XTPL files prospect with the KNF. Wiesław Rozłucki appointed Chairman of the company’s supervisory board.

Three quarters ago, XTPL S.A. debuted on New Connect. Now the company is entering the final period before moving the main trading floor of the Warsaw Stock Exchange as it has just filed the prospect with the Polish Financial Supervision Authority (KNF). XTPL is actively supported by the former CEO and co-founder of the Warsaw Stock Exchange Wiesław Rozłucki, who is a newly elected chairman of the company’s supervisory board.

With its ground-breaking technology for printing nanomaterials, XTPL S.A. is moving in great steps towards the first day of listing on the Warsaw Stock Exchange. The company is moving to the “big stock exchange” at quite a speed, given the fact that in September 2017 it debuted on the New Connect market. Now the company can boast not only capitalization amounting to PLN 120 million, but also rapid progress towards commercialization of its nanoprinting solutions.

– Our technology is raising growing interest. We have many inquiries from potential business partners, especially from the Silicon Valley. We are realizing many projects based on verifying the parameters of our technology vs specifications from the market. We are currently in the fastest development phase, and this is strongly driving us forwardsaid Maciej Adamczyk, member of the Management Board and COO at XTPL.

Already in 2018, XTPL will be even closer to investors from behind the western border (now its shareholder structure includes two German investment funds). Following its debut on the Warsaw Stock Exchange, the company is to establish a secondary listing on the Open Market (Freiverkehr) operated by Deutsche Börse. International markets are a natural direction for XTPL to follow, also in the context of technology commercialization.

Due to the platform character of XTPL’s nanoprinting solutions they may be implemented in many fast developing industries. We keep verifying further potential application areas for our technology – Maciej Adamczyk explains.

In addition to the market of displays or solar cells, XTPL is targeting such market segments as biosensors, anti-counterfeiting solutions and microelectronics. The value of the printed electronics market alone, which is one of the main application areas for XTPL’s technology, was estimated at over USD 29 billion in 2017. In 2027, this figure is expected to exceed USD 73 billion.

In its hottest period of growth, XTPL bets on experience and transparency. Already today, the company has experts who contribute know-how gained in mature organizations, including those from the financial market. As part of continuation of this strategy, Wiesław Rozłucki, PhD, joined the company’s supervisory board. The former long-standing president of the Warsaw Stock Exchange has just been appointed supervisory board chairman.

XTPL is no longer a start-up, but a company which is confidently and quickly building its identity in the world of serious business. I’ll be actively supporting the company on its way to become a synonym of new quality for investors, not only on the Warsaw Stock Exchange. I believe that at such an innovative company you can introduce the best of corporate experience from large companies. And this would be without any harm to the growth momentum and freshness of XTPL”, Wiesław Rozłucki emphasises.

Wiesław Rozłucki joins XTPLs Supervisory Board

Wiesław Rozłucki XTPL

The former president and co-founder of Giełda Papierów Wartościowych (the Warsaw Stock Exchange) has been appointed to XTPL SA’s Supervisory Board. He will actively support the Company’s capital market activities and its general corporate governance.

– Why the decision to join such a young, emerging company? It’s because such innovative tech companies are exactly what is needed to secure the future and continued success of the Warsaw Stock Exchange. I’m impressed by the fact that the present-day Polish tech industry refuses to consider itself a second-rate player, and is boldly aiming directly for the global markets. Of course, endeavours of XTPL’s calibre do have intrinsic risks and numerous challenges, which are to be expected when dealing with breakthrough innovations. Nevertheless, what I see in XTPL is a fresh new quality, with experienced managers who understand well the international interactions between business and science – that’s how Wiesław Rozłucki explained his decision to join XTPL’s ranks.

International markets are the natural goal of the Company. Due to the platform-like nature of XTPL’s nanoprinting solutions, they can be implemented in many rapidly developing industries. The Company is continuously verifying new areas of application for its technology. In addition to the display or photovoltaic cell markets, it can be implemented in areas such as biosensors, anti-counterfeiting solutions, and microelectronics. The value of the printed electronics market alone in 2017 – which is one of the main application areas for XTPL’s technology – has been estimated at USD 29.3bn. In 2027, it is expected to reach USD 73.4bn.

With his knowledge and experience, Wiesław Rozłucki will definitely support XTPL in quickly expanding our competences in the field of capital markets and general corporate governance. Our solutions are set to revolutionize the global industry. That is why we have long ceased thinking of ourselves as a start-up. We are heading for the global market and are currently entering the apex of our growth – emphasizes Filip Granek, President of XTPL.

