MAGSHIMIM, Israel, Dec. 2, 2021 /PRNewswire/ -- Nur Ink Innovations Ltd (TASE: NURI) which engages in research and development of various types of water-based, green and environmentally friendly pigment inks, announces that it has received its first ever commercial purchase order from one of the world's leading international digital printer manufacturers for its water-based digital printing pigment ink that was developed by the Company (NurTex).
Moshe Nur, Chairman of the Board and CEO of the Company: "This is a first commercial purchase order for Nur Ink that follows the successful pilot with one of the worlds' leading digital printers manufacturers. This purchase order demonstrates our success and strengthens our position as a company that brings a real "green" revolution to the digital printing industry."
"I am happy that we succeeded to achieve the targets and commitments we presented to our investors and during our IPO earlier this year - targets which include a commercial order before the end of this year."
"This initial purchase order is a strong vote of confidence on our strategic customer's part and will bring our innovative products to our customer's end-users' print production process."
Eliav Priel, the Company's Business Development Manager adds: "This order opens for us a window of opportunity to an international market that today is untouched – including digital printing with water-based pigment inks directly onto dark garments made of 100% polyester fabric. We believe the inks we develop, which comply with the industry's ecological standards will facilitate further implementation and usage of water-based pigment inks and enable us to take advantage of a huge and growing market potential."
About Nur Ink Innovations Ltd:
Nur Ink Innovations Ltd. was founded by Mr. Moshe Nur, and Dr. Muhammad Iraqi 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 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 OEM 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%.
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SOURCE Nur Ink Innovations Ltd.