Top 10 Finalists Announced in Stratasys Extreme Redesign Contest
MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)-- Stratasys Ltd. (NAS: SSYS) , a leading manufacturer of 3D printers and production systems for prototyping and manufacturing, today announced the finalists for its ninth annual Extreme Redesign 3D Printing Challenge. The global contest encourages students to submit an innovative product design, a redesign of an existing product, or an original work of art or architecture.
As a new incentive this year, college category finalists will have their designs reviewed for a possible licensing agreement and commercialization by a major manufacturer in partnership with online inventor community, Edison Nation, which operates the hit TV show, Everyday Edisons.
The contest includes the categories of middle school and high school engineering, college engineering, and art & architecture. Besides being contenders for scholarship prize money, the top ten finalists in each of the three categories will receive a 3D printed model of their design. A list of the finalists and their school names can be found at: ER 2013 Finalists.
From the ten finalists in each category, a panel of independent judges from industry will select the winners. This year's judges are Patrick Gannon, RP+M division of Thogus, Todd Grimm, TAGrimm & Associates, and Ian Kovacevich, Enventys. Stratasys will award scholarships in the amount of $2,500 for first place winners and $1,000 for second and third place winners. Instructors of the three first-place student winners will receive a tablet PC for use in the classroom.
Designs are awarded based on creativity, usefulness, part integrity and aesthetics. Each submission is required to be a sound mechanical design; be realistic and achievable; and include a clear written description of the design.
This year's contest also features the award category, "Engineering a Difference," in which students compete for a bonus prize. Students whose designs are aimed at solving a great societal challenge will have a chance to win a $250 gift card.
About Stratasys Ltd.
Stratasys Ltd. (NAS: SSYS) is the corporate entity formed in 2012 by the merger of 3D printing companies Stratasys Inc. and Objet Ltd., based in Minneapolis, Minn. and Rehovot, Israel. The Company manufactures 3D printers and materials for prototyping and production. Its patented FDM® and PolyJet® processes produce prototypes and manufactured goods directly from 3D CAD files or other 3D content. Systems include affordable desktop 3D printers for idea development, a range of systems for prototyping, and large production systems for direct digital manufacturing. Since June 2012, the Company's range of over 130 3D printing materials is the widest in the industry and includes in excess of 120 proprietary inkjet-based photopolymer materials and 10 proprietary FDM-based thermoplastic materials. Stratasys also manufactures Solidscape 3D Printers and operates the RedEye On Demand digital-manufacturing service. The Company has more than 1100 employees, holds more than 500 granted or pending additive manufacturing patents globally, and has received more than 20 awards for its technology and leadership. Online at: www.stratasys.com or http://blog.stratasys.com / www.objet.comor http://blog.objet.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements regarding Stratasys' beliefs, intentions and expectations, including statements regarding the management of Stratasys, Inc. and Objet Ltd. as a combined company, the benefits of the combination of the companies, and the future financial performance of the combined company after their merger, are forward-looking statements. The statements involve risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those projected. Actual results may differ materially due to a number of factors, including the risk and uncertainty that the businesses of the two companies may not be integrated successfully; the risk that the merger may involve unexpected costs or unexpected liabilities; the risk that synergies from the merger may not be fully realized or may take longer to realize than expected; the risk that management's focus on and disruptions arising from the merger make it more difficult to maintain relationships with customers, employees, or suppliers. Stratasys' ability to achieve the results presented in any forward-looking statement will depend on numerous factors, including its ability to penetrate the 3D printing market; its ability to achieve the growth rates experienced in preceding quarters; its ability to introduce, produce and market both existing and new consumable materials, and the market acceptance of these materials; the impact of competitive products and pricing; its timely development of new products and materials and market acceptance of those products and materials; the success of Stratasys' recent R&D initiative to expand the DDM capabilities of its core FDM technology; and the success of Stratasys' RedEye On DemandTM and other paid parts services. These and other applicable factors are discussed in this presentation and in Stratasys' filings with the Securities and Exchange Commission. These filings include the definitive proxy statement/prospectus filed with the SEC on August 8, 2012, as well as the filings that Stratasys, Inc. has made with the SEC and that Stratasys Ltd. has made and will make with the SEC in the future, including its report on Form 20-F to be filed for the year ended 12/31/2012. Any forward-looking statements included in this presentation are as of the date they are given, and Stratasys does not intend to update them if its views later change, except as may be required by law. These forward-looking statements should not be relied upon as representing Stratasys' views as of any date subsequent to the date they are given.
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