The former President of the Warsaw Stock Exchange views his role in XTPL in a similar light, especially since the Company is on its way to become listed on the main market of WSE, while also preparing for a dual listing on the stock exchange in Frankfurt.

My role is to actively support the Company – for example, to help further professionalize its structures and introduce a certain corporate flair – the good kind. The case of XTPL rings familiar with me, since I first began developing the Warsaw Stock Exchange at a stage when it was a less mature entity than XTPL is now Wiesław Rozłucki points out.

Dr Wiesław Rozłucki was the President of the Management Board of the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.) from 1991 to 2006. He currently works as an independent consultant, while also serving as the chairman of the supervisory boards of Bank BPH S.A. and Internet Media Services S.A., and a member of the supervisory boards of Orange Polska and Towarzystwo Ubezpieczeń na Życie Cardif Polska S.A. He is also the President of the Management Board of the Foundation of the Polish Institute of Directors (Fundacja Polski Instytut Dyrektorów), as well as the Programme Board of Harvard Business Review Polska. He was awarded the Order of Polonia Restituta Third Class (the Commander’s Cross) and the French order of merit, the L’Ordre National du Merite. He will replace Piotr Janczewski as Member of XTPL’s Supervisory Board.


Letter to Shareholders of XTPL

Dear Shareholders,

“Ever since the dawn of the smartphone age, back when we started making serious money, everyone has been asking me how we have managed to build a 32-billion-dollar company on nothing but designing processors – without going into manufacturing and without a recognizable brand. To that, I have one answer: it’s because of the homework we had been doing beforehand, in the isolation of our laboratories and in the offices of plant managers” – these are the words of Mike Muller, one of the founders of the British ARM Holdings and the creator of groundbreaking processor manufacturing solutions that outpaces the competition. Today, ARM technology is purchased by the top players in the industry: Apple, Samsung, LG and other market leaders.

“Think big” is not just an empty buzzword, which is why I have no doubt that the case of ARM is the one that we will follow as well: XTPL has been designed to provide the unique knowledge and technology sought by the world’s biggest industrial companies. We have set up a coherent process, the creation of which was preceded by solid homework – years of research and testing. The goal of our continuous, fast-paced progress is clear: XTPL solutions are to revolutionize the global industry. That is why we do not view ourselves as a start-up anymore, but rather as a scale-up, a global market challenger, a company entering the most intensive period of its development.

Rather than using vague words like “innovation”, I prefer to present the achievements and measures that are bringing us ever-closer to our objective – the universal take-up of our solutions in industry. We are in more than a dozen open, active discussions with potential partners interested in joint development of XTPL technology under JDAs (joint development) or JVs (joint venture) agreements. Our business development department is keeping closely in touch with a large and growing number of potential clients, who have clearly expressed their interest in a possibility to purchase our nanoprinting solutions. This group includes major, well known companies from the USA and around the world. Silicon Valley, Anaheim, Berlin, Miami, Hanover – these are just a few of the places where XTPL representatives are set to appear in the near future – invited both to the largest trade fairs and to the vast offices of industry leaders.

Technological barriers are meant to be broken. This is why we are finishing our preparations to launch the production of laboratory printers. Earlier on, we overcame another technological limit: using our unique method, protected by an international patent application, we have managed to print conductive lines thinner than 100 nm – an unparalleled level of precision that cannot be replicated by any other printing method in the world. This breakthrough has put us on the map and attracted attention of manufacturers of electronics, displays, photovoltaic technology, biosensors, and others. This resulted in us signing letters of intent with companies from different continents whose combined revenues are measured in billions of dollars. From Germany, through China, to Canada and the USA – we have partners interested in doing business with us and implementing our breakthrough nanoprinting technology.

The potential benefits are worth pursuing: the value of the entire market of printed electronics in 2017 was estimated at USD 29.3bn. In 2027, this amount is forecast to reach USD 73bn. Today we realize that – much like ARM before the smartphone age – what we are currently witnessing is just the beginning of a boom spurred by technological breakthroughs. Due to the platform-like nature of XTPL solutions, they can be utilized in many fast-growing industries. We are continuously exploring and verifying new application areas for our technology, beyond the display or photovoltaic cell sectors – those include biosensors, anti-counterfeiting solutions, and microelectronics industries.

