The company’s shares were last trading 28% higher intra-day, at $0.055.
Robo R2 is an intuitive and easy to use printer, with a robust set of features that will enable professionals, designers, entrepreneurs, hobbyists, and educators to bring their ideas to life in 3D.
The release of the Robo R2 to retail channels will build on the strong demand and enquiry that the company has received from existing and new customers, both in the U.S. as well as internationally.
Robo continues to progress new customer accounts in the education segment, a segment that is estimated to spend around US$8 billion per annum on education technology products.
The company completed its initial production run at Foxconn of the Robo R2 in May this year, which was dedicated solely to its pre-order customers.
All pre-orders have now been delivered to these customers.
The manufacturing quality and production throughput from this initial production run exceeded the company’s expectation.
Robo is ramping up production volume to meet the anticipated demand for the R2 printer.
The company recently accepted a Good Design® Award within the Product Design category at the Good Design Festival in Sydney for its smart 3D printers.
Considered Australia’s highest honour for design innovation since 1958, the event celebrates the best new products and services within the Australian market.