DGAP-News: Nur Ink Innovations
Nur will provide the customer with water-based environmentally friendly pigment inks for installation in industrial grade digital printers it manufactures. The customer is a Japanese public corporation.
Nur Ink Innovations Ltd (TASE: NURI). which engages in research and development of various types of water-based, green and environmentally friendly pigment inks, announces that it has contracted with one of the world's leading international digital printer manufacturers for strategic collaboration and technological development of water-based digital printing pigment ink that was developed by the Company (NurTex).
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.
About the Company:
Nur Ink Innovations Ltd. was founded by Mr. Moshe Nur, and Dr. Muhammad Iraqi and is engaged in research and development of various types of unique & innovative water-based, green, and environmentally friendly pigment inks.
The pigment inks developed by the Company are intended for use in several applications, technologies & markets and may be applied in inkjet digital printing technology directly on to various types of textiles, including pre-dyed dark synthetic fabrics: wide-format digital Inkjet printing of wallpapers, billboards, posters, advertising banners, etc. In addition, the Company is developing the SoftJet product - a jettable pre-treatment substance for preparation and softening of fabrics before digital printing - a product that contributes to savings of approx. 35% in power consumption and approx. 40 liters of water consumed in the softening stage per square meter of printed fabric. All types of inks developed by the Company are environmentally friendly and do not contain toxic substances.
At present, around 20% of the water pollution in industrial use originates from application treatment of textiles. In recent years, the global textile market has seen a toughening of regulatory restrictions and tighter supervision by commercial supervision entities, in terms of the manufacturing methods and types of chemical compounds which may be used in application treatments of textiles. These restrictions, and the toughening of the restrictions in the foreseeable future, will require brands and manufacturers to change their production processes and apply environmentally friendly technologies of the type developed by the Company.
In addition to the direct ecological advantage of using environmentally friendly technologies in this industry, end-customers enjoy a clear economic advantage, resulting from the savings on power costs relative to conventional printing, as a result of the elimination of, or lesser use of power- and water-consuming equipment and devices in the treatment of printed fabrics.
The Company's business model is based on OEM White Label, with the Company's products being offered to companies manufacturing digital printers, which will sell the Company's products as their own.
As of today, the aggregate value of the markets targeted by Nur Ink Innovations is around $23 billion with a CAGR (Compound Annual Growth Rate) of around 19%.
Nur Ink Innovations has an experienced management team which has brought market-leading companies to exits and IPOs. Mr. Moshe Nur has 45 years of experience in advertising and digital print technologies, and is a co-founder of NUR Macroprinters, which developed the world's first super wide-format digital printer, and the world's first Inkjet pigment ink for digital printing of outdoor advertising applications. NUR Macroprinters was floated on NASDAQ in 1994 and acquired by HP in 2005. Mr. Nur was also a co-founder of Kornit Digital, which was also floated on NASDAQ and is now traded with a market cap of $5.5 billion.
Dr. Muhammad Iraqi leads an experienced team of scientists and has significant experience in the development of digital Inkjet inks, including the development of types of digital ink for NUR Macroprinters, HP-Indigo, Kornit Digital, and more. Dr. Muhammad Iraqi has published over 20 patents relating to digital ink and digital print technology.Contact Details
Nur Ink Innovations
News Source: News Direct
22.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Nur Ink Innovations|
|EQS News ID:||1221036|
|End of News||DGAP News Service|