Nur Ink Innovations signs a Joint Development Agreement (JDA) with one of the world's largest wide-format substrate manufacturers

Rhea-AI Summary

Nur Ink Innovations Ltd (TASE: NURI) announced a Joint Development Agreement (JDA) with a leading manufacturer in the wide-format digital printing industry. This strategic partnership aims to penetrate a multi-billion-dollar market with a projected double-digit CAGR. The company’s innovative water-based pigment inks were validated through successful proof of concept (POC) testing, demonstrating their ability to create textured prints. The total addressable market for Nur Ink's products is valued at approximately $23 billion, with a CAGR of around 19%.

Positive

• Signed a Joint Development Agreement (JDA) with a major substrate manufacturer.
• Entering a new multi-billion-dollar market with a double-digit CAGR.
• Successful proof of concept (POC) for water-based pigment inks.
• Total addressable market valued at approximately $23 billion with a 19% CAGR.

Negative

• None.

ROSH HA'AYIN, Israel, April 5, 2022 /PRNewswire/ -- Nur Ink Innovations Ltd (TASE: NURI) which engages in research and development of various types of water-based and environmentally friendly pigment inks for diverse digital printing technologies and applications, announces that it has signed a JDA (Joint Development Agreement) with one of the world's largest manufacturers of substrates for the wide-format digital printing industries.

Moshe Nur, Chairman of the Board and CEO of the Company: "This is the start of an extremely significant & strategic move for us as the project includes entering a new multi-billion-dollar market with a double-digit CAGR. I am thrilled with the acceptance of our innovative products and technology – following hard work and a successful POC which demonstrated our water-based pigment inks' ability to print in layers to create a 2.5D structure which is both visible and can be felt by hand. This JDA is with one of the world's largest and leading companies in the field of substrate manufacturing for the wide-format digital printing industries. Following a successful completion of the joint development project Nur Ink will provide the ink to the manufacturer, who, in turn, will promote it as its own branded product as part of a turn-key digital printing system.

About the Company:

Nur Ink Innovations Ltd. was founded by Mr. Moshe Nur 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 the 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.

The Company's business model is based on both OEM and 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%.

Press contact:
Eliav Priel
Email: eliav@nur-ink.com
Mobile: +972 (54) 3277271

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SOURCE Nur Ink Innovations Ltd.

FAQ

What is the significance of Nur Ink's recent JDA announcement?

The JDA allows Nur Ink to enter a multi-billion-dollar market, enhancing its growth potential.

What market is Nur Ink targeting with its new products?

Nur Ink targets the wide-format digital printing market, valued at approximately $23 billion.

What innovative products is Nur Ink developing?

Nur Ink is developing water-based, environmentally friendly pigment inks for various applications.

What is the projected CAGR for Nur Ink's targeted market?

The projected CAGR for Nur Ink's targeted market is around 19%.

How does the proof of concept (POC) impact Nur Ink's business?

The successful POC demonstrates the efficacy of Nur Ink's products, potentially boosting market acceptance.