 And hi. Hey, this is JF at Bot Factory. We're in New York City. We're a startup. And our vision is for a future where every single electronic device you make is going to be made with one of our products. What we have here is a desktop PCB printer. Our machine is capable of inkjet printing, nanoparticle silver, and insulating materials to build multi-layered circuitry on flexible or rigid materials. So right now it's printing a PCB in there? Yes. Well, right now it's in demo mode. But yes, if you were printing a board, you'd be printing something right in there. The whole goal of our product is to make it easy for someone to make a board. So we also have separate heads for dispensing and pick and placing components. Each head can be hot, can be removed in the process for dispensing, for example. Let's see if I move here. There's a dispensing tip here, and we can dispense onto all the pads, solder paste or conductive glue. And then of course we have a pick and place head here, which you can swap out. There are magnets and a connector here to hold the whole system in place. And we have a setup for holding components and chips and a camera for recognizing the center of each component, so we can place them correctly. So in other words, we've kind of miniaturized the PCB factory. We've taken all the elements you see on the factory floor and somewhere in Southeast Asia and condensed it into a device that can sit on a simple table like this. You can have it sit right next to your electrical engineer so you can design the board and then develop it and test it before ever having to think about making an order from somewhere else online or having to assemble it yourself by hand. What's happening with larger boards? Is this a different machine? Yeah, so this is an industry project we're doing with Airbus. So Airbus has an ongoing project called the Factory of the Future. You can find out about it online. Their whole goal is to fabricate and automatically all the processes for making aircraft. One thing they want to do is they want to use printed electronics in their aircraft. They liked sort of our vision and felt like there was a good idea to partner up. So we're developing a larger format system for them that's going to be able to print on flexible substrates and rigid substrates so you can kind of do more production kind of level fabrication. So the airplane of the future is going to be printed out of one of the machines? Is that going to happen? How much of the world is going to be printed? I think we can print everything. Printing anything with electronics. Printing electronics just allows you so much more freedom and flexibility, literally flexibility of electronics. You can print inside, let's say, the inner parts of a rocket so you can get higher density of circuitry for small payloads. You can use it in things like disposable cups. There's a possibility of printing little LEDs so they can tell you how hot your coffee is or printing flexible chips in here or displays. And there are booths and companies at the show that are doing all these things. We're kind of trying to be the touchstone for bringing it all together. Not only can you fabricate a board like a rigid board like one of these, but you can also print flexible boards using some of the materials and techniques you can see at the show today. So let me show you this. This is a four-layer board. It took me four hours to make that. Now, had I assembled it, it would probably take around five hours. The assembly process is relatively quick compared to the printing process. So there's two layers for signaling and two layers, one for ground, one for power. These are two-layer boards, and they have sort of edge connectors for connecting to USB, and it's actually a sound meter. Over here we have, I'm not sure how well it's going to work out, but these are LEDs that are being turned on and off by Arduino over here. And I made that in two hours. That was fast. You made which part? I made the whole thing in about two hours. So that's the kind of rapid fabrication that you can do. With the LEDs on? Oh, the LEDs are pick and placed. By hand or by the machine? By the machine. So you can do that? Yep. Which part can it pick? Which part can it place? How much can it do? So the only thing I did by hand was the plated through holes, and we need those for components. So we have a tool that you can plate the inner parts of a hole if you choose to for like a connector or a solderable component, like a large capacitor. The interconnects between the different printed layers are actually printed with the machine, so you don't need to plate anything for the vias. So you've been working on this stuff for a few years already, right? How's been the adoption in the market? Adoption has been strong. Everyone sort of recognizes that fabricating a board quickly is difficult. Getting sort of exactly what you want from an existing process, traditional process takes too long, and it's not going to get faster. It doesn't matter how many factories you build, you still need labor costs, you still need to get them to do it the right way. So getting it in-house is better. It's also a great way for a company to avoid having any IP issues. They can protect themselves better by having all the fabrication process in-house. And so a lot of companies are recognizing that and going with that. So it's great for prototyping. But it's also good for people who want to do different things. Like, you know, often we have companies who are just trying to get their feet wet with printed electronics. So they want to do flexible electronics, they want to do things, and they don't really want to spend a lot of time making mistakes and spending a lot of money. They just get one of these machines and they're done. So how much of printed PCBs is going to be for prototyping versus mass production of the future of the world, you know? So I think 100% of all boards in the future are going to be printed. And there's several reasons why. Customization of electronics because of complexity is going to become more and more important. And generally speaking, you want to have the same prototyping techniques as you do want to have at the same mass production so you can kind of compare apples to apples, right? And it's easier for you to understand how you can take a design that makes it on this machine and scale it to large scale. Printed electronics is faster, but it is different from regular PCBs that are made today. So, you know, electrical engineers have to think about how to maximize and take advantage of all the potential uses of printed electronics so they can really maximize the capabilities of it and provide better products. But there's just so many uses for print electronics both on an economic scale as well as a design envelope scale where it expands that possibility that it's no brainer. It's a no brainer that print electronics