MINNEAPOLIS--(BUSINESS WIRE)--Please replace the caption for release dated March 5, 2013 with the accompanying corrected caption.
The release reads:
AT REDEYE ON DEMAND, 3D PRINTED CARS EDGE CLOSER TO PRODUCTION
Road-ready URBEE 2 will set new precedent for building fuel-efficient vehicles
RedEye On Demand, a rapid prototyping and direct digital manufacturing service, and its parent company Stratasys, Ltd. (NASDAQ: SSYS) today announce a collaboration with KOR EcoLogic to produce URBEE 2, the first road-ready, fuel-efficient car built using 3D printing, or additive manufacturing, technologies. Targeted to hit the road in two years, URBEE 2 represents a significant milestone in the world of traditional assembly-line manufacturing.
“A future where 3D printers build cars may not be far off after all,” said Jim Bartel, Stratasys vice president of RedEye On Demand. “Jim Kor and his team at KOR EcoLogic had a vision for a more fuel-efficient car that would change how the world approaches manufacturing and today we’re achieving it. URBEE 2 shows the manufacturing world that anything really is possible. There are few design challenges additive manufacturing capabilities can’t solve.”
The KOR EcoLogic team will fully design URBEE 2 in CAD files, sending them to RedEye On Demand for building through Stratasys’ Fused Deposition Modeling (FDM) process. This unique process applies thermoplastics in layers from the bottom up, yielding parts that are durable, precise and repeatable. The finished two-passenger vehicle will comprise 40 large, intricate 3D-printed parts compared to hundreds of parts in the average car. The strong, lightweight vehicle will be designed to go 70 mph on the freeway, using a biofuel like 100 percent ethanol. The goal is for URBEE 2 to drive from San Francisco to New York City on only 10 gallons of fuel, setting a new world record.
“As a mechanical engineer, I’ve always believed we could use technology to help us solve some of society’s greatest challenges, like minimizing our dependence on oil and reducing ozone emissions. How cool is it that American manufacturing can evolve to tackle these challenges head-on? Our team is excited to launch URBEE 2, putting a next-generation vehicle on the road that will eventually be sold to the public,” said Jim Kor, president and senior designer for Winnipeg-based KOR EcoLogic.
URBEE 2, which stands for urban electric, follows in the tracks of its conceptual predecessor, Urbee 1. Produced in 2011 as a partnership between KOR EcoLogic, Stratasys and RedEye On Demand, Urbee 1 proved that 3D printing could in fact produce large, strong parts that meet accurate specifications of a car body. URBEE 2 will take the basic concepts of Urbee 1 to a higher level, including features like a fully functioning heater, windshield wipers and mirrors.
“With the Urbee 1 project, I learned that product design is nearly unencumbered by considerations on how parts can be made with digital manufacturing. That liberation is incredibly powerful and holds a lot of potential for the future of manufacturing,” said Kor.
For more about RedEye On Demand’s services and applications:
- See how FDM Works (Watch a Part Print with FDM Technology)
- Case Study: RedEye On Demand Defines Museum-Quality 3D Printing in Creating a Historical Replica for the Smithsonian
- Case Study: ICON Aircraft Uses RedEye On Demand’s Rapid Prototyping Services to Create Plane’s Air Ducting Parts
- Video Tour of the RedEye On Demand Facility and Systems at Work
RedEye On Demand, by Stratasys, makes prototyping and the production of low-volume, complex parts fast and easy. RedEye assists engineers in all phases of product development from conceptual modeling to the production of end-use parts. As the leader in on-demand, 3D printing services and powered by the innovation of Stratasys, product developers rely on RedEye for the breadth and reach of its manufacturing technologies. These technologies include Fused Deposition Modeling (FDM), PolyJet, cast urethane molding and injection molding. RedEye’s global distributive manufacturing network includes more than 140 additive manufacturing systems worldwide. Through its vast network, RedEye is able to streamline and expedite the development time for parts, reducing costs and time to market. Online at RedEyeOnDemand.com
Stratasys Ltd. (Nasdaq: 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.com or http://blog.objet.com.
Stratasys, FDM and RedEye On Demand are registered trademarks of Stratasys Ltd.
Cautionary Statement Regarding Forward-Looking Statements
Certain information included or incorporated by reference in this press may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are often characterized by the use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “estimate,” “continue,” “believe,” “should,” “intend,” “project” or other similar words, but are not the only way these statements are identified. These forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans and strategies, statements that contain projections of results of operations or of financial condition and all statements (other than statements of historical facts) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the Company’s ability to efficiently and successfully integrate the operations of Stratasys, Inc. and Objet Ltd. after their merger; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in the Company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; litigation and regulatory proceedings; and those factors referred to under “Risk Factors”, “Information on the Company”, “Operating and Financial Review and Prospects”, and generally in the Company’s annual report for 2012 to be filed on Form 20-F and in other reports that the Company files with the U.S. Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made in the Company’s SEC reports, which are designed to advise interested parties of the risks and factors that may affect its business, financial condition, results of operations and prospects. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.