The Directors of 333D Limited (ASX:T3D) are pleased to announce that they have secured a $1 million debt facility. The funds will be used to bolster the Company’s marketing of its 843 “School” 3d printer and complete its capex funding relating to its 3d print service bureau.
The debt facility is for 24 months with interest only monthly payments. It is secured by the Company’s 3d printing assets and has early payment options.
T3D just last week exhibited at the National Future Schools Expo in Melbourne displaying its working 843 printer to more than 2,500 delegates from across Australia that included school principals, primary and secondary school teachers. The key thematic of the Expo was STEM (Science, Technology, Engineering and Mathematics) and the emphasis that is placed on it by education authorities worldwide. We clearly differentiated our product by offering a turn-key education solution that encompasses:
- Australian made commercial grade 3d printer
- Capability of printing an entire classroom in one print run
- T3D designed lesson plans incorporating STEM
- Comprehensive training and support
We received substantial interest at the expo and are following up with all leads generated. The Company has also received interest for its school printer from two (2) charter schools based in the United States and is currently in discussions with these US schools. Funds from the debt facility will be deployed to further demonstrate and market the 843 printer to schools via on site school demonstrations, exhibitions and increasing our direct selling salesforce. Further information in relation to our education solution is available at www.333d.com.au/edu.
We recently received the Prodways MOVINGLight® high resolution 3D printer, it is particularly well-suited for producing prototypes requiring crisp details and smooth surface, but also end use industrial applications such as dental models or surgical guides, investment casting, injection and blow moulding, thermoforming moulds, shoe sole moulds, and jewelry casting. We are currently in discussions with potential customers that have requirements for shoe sole moulds and fast growing dental market. Loan funds will be used to fully fund this machine.
“We are making exceptional progress with our school printer and printing bureau and the debt funding provides us with financial resources to immediately activate sales leads and our go to market strategy. With domestic and international interest in our school printer, we recognise our unique selling proposition and we endeavour to take advantage of this current window of opportunity.” said T3D Managing Director Frank Pertile.