is going to be everywhere in the next decade. How do you eventually make one machine or bigger machine that does both the PCB and all the case and everything in one go? I think that's definitely a possibility. I'm seeing a lot more people doing that. There are challenges because you need to make the materials play with each other. And you need to think about how you do it at scale. In my view, there's an acceleration because everyone recognizes that integrating all the elements into one machine or one process or one machine that uses several processes would be advantageous. Principally, it's a lot of R&D companies who are trying to cut costs and trying to make their process of iteration faster. But it's also manufacturers who are like, we're trying to do things that you wouldn't necessarily do by traditional means. But as I said, it's a long road for various reasons. But I believe it's going to be very, very common soon. It's called like Kinkos or something like that, right? Those places where people go to get stuff printed a little bit more professionally. There might be a bunch of those in every city where they have big machines. People can get it printed and stuff. But I mean, flex 3D hybrid electronics where you're combining printed electronics, the object creation and the final bit, the chips. It's very hard to print chips. There are some people that are printing chips, but the size of the transistors on each integrated IC is massive compared to what you get out of an AMD Intel or like factory or foundry, right? So they still need to get the chips. They're not going to be printed for probably a lot longer unless there's some sort of magical new technology that comes along. So for the Kinkos guys, they still need to order those chips. But at the same time, the fact that you can get systems on the chips that have almost everything in one chip, you just have to combine the different sensors. You pick in place. There you go. You just add on the, it's hybrid. But you still need to get those chips from somewhere, right? Like you can't just, like only Kinkos has this ink and paper. So they don't have the material on site. You know, if you have a Kinkos style, you need the material and you need the ink, conductive ink, you still need the chips. You still need those components that give that, that really make the electron stance like this guy. So I mean, like I bought those LEDs. Those are neopixels, the resistors and everything. We could print the resistor for sure. I think that's possible. The capacitor could have been printed. But the only other elements like this is an integrated neopixels. So neopixels have integrated drivers in them. So I just had to send serial data power on the ground and the whole thing will blink at any color I want. However, to make the semiconductor, printing semiconductors at the future size that I want, that's, that's not easy. You can use it for basic displays. There's a company called Wine Visible that does stuff like that for printing displays. But high power LEDs, like very specific color ranges, like, oof, you need a foundry for that. And of course this is running off an Arduino, which, you know, has a lot of other elements. But I think that, for example, if you're working with system on chips where the chips kind of have almost everything and you have the ability to print the resistor and the capacitor, you may be able to do quite a lot of complex technology where almost everything except for the chip is printed. But that's still far off. We still have to think very long about how we can do that. And how much, in the next two, three years, how much of the world and IoT and everything could be very, very suitable for this kind of customization? Because it's about customizing for every use case, right? And there could be billions of different kind of devices. Is there a way to, what are your thoughts about this? So the great thing about our technology is that you can do low volume, high mix. And embedded in IoT technologies often require a lot of that because sometimes they're just solving one specific problem. And if you can rapidly iterate it and test it in the field, you don't need to make large quantities. 3D printing is, like, plastic printing is great for that. There's probably, you know, small use cases where people are only printing a hundred of something. I find that this kind of technology will help out, at least expand the IoT and embedded electronics world because then they can actually tackle, let's say, smaller market problems which may actually, you know, generate just enough sort of income and justification to fabricate a here instead of sending it out, that kind of stuff. I see, as I said, I see this a lot with 3D printing. For example, we use a lot of 3D printing for all the bits on the components on the machine because we're still at the start-up stage. Had we not had that technology, we would have had to order injection mold pieces. That would have taken too long. So to be honest, I find that's very important that we take the approach of, you know, allowing customers to kind of do more and more with less and less by having a product like this here. So what's this machine? And can people buy it now? This is SB2 Pro. This is our new product. We've encased our SB2. So it has an enclosure, different printing heads so we can do sort of a wider variety of print heads. Is it safe to open it now or not? No, right now it's printing so I can't open it. It will stop. So we're just going to leave it as it is. But yeah, this is our new product release. And so how can people buy it? Oh, they can give us a call and we'll give them a quote. We're shipping this version in March, but we're still selling our original SB2s. It just doesn't have an enclosure, but it has some of the basic upgrades that I mentioned. So we're looking at a couple of new things like we're researching how to integrate a Piazzo print head. We're looking at new materials for dispensing onto flexible and rigid substrates to have a higher bond. But Piazzo is going to speed things up quite a bit, we think, also allow you to print thinner traces and things like that as well, hopefully. What kind of customer do you have? Is it like a university? We have a lot of universities, a lot of research labs that are focusing on print electronics. We're doing prototyping as a good dual use case there. We do have a significant number of companies ranging from aerospace to automotive to industrial applications where lightness, new materials matter, printing conformally to structures matters a lot. Or they just want to rapid fabricate stuff. It's always a mix of those two types of companies. And then there's sort of our, I'd say our fastest growing market, which is the small companies that want to do pure prototyping, that's it. And they can see a big justification because they spend so much on prototyping boards every single day.