As nanoparticle specialists, we know particularly well that size truly matters. Therefore, in 2018 we will work on expanding XTPL together with a growing number of mentors and investors, including international ones. We are establishing an international Advisory Board to support our commercial projects. This positive, growth-promoting bit of upheaval also includes XTPL’s transition to the main trading floor of the Warsaw Stock Exchange (pending) and the planned parallel listing of the Company on the Open Market in Frankfurt. After all, even with such a breakthrough technology at our disposal, we stick to the basic principle: in the eyes of investors, the title of a top business achiever has to be earned by hard work.

Yours faithfully,

Filip Granek


Annual report for 2017

Ultra-precise printing of conductive lines in nano-scale may revolutionize many industry sectors

Printing of nanomaterials is not new. The methods available on the market, which are continually being developed, include INKJET (printing using nano-ink), ESJET (electrostatic inkjet printing) and EHD (electrohydrodynamic printing). However, recently this sector has seen a major breakthrough. XTPL has patented and is commercialising a guided assembly of nanoparticles for creating (or, to put it simply, printing) conductive lines with a width of as little as 100 nm.


This new comprehensive method for nano-scale printing of conductive lines, characterised by extraordinary flexibility, precision and low cost, has all the features of the so-called disruptive technology. The method is based on a solution to an interdisciplinary scientific and technological problem, including challenges in solid-state physics, inorganic chemistry, nanotechnology, material science, programming, machine learning, mechanics and electronics. The innovative approach of XTPL is based on a guided assembly of nanoparticles using the dielectrophoretic attraction.

Guided assembly vs printing

During the process of line formation, the printing head deposits a properly formulated ink – nanoparticles in a mixture of solvents – on a non-conductive substrate, in example such as glass or flexible foil’, says Filip Granek, PhD, the creator of the new method and CEO of XTPL. An external alternating electric field causes nanoparticles to assemble in a clearly defined and controlled way to form a line. The process takes place between a stationary and movable electrode. The starting point for the process is the stationary electrode, while the printing head performs the function of the movable electrode: it guides the formation of the line, which becomes an extension of the stationary electrode. Finally, the printing head short-circuits with a metallic pad, and the line connects to the pad. When the line formation is complete, the printing head takes in an excess ink. ‘You can say that printing in terms of our technology means composing nanoparticles on a substrate’, Filip Granek adds.

New quality, new possibilities

Our solution is often confused with INKJET printing, which is a fundamentally different technology. The INKJET process uses no electrodes, and the voltage is applied only to the piezoelectric printing nozzle. The width of structures printed using INKJET is in the range of 10 to 100 μm, with a limited possibility to further decrease this parameter’, explains Aneta Wiatrowska, PhD, technology director at XTPL.

Likewise, XTPL solution does not resemble the well-known electrostatic inkjet printing (ESJET) or the electrohydrodynamic (EHD) approach, both of which can be considered competing technologies. The parameters and properties of the final product differ substantially in each process, and thus the possibilities for applying these technologies are also different. The method of guided assembly of nanoparticles created by XTPL requires a lower voltage to form a line, i.e., an alternating voltage in the range of ~1 V to ~10 V. On the contrary, the ESJET/EHD process generates pulsed voltage in the range  of ~ 100 V to ~1 kV. Using the lower voltage is possible thanks to the movable electrode. This increases the number of potential applications for XTPL technology as it eliminates the risk of damage to the substrate and other components by a very high electric field.

It is worth noting that in the ESJET/EHD process, the electrode is below the substrate, while the solution developed by XTPL puts both electrodes (the stationary and the mobile one) above the substrate. ‘With this approach, you can use a substrate of any thickness, including substrates that are not flat’, Filip Granek says.

The feature size of printed structures is one of the key parameters when comparing these technologies. The width of structures obtained using the INKJET method is approximately 10-100 μm, while both the ESJET/EHD methods and the XTPL method allow to print lines thinner than 1 μm. What makes the XTPL technology unique is the possibility to create lines with a width-to-height aspect ratio close to 1 in a single pass of the printing head. In the case of the ESJET/EHD methods, multiple passes are required. Having said that, reducing the width of the printed structures is important as – among others – it increases the transparency of conductive films. In the new method, it is possible to adjust the properties of the conductive lines by changing: the amplitude, shape and frequency of the electrical signal; the physicochemical properties of the ink; and finally the size, distribution and shape of nanoparticles. The latter is another parameter which distinguishes the methods in question from each other. Both in the case of INKJET and ESJET/EHD there are no fundamental limitations on the type of nanoparticles, while the XTPL method may use metallic and semiconductor nanoparticles.

