HOUSTON — (BUSINESS WIRE) — October 16, 2014 — Changing Technologies, Inc. (OTCBB: CHGT) CEO Omar T. Durham says the demand for 3D printer materials and services, a sector forecast to reach $10 billion by 2018, is likely to exceed expectations as the technology moves into the mainstream and becomes readily available to consumers in retail environments.
“As more consumers and businesses become familiar with the cutting-edge advantages 3D printing technology offers and are given easier access through mainstream environments, like retail, the market for services is surely going to shatter expectations,” Durham said. “CHGT not only expects the demand for 3D printing services to continue to escalate as analysts predict, but we also expect to capitalize on this booming market segment by continuing to explore new 3D printing innovations, secure strategic partnerships and revolutionize on-demand for consumers in a variety of environments.”
CHGT subsidiary 6th Dimension Technologies (6D3D) will be offering high-quality, professional-grade on-demand 3D printed items at its retail kiosks. Currently a technology not easily accessible to mainstream consumers, 6D3D users will be able to customize items such as arts and crafts, jewelry, mobile phone cases, figurines and licensed miniatures with groundbreaking personalization options.
Analysts predict that the demand for 3D printer materials and services will exceed $10 billion by 2018, registering a compound annual growth rate (CAGR) of 43.8 percent over the next five years. With a $1.8 billion market value in 2013, the space is forecast for massive growth as the technology is further embraced by small and large scale manufacturers as well as the growing small business and mainstream consumer markets.
For more information on CHGT, please visit www.changingtechno.com/investors.
For more on 6th Dimension Technologies, visit www.6D3D.com.
About Changing Technologies, Inc.
Changing Technologies, Inc. (OTCBB: CHGT) is an emerging technology company focused on developing innovative concepts to bring to consumers. It recently created a new subsidiary — 6th Dimension Technologies — to pursue additional growth areas and market needs in the booming 3D printing sector. A forward-thinking company working to be at the forefront of the next generation of consumer-based technology, CHGT is positioning itself to leverage global demand for the latest technological advances and services the company offers. Changing Technologies, Inc. is in the cutting-edge technology sphere alongside companies like Voxeljet AG (NYSE: VJET), Arcam AB (OTCBB: AMAVF), and ExOne Co. (NASDAQ: XONE).
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Changing Technologies, Inc.
Omar T. Durham, 713-300-3806
President and CEO