Shape Robotics is opening a subsidiary in the Republic of Moldova

Company Announcement no. 26-23
Copenhagen, May 15, 2023

On June 1st, 2023, Shape Robotics will open a subsidiary in the Republic of Moldova, executing the strategy the company announced before its successful capital raising in the spring of 2023. With the raised funds, the company's partnership-based growth strategy will gain further momentum through important local representation with a sales team and a showroom in Moldova's capital, Chisinau. 

As an EU applicant since 2022, Moldova is included in several international programs funded by the EU, USAAID and the World Bank with the aim of raising the tech and education levels of its population. The identified programs constitute a significant part of Shape Robotics' revenue potential in the country.

The Moldovan government has recently opened a series of programs aimed at strengthening vocational education for the benefit of better economic development in Moldova, including improving access to higher education, increasing the quality of teacher training, and modernizing teaching methods and materials. Both Romania and Moldova are trying to improve the socio-economic situation and increase the quality of life for their populations through joint investments in education and infrastructure across their borders. From the management and board's perspective, the political instability in the region is not expected to affect Shape Robotics' opportunities.

A country manager has been appointed, and the subsidiary is expected to be fully operational at the end of August.

The company maintains the financial expectations for 2023.

Additional information and investor relations
André Fehrn, CEO Shape Robotics A/S
Tlf.  (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com

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