An important feature for each of the analysed methods is the type of substrate on which the structures are printed. In the XTPL method, the printing can be performed on any non-conductive substrate, including ones that are not flat. In the ESJET/EHD methods, thin substrates are preferred to minimise shielding of the electric field. Since fewer restrictions on the substrate extend the range of potential applications, the new technology paves the way for applications in many industry sectors, not accessible to other approaches.

Potential application fields

The solution developed by XTPL company will enable the production of a new generation of transparent conductive films (TCF), which are primarily used to manufacture displays, monitors and touch screens. It can be also used for the production of photovoltaic cells, printed electronics, biosensors, lab-on-chip devices and anti-counterfeiting solutions. Particularly promising is the revolutionary application of the technology in the sector of open-defect repair – removal of broken metallic links in thin-film electronic systems. XTPL’s research & development team is constantly optimising its innovative technology and adapting the process for further applications.

XTPL consistently pursuing commercialization of its breakthrough technology on the global market

XTPL applicationWith its ground-breaking nanomaterial printing technology, XTPL S.A. is in the process of making intensive preparations to enter the WSE main floor. At the same time, the company is actively pursuing the next stage of commercialization of its solutions on international markets. The main application segments to become the basis of the business development strategy have been verified. The company is currently focusing on establishing cooperation in the form of JDA or joint venture partnership and conducting negotiations with leading players in selected industries with that goal in mind.

XTPL has been intensifying its work aimed at changing the market of listings of its shares from the alternative trading system (NewConnect market) – to the main market of the Warsaw Stock Exchange in order to obtain the single European passport. This will allow the company to pursue dual listing of its shares on the regulated Open Market (Freiverkehr) operated by Deutsche Börse AG, one of the largest stock exchanges in the world. Dual listing aims to bring the company and its breakthrough technology attention of investors and potential partners from Western Europe – an area that is one of the key directions of the expansion planned for 2018.

Dr Filip GranekThe XTPL business development department, created in the fourth quarter of last year, concentrates on gaining partners among global leaders of the relevant most important industries. We are looking to establish cooperation based on the Joint Development Agreement (JDA), where the research and development work will be co-financed by the partner in exchange for, for example, the priority right to purchase the finalized solution. We also entertain the possibility of establishing a classical joint-venture or financing of the next stage of commercialization based on grant support – states Filip Granek, PhD, the founder and President of the Management Board of XTPL.

The company dedicates its resources to advance at international markets, aiming at commercialization of technologies mainly in the field of repairing broken metallic connectors in thin film electronic circuits (called Open-Defect Repair) and for the new generation of TCFs (transparent conductive films that are widely used in the different subsets of manufacturing industry, such as the production of displays, monitors, and touch screens, as well as in the photovoltaic cell industry sector). The value of the global market for the first type of solutions was estimated at approx. USD 4.5 billion in 2016 and grows at a rate of over 7% per annum, while in the same period the market value of transparent conductive films was estimated at approx. USD 5 billion. In both these areas, XTPL technology has significant competitive advantages, which are certain to call forth a breakthrough.

– Since our debut in September 2017 and the acquisition of more than PLN 10 million from investors, we have consistently pursued the assumed objectives. As an organization, we feel confident on the path to international expansion. The main directions of business development will be USA, China, Singapore, Korea, Taiwan, Japan, South Korea, Germany, France, England, Switzerland, Italy, Finland, Israel, Austria and the Netherlands. We have built new competences through successfully enhancing our team with experienced managers possessing the necessary know-how in the field of strategic management and implementation of new technologies, acknowledged experts in the area of product development, marketing and communication, as well as the capital market. There are many professionals in the XTPL community, effectively working in their careers on international markets, which makes up for an additional advantage in the process – explains Filip Granek.

XTPL’s leaders in the implementation of the new technology onto the market are business development directors. The team consists of: – Alessio Gerardo Maugeri, PhD – specialist in the commercialization of nanotechnology with experience gained in Italy and the Netherlands, and Bartosz Walter, PhD – an individual with broad competences (gained primarily in the United States) in implementing solutions in the field of biotechnology, as well as in financing new ventures (experience in venture capital funds). Business development will be supported by Marta Jankiewicz, marketing and PR director – an experienced manager with vast knowledge in both areas, as well as broadly understood business support and implementation of innovative technologies in many international markets (including for Zehnder and Selena Group).

