February 21, 2017

MOORESVILLE, N.C. AND MINNEAPOLIS – Today, Team Penske announced that it has formed a technical partnership with Stratasys Ltd. (Nasdaq:SSYS), the 3D printing and additive manufacturing solutions company.

As part of a multi-year agreement that begins in 2017, Stratasys will provide equipment and support services to assist Team Penske in its engineering and manufacturing efforts across its NASCAR and INDYCAR racing platforms. Stratasys, as an Official 3D Printing Solutions Partner, will furnish Team Penske with state-of-the-art 3D printing solutions to create manufacturing tooling and car parts as well as rapidly generate engineering prototypes.

Under the new technical alliance, Stratasys will also provide technical support to Team Penske for customized motorsports applications and materials engineering.

“Our strategic partnership with Stratasys should keep our manufacturing and engineering processes at the front of the pack,” said Team Penske President Tim Cindric. “Stratasys is on the cutting edge of additive manufacturing technology for automotive applications. Utilizing their equipment and technical support will provide us with another means to put our ideas on the race track first.”

Stratasys plans to highlight its new partnership with Team Penske by engaging with its customers through tours of the team’s facility, technical talks and product demonstrations designed to showcase the company’s unique solutions and offerings.

“We are proud to be a part of Team Penske and look forward to working with them over the coming years to drive their NASCAR and INDYCAR teams to victory,” said Rich Garrity, President Americas at Stratasys. “Stratasys additive manufacturing solutions are being increasingly adopted by the world’s top motorsports teams and manufacturers. The engineering-grade quality, high throughput and wide choice of materials our 3D printing solutions provide are a perfect fit for the customized tools and innovative part designs our automotive customers demand.”

The 2017 Monster Energy NASCAR Cup Series season begins in February with the running of the Daytona 500 on February 26. The NASCAR XFINITY Series also begins at Daytona on February 25. The 2017 Verizon IndyCar Series season starts March 12 on the Streets of St. Petersburg, Florida.

About Stratasys

For more than 25 years, Stratasys Ltd. (NASDAQ:SSYS) has been a defining force and dominant player in 3D printing and additive manufacturing - shaping the way things are made. Headquartered in Minneapolis, Minnesota and Rehovot, Israel, the company empowers customers across a broad range of vertical markets by enabling new paradigms for design and manufacturing. The company's solutions provide customers with unmatched design freedom and manufacturing flexibility - reducing time-to-market and lowering development costs, while improving designs and communications. Stratasys subsidiaries include MakerBot and Solidscape, and the Stratasys ecosystem includes 3D printers for prototyping and production; a wide range of 3D printing materials; parts on-demand via Stratasys Direct Manufacturing; strategic consulting and professional services; and the Thingiverse and GrabCAD communities with over 2 million 3D printable files for free designs. With more than 2,700 employees and 1,200 granted or pending additive manufacturing patents, Stratasys has received more than 30 technology and leadership awards. Visit us online at: stratasys automotive or automotive blog, and follow us on LinkedIn.