PLN 2.5m is the amount that XTPL SA will receive under the Lower Silesia Regional Operational Programme for 2014-2020. The funds will be used for developing demo prototypes of the lab printer that will then undergo testing: both in-house and outside the company, i.e. in R&D centres of major corporations and research institutes.
In September, XTPL SA entered the NewConnect market. At present, the issuer is focusing on the commercialization of the solution and the funds raised through the IPO will be allotted for that purpose. Any additional public funding will allow to leverage the capital of market investors and to speed up the product’s time to market.
Right now we are concentrating on the activities that will generate the first revenues for the company. We are setting up a business development department and we will create labs that will explore specific applications of our technology. We will also produce the first batch of lab printers for advanced internal and external testing, says Filip Granek, CEO at XTPL. Thanks to the additional funding from the Regional Operational Programme we can be more effective in using the capital acquired via the public offering.
XTPL applied for the grant at the beginning of March. The total cost of the project was PLN 4.5m, while the awarded EU grant was PLN 2.5m. The funds were granted under the Lower Silesia Regional Operational Programme for 2014-2020, Action 1.2, Innovative Enterprises.