Simultaneously with the work aimed at successfully entering foreign markets in the TCF and Open-Defect Repair industry, due to the platform-like nature of the developed technology, XTPL is in the process of verification of subsequent application segments. The company is closely regarding a number of new areas and sectors, including production of biosensors, widely understood printed electronics and anti-counterfeiting solutions. At the same time, advanced works on an another version of laboratory printers are underway. After analyzing the results of alpha (internal) tests – carried out in recent months by the application laboratory – XTPL has also just begun work on the beta version of an innovative device for nano-printing. The beta version of the printer will be taking into account the expectations of representatives of global industrial companies.

According to Filip Granek – The functionality of the beta version will be close to that of its series production counterparts and will be used to conduct tests in partners’ and external customers’ laboratories, effectively under conditions corresponding to those of later exploitation.

XTPL S.A. is an innovative company commercializing a breakthrough, international patent application-protected technology for ultraprecise printing of a wide range of nanomaterials on the global market. The main target markets for its distribution include producers of the new generation of TCFs (Transparent Conductive Films) – used primarily in the production of displays, monitors, touch screens, as well as the Open-Defect Repair industry (repair of broken metallic connectors in thin film electronic systems), photovoltaic module sector, as well as those of printed electronics, biosensors and anti-counterfeiting technologies. In the first step XTPL prepares laboratory printers intended for use in R & D departments of potential business clients and research centers, the next phase will involve providing industrial printers. In both cases, XTPL will provide equipment along with a special nanoink designed for the requirements of a specific implementation. Since 9/14/2017, the company is listed on the New Connect market. More information at www.xt-pl.com

For additional information, please contact:

Marta Jankiewicz | Marketing & PR Director at XTPL S.A.
664 423 948 | marta.jankiewicz@xt-pl.com


XTPL marches towards GPW (the Warsaw Stock Exchange) and the Frankfurt-based Open Market

  • Entering the main trading floor will open the doors to a wider group of potential institutional investors
  • Dual listing will improve the company’s relationship with international contractors and investors
  • The company is preparing to beta test an innovative printer and exploring new business opportunities

The Wrocław-based XTPL, which is currently developing a breakthrough method of ultra-precise printing using a wide range of nanomaterials (intended, among others, for printed electronics manufacturers and for other industries), is making the leap to the next level of operations. The company’s Management Board has just announced its plan to move up from the New Connect market to the main trading floor of the Warsaw Stock Exchange (GPW). The company, boasting a capitalization of over 100 million PLN, is planning to make its debut on GPW within the next months.
“We have recently concluded an agreement with the law firm Spaczyński, Szczepaniak i Wspólnicy, who will be a leading partner in the process. We have commenced joint work the preparation of an issue prospectus, among others. One of the reasons we want to make debut on the ‘big’ stock exchange is to attract the attention of institutional investors that appreciate global-scale innovation. Most of them tend to avoid investing in New Connect-listed companies on principle. At the same time, XTPL is growing rapidly, developing its technology and expanding business lines, which means that more and more financial institutions are interested in buying our shares,” explains Filip Granek, President and founder of XTPL.

Currently, the shareholding structure of XTPL includes two international investors with more than 5% of the  shares, namely the German investment funds Heidelberger Beteiligungsholding AG and Universal-Investment GmbH, whose portfolio of assets is worth hundreds of billions of EUR. In 2018, another event will put XTPL even closer to western-market investors: after debuting on GPW the Wrocław-based company is to join another stock exchange – the Open Market (Freiverkehr) operated by Deutsche Börse.
“For us, GPW is an EU-wide passport that will make it easier to debut on stock exchanges abroad and to accumulate capital from international markets. Open Market is a dynamic market for small and medium-sized enterprises that is both closely followed by many German investors and free of restrictive regulations. For us, dual listing is the next step in building an international investment ecosystem around XTPL,” said Filip Granek.

Since its debut in September 2017 and gathering more than 10 million PLN from investors, XTPL has consistently realized its issue objectives. In the first half of 2018, the company will commence the beta testing of a new innovative printer. Even now, XTPL is developing new applications for its technology, used for repairing broken metal interconnections in thin-layer electronic circuits.
“Following results of our current research, XTPL is looking for partners to jointly develop technologies that could be implemented in the production of TFT/LCD displays, silicon solar cells, integrated circuits and printed circuit boards, aimed at manufacturers who are look for cheaper and more efficient methods of eliminating metal structure defects that occur during the production process,” explains Filip Granek.
The global market value for such solutions is estimated at approximately 4.5 billion USD and is growing at a rate of over 7% annually.


