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What is a voxel?

A volumetric (3D) pixel.

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What does voxeljet do?

We are a leading provider of high‑speed, large‑format 3D printers and on‑demand parts services to industrial and commercial customers. Our 3D printers employ a powder binding, additive manufacturing technology (Binder Jetting) to produce parts using various material sets, which consist of particulate materials and proprietary chemical binding agents. We offer our customers the highest volumetric output rate in the industry due to the combination of our large build boxes and print speeds. We provide our 3D printers and on‑demand parts services to customers in the automotive, heavy equipment, power fluid handling, aerospace and space exploration, art and architecture and consumer product end markets.

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What is your unique selling proposition?

We have several competitive advantages, including the size of our build platforms, our printing speeds, the volumetric output rate of our 3D printers and the variety of qualified material sets that we offer to commercial and industrial customers.

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When was the company founded?

voxeljet's roots reach back to the year 1995 with the first successful dosing of UV-resins. In the context of a "hidden" project, initial 3D-printing tests are performed at the Technical University of Munich. In 1996, the project participates in the 1st Munich Business plan contest and in 1998 the first patent is granted. The first sand molds are printed at the University in 1998. Our company was founded on May 5, 1999 with the goal of developing new generative processes for the production of casting and plastics components using 3D printing. In the beginning, operations are launched with four employees at the Technical University of Munich. Shortly afterwards the headquarters in Augsburg are established. Dr. Ingo Ederer, who co-founded the company is our CEO. Management and supervisory board together hold roughly twenty percent of shares outstanding.

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How many people do you employ?

At the end of 2020, we had 251 employees globally; 1 CEO, 1 COO/CFO, 3 MDs, 47 in R&D, 70 in Systems, 42 in Services, 38 in Sales and Marketing, 49 in Admin & Finance

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How does the voxeljet binder jet process work?

Our printers build parts from digital designs produced using 3D CAD software by successively depositing thin layers of particulate materials. A printhead passes over each layer and deposits a chemical binding agent or an ink in the selected areas where the finished product will be created.

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How does the voxeljet High Speed Sintering process work?

High Speed Sintering (HSS) is a combination of Selective Laser Sintering (SLS) and Binder Jetting. Parts are built by thermally fusing (or sintering) polymer powder particles layer-by-layer. The materials used are thermoplastic polymers like Nylon, Polyurethane or Polypropylene that come in a granular form. The main difference between HSS and SLS is the heat source. SLS uses a laser to scan and sinter each cross-section, while in HSS an ink is dispensed on the powder that promotes the absorption of infrared light. An infrared energy source then passes over the building platform and fuses the inked areas (link to video explaining HSS technology). In November 2019, voxeljet presented its new HSS printer for serious production (prototype version; link to demo mode as filmed at exhibition).

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What is your business model?

Our business is divided into two principal segments: Systems and Services. In our Systems segment, we focus on the sale, after-sale, production and development of 3D printers. In our Services segment, we print on‑demand parts for our customers. We operate service centers in Germany, the United States and China. At our service centers, we create parts, molds, cores and models based on designs produced using 3D computer‑aided design, or CAD, software. We believe our service center in Germany to be one of the largest additive manufacturing service centers in Europe. Due to the size of the printers’ build boxes, specifically the VX4000 printer, we are able to print more parts simultaneously on one printer than anyone else in the industry, resulting in cost‑effective and quick turnaround times for our customers’ print jobs and increased revenue and profitability for us.

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Who are your customers?

We are in the market for industrial part production utilizing additive manufacturing and are one of the few providers of additive manufacturing solutions to industrial customers, including the foundry, automotive, heavy equipment, power fluid handling, aerospace industries and consumer goods like sports equipment. We believe we have a reputation for providing high‑quality systems and services in the marketplace with strong relationships with a number of leading multinational customers, including Daimler AG, BMW AG, Volkswagen AG, Porsche SE, Ford Motor Company, Nike, Ricoh and leading aerospace and space exploration companies.

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How do you sell your products?

We sell our 3D printers and related consumables both through our direct sales force and with the assistance of our network of more than 20 third-party sales agents globally. Our sales organization, including our dedicated sales, service and application engineers, is responsible for worldwide sales of our 3D printers and on‑demand parts services, as well as for the management and coordination of our growing sales agent network. Our direct sales force focuses primarily on customers in Europe, North America and Asia Pacific, while our sales agents are responsible for facilitating sales in other areas of the world where we do not operate directly.

