HOUSTON — (BUSINESS WIRE) — February 18, 2015 — As Changing Technologies, Inc. (OTCBB: CHGT) works to increase consumer access to 3D printing, the technology company is formulating new tools to apply the same successful “ sharing economy” business model utilized by emerging tech firms such as Airbnb, Uber and others.
“We plan to connect those who have available 3D printing technology with those who need it,” said CHGT CEO Omar T. Durham. “Our 3D printing subsidiary will continue to carry out its mission to deliver on-demand 3D printing opportunities, and we see the sharing economy as another avenue to deliver these services to consumers.”
App-based, peer-to-peer tools connecting part-time service providers with consumers have disrupted and transformed the hospitality and transportation industry in only a few short years. The scale and speed at which this new economy has grown has been unprecedented. Many—including CHGT CEO Omar T. Durham—believe that the technology’s potential has only begun to be scratched. Venture capitalists seem to agree, with a total of $3.5 billion invested into the sharing economy in 2014.
Now, CHGT aims to join the next wave of transformative businesses by combining services in two cutting-edge industries.
In order to implement the company’s vision, CHGT is currently interviewing leadership candidates for its 3D printing subsidiary, 6thDimension Technologies (6D3D), to guide the company’s aggressive product delivery goals for 2015. (6D3D) was formed last year to develop and market new business models in the rapidly expanding 3D printing market, including retail kiosks, modeling tools and more.
The company plans to announce a hire in the coming weeks.
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. (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