Open Market (Freiverkehr)
A regulated, unofficial market established in 1987 under the auspices of Deutsche Börse. The market brings together small and medium-sized companies and, following German standards of prudence, requires issuers to fulfil additional requirements that ensure transparency. The requirements include publication of audited annual statements and management reports in German and English. The companies are also required to keep the investors notified of any developments affecting their business on an ongoing basis.

An innovative technology company that commercializes R&D efforts aimed at developing a breakthrough method of ultra-precise printing using a wide range of nanomaterials (intended for printed electronics manufacturers and for other industries). The Company’s initial objective is to develop its products – laboratory printers and nanographic ink – for use in its customers’ research and development. Next, industrial printers will be developed.
The company has been listed on the New Connect market since 14 September 2017.

IDTechEx Show USA 2017!

IDTechEx Show! is coming up soon and XTPL will be present with his team ready to show you the latest news on our products and listen to your ideas and proposals for customized solutions and projects!

The most important printed electronics event of the year will be held in Santa Clara Convention Center, CA, USA from 15th to 16th November.

Come to visit us at our new booth P41. Find out our booth position on the map.

If interested in a meeting, we suggest You to schedule an appointment to have our full dedication in all You may need!

For any inquiries and reservations, please contact with our Business Developer Team: Alessio Maugeri, Bartosz Walter.

XTPL joins the President of Poland on a visit to Finland

XTPL was invited by the President of Poland to participate in an economic mission in Finland. The trip to Helsinki included representatives of selected young companies operating in the innovative technology sector that had received special passports from the President under the “Start-ups in the Palace” project.

During the visit to Helsinki, XTPL took part in a seminar at the Aalto University where Dr Filip Granek, CEO, met with the people developing innovative technologies in Finland.

It was an extremely inspiring meeting where we shared our experiences in building and running a business with our Finnish friends. I listened attentively to entrepreneurs who operate in one of the most advanced and innovative markets in the world. Their comments, good practices as well as examples of business failures can be very useful tips for Polish companies. Especially for those that bring their products to international markets, and that is what XTPL is doing. I also had the opportunity to present our technology and make promising contacts with R&D centres and enterprises in Finland, says Dr Filip Granek.

Finland is a developed country that drives innovation in all sectors of economy. It is well appreciated by foreign investors and Finns themselves are willing to invest abroad. Including Poland. The total value of Finnish investments in Poland in 2016 is EUR 2bn according to the Bank of Finland. A solid economic collaboration gives hope for new Polish-Finnish projects.

XTPL feels close connection to the Finnish interest in innovation, research and development, sustainable growth and renewable energy. We have a lot in common and many opportunities to reinforce relations in terms of technology and business. We are very grateful to the President of Poland and the team at the Chancellery for this distinction and the possibility to participate in a large number of meetings that allowed us to better understand the mature ecosystem of innovation support in Finland, adds Filip Granek.

A grant for XTPL SA under the Lower Silesia Regional Operational Programme for 2014-2020

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.

Another foreign fund is investing in XTPL SA

The group of significant shareholders of XTPL SA now includes another investment fund from Germany; following XTPL’s first listing, the fund announced that it exceeded 5% of the total number of votes. Heidelberger Beteiligungsholding AG holds 102,000 shares of the Issuer.

Heidelberger Beteiligungsholding AG, belonging to the renowned German investment holding company, Deutsche Balaton AG, listed on the Frankfurt Stock Exchange, with the capitalization of EUR 192m, is a company investing in securities traded on the capital market, including mainly bonds and shares. Usually, the company chooses German assets, but it also takes attractive investment opportunities outside Germany, since its management board is not restricted in any manner with respect to regions, industries or the investment period. On 14 September, the fund announced that it exceeded 5% of the total number of votes in XTPL.

The interest shown by foreign investors confirms that our company is financially attractive and that the XTPL technology has a global-scale potential. One of the key points on our strategic agenda is to collaborate with international leaders in technology. Investors from outside Poland give us the opportunity to establish a close liaison with entities operating in foreign markets. The trust they have placed in our company adds more value and credibility to the XTPL technology, says Dr Filip Granek, CEO at XTPL SA.

Heidelberger Beteiligungsholding AG is the second foreign fund becoming a shareholder of XPTL. The first was ACATIS Investment GmbH which participated in the Issuer’s public offering and and took up over 5% of XTPL’s shares. ACATIS is one the best known investment funds in German-speaking countries and its assets amount to EUR 3bn.