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What is your growth strategy?

Our business strategy focuses on (i) growing our Services segment in order to print more parts for our existing customers and gain new customers in Europe, Asia Pacific and Americas and (ii) using our knowledge and market position to increase sales of our 3D printers. Our growth strategy is also dependent in part on continuing our investment in research and development activities, which should enable us to meet the needs of our target customers through the development of new material sets and 3D printers with faster print speeds.

At the end of 2018, we first commercialized a new high-speed 3D printer (VJET X), which has a layering speed of less than five seconds. VJET X is 10x faster than previous 3D printers and believed to be the most powerful system currently available. The first customer for this new 3D printer is a premium German car maker (link to a video showing VJET X in action).

In November 2019, we presented a prototype of a new, large High Speed Sintering printer for series production of functional plastic components. We are currently setting up a beta program for this new 3D printer.(link to demo mode as filmed at exhibition).

We intend to develop our customer base internationally, so that our revenues are not dependent on sales to any one region. We also seek to grow both our Systems and Services segments so that we are not overly reliant on either segment. We believe that this strategy will help to offset some of the variability in the Systems segment, which can be more susceptible to macroeconomic trends.

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Do you ship worldwide?

Yes. voxeljet operates facilities on three contintents and ships worldwide.

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How many parts do you print per year (average) in your Services segment?

It can be more than 100,000 parts.

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Can more than one part be printed simultanesously?

Yes. The software will allow for as many parts as can fit within the build box, and each can be different or fully customized. This maximizes time and minimizes waste. It takes as long to print one part as it does to print multiple parts in the build box.

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How many 3D printers do you offer and how big are they?

We currently offer multiple different, large-scale 3D printer platforms, with build boxes that range from 300 × 200 × 150 millimeters to 4,000 × 2,000 × 1,000 millimeters and various print speeds, which produce volumetric output rates ranging from 0.4 liters per hour to more than 140 liters per hour.

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How important is R&D?

We have an ongoing research and development program to develop new 3D printers and material sets and to improve and expand the capabilities of our existing 3D printers and related material sets. As of December 31, 2019, our patent portfolio consisted of more than 420 patents and patent applications and we had various active research and development projects in different stages of completion.

For example, at the end of 2018, we have first commercialized a new high-speed 3D printer for series production: VJET X. It is 10x faster than previous models and, through partners, integrated into fully automated handling systems. The first customer is a premium German car maker. This printer was presented to the public for the first time in June 2019.

At the end of 2019, we have presented a prototype version of a new and large production printer for High Speed Sintering for the first time to the public. We are currently setting up a beta program for this new 3D printer.

All research and development costs are charged to expense as incurred, as the criteria set forth in IAS 38 for capitalizing such costs have not yet been met. Our development efforts are augmented by development arrangements with research institutions, customers and suppliers of material and hardware, among others.

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What is your IP strategy?

In total, as of December 31, 2020 our patent portfolio consisted of over 420 patents and patent applications. Our currently issued patents will expire at different times in the future, with the earliest expiring in 2021 and the latest expiring in 2036. Our currently pending applications will generally remain in effect for 20 years from the date of the initial applications. These patent assets are complemented by our marketing, business development and applications know‑how and our ongoing research and development efforts.

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What exchange does voxeljet trade on?

voxeljet stock is traded on NASDAQ under the ticker symbol VJET.

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Who are your major shareholders?

The following table sets forth information, as of March 1, 2021, regarding the beneficial ownership of our ordinary shares.

table shareholders
  1. This number includes the 23,346 ADSs acquired by each of Dr. Ingo Ederer and Franz Industriebeteiligungen AG through the October 2018 offering which have not been converted to ordinary shares. The 23,346 ADSs are reported in this table on an as converted basis into 23,346 ordinary shares using the one-to-one conversion ratio. This number also includes 69,750 ordinary shares, that may be acquired by each of Dr. Ingo Ederer and Rudolf Franz, underlying the CEO Options and CFO Options, respectively, that vest on April 7, 2021. The percentage of ownership by Dr. Ingo Ederer and Rudolf Franz are based on 5,970,334 shares outstanding as of March 1, 2021, including shares underlying the CEO Options and CFO Options, as applicable.
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