Dimension: 3D-Printed Hi-PEDs
NANO DIMENSION: 3D-PRINTED Hi-PEDs™ Example of Hi-PEDs™ : • 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 CONVERTER TRANSFORMER • SIDE MOUNT/CONTACT AND INSERTED CO
Slide 60: Example of Hi-PEDs: Low Pass Filter
EXAMPLE OF Hi-PEDs™: L O W PA S S F I LT E R ( L P F ) 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 AME layer or on different layers in the AME board With Commercial Capacitors -30dB X-ray
Slide 61: Example of Hi-PEDs: RF Antennas & Amplifiers up to 6GHz
EXAMPLE OF Hi-PEDs™: RF ANTENNAS & AMPLIFIERS UP TO 6GHZ 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. Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved. 6
Slide 62: Example of Hi-PEDs: Functional Capacitors
EXAMPLE OF Hi-PEDs™: F U N C T I O N A L C A PA C I T O R S B Y A D D I T I V E M A N U FA C T U R I N G • Produced simultaneously during the additive manufacturing of PCBs • Reduce the total size of the PCB • Freeing surface area for mounting other PCB components Design Actual Nasdaq: NNDM I www.na
Slide 63: Example of Hi-PEDs: In PCB Planar DC-DC Up Converter Transformer
EXAMPLE OF Hi-PEDs™: IN PCB PLANAR DC-DC UP 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. Nasdaq: NNDM I www.nano-di.com | © 2
Slide 64: Example of Hi-PEDs: Side Mount/Contact and Inserted Components
EXAMPLE OF Hi-PEDs™: S I D E M O U N T / C O N TA C T A N D 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 solde
Slide 65: Example of Hi-PEDs: Built-in Power Transformers
EXAMPLE OF Hi-PEDs™: B U I LT I N P O W E R T R A N S F O R M E R S In Board Power DC–DC Up AC-AC Voltage Converter AC-AC Up Transformer with Converter (x10) ferrite core Nasdaq: NNDM I www.nano-di.com | © 2020 Nano Dimension. All rights reserved. 65
Slide 66: Nano Dimension: Leading the AME Revolution
NANO DIMENSION: LEADING THE AME REVOLUTION Additive Manufacturing (Metal & Polymers) Additive Manufacturing of Electronics (AME) $12,000 $10,000 $8,000 24% CAGR $6,000 24% CAGR $4,000 $2,000 $0 18 20 22 24 26 28 30 32 34 36 Market Growth – Additive Manufacturing Market Growth – Additive Manufacturin
Slide 67: Thank You
THANK YOU NASDAQ: NNDM Follow us: @nanodimensiontech @3Dpcb www.nano-di.com 67Copyright © 2021 Nano Dimension Ltd. Nano Dimension, DragonFly, AgCite and the DragonFly logo are trademarks of Nano Dimension.www.nano-di.com NASDAQ : NNDM Nano Dimension® Printed January 2021 | © 2020 Nano DragonFly™ Dim
Nano Dimension — Investor Presentation (January 2021) on 6ix