Upgrade positions Toggle3D to be preferred standard in the 3D modeling industry and in the $160 Billion Global GGI Application Software market as an all-in-one platform for CAD – web 3D design

Nextech AR Solutions Corp., an Augmented Reality (AR), Artificial Intelligence (AI) and 3D model supplier for Amazon and other major e-commerce retailers and brands is pleased to announce the Company has launched a new “Quad Typology Converter Upgrade” which positions Toggle3D to be an industry leading all-in-one platform for CAD to web 3D design. Today’s upgrade enables users of the Toggle3D platform to now produce quad tessellations, which increases the overall quality of 3D models. This is also the preferred standard in the 3D modeling industry as this type of mesh produces higher quality models and allows for more control over the 3D model, and is particularly important for enterprise clients to meet quality standards. Toggle3D now enables the conversion, texturing, customizing and sharing of the highest quality 3D models at scale, using CAD files.

Technical Importance Behind the Upgrade

Before a user can use their CAD files for 3D CGI (computer generated imagery), the solids in their design have to be tessellated to turn into surfaces. There are two types of surfaces that can be created: those made up of triangles and those made up of quads. Most CAD software today allow users to naively convert CAD files into a 3D model mesh for which the surfaces are made up of triangles. However, triangle meshes are considered lower quality by experienced 3D artists. In fact, most large-scale clients of Nextech AR strictly require quad meshes for their models. Currently, to create quad meshes from CAD files, users first have to export the CAD files into triangulated meshes, and then use other software to remesh the triangulated meshes into quad meshes. Unfortunately details of the model are usually lost in this CAD to triangles to quads translation. Toggle3D, however, converts CAD surfaces into quad meshes directly. Part of the process is described in our patent application titled “THREE-DIMENSIONAL (3D) MODEL GENERATION FROM COMPUTER-AIDED DESIGN (CAD) DATA”, Application # 17/707,922 filed March 29th, 2022.

This new “Quad Typology Converter Upgrade” positions Toggle3D to be the preferred standard in the 3D modeling industry and in the Global GGI Application Software market as an all-in-one platform for CAD – web 3D design. The Global GGI Application Software market is projected to reach US$160.5 Billion by the end of 2027. With this new upgrade, users can convert their CAD files to a quad typology mesh ready for texturing, and enables users of the Toggle3D platform to now produce quad tessellations, which increases the quality of 3D models. In the 3D modeling industry, this is the preferred standard as this type of mesh produces higher quality models and allows for increased control over the 3D model. Instead of using 4-6 different platforms as done today to make a web-friendly 3D model from a CAD file, users can do everything inside Toggle3D seamlessly, quickly and in an affordable way.

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CAD is a function of product engineering, and the use of CAD files is ubiquitous across manufacturing verticals including; automotive, aerospace, industrial machinery, civil and construction, electrical & electronics, pharmaceutical, healthcare, consumer goods and others. Industrial designers, working for product manufacturers, use CAD software like AutoCAD, and SolidWorks to design many of the products in the modern world. The growth in the CAD market is attributed to the superior assistance that CAD provides including increased productivity, improved product quality, faster development, better visualization of the final product, constituent parts, lower product development cost. As the technological shift continues to 3D-commerce, every product that is designed and manufactured using CAD files will need to be converted into a 3D model for e-commerce, and other digital applications like product marketing, AR experiences and more. Toggle3D is the perfect solution for CAD to web 3D conversion, as it enables the conversion, texturing, customizing and sharing of 3D models at scale with no 3D modeling expertise or experience required.

Toggle3D accepts other file formats too, so in addition to accepting popular CAD formats, the platform also accepts other 3D file formats for those looking to build product configurators or change materials of existing web 3D models.

Spin-Out

On February 2, 2023 Nextech AR announced the details of its IPO spin-out of Toggle3D. The Company has determined to pursue a direct spinout of its generative AI powered Toggle3D platform through a wholly-owned subsidiary of the Company (“Subco”). The transaction is currently anticipated to proceed by way of plan of arrangement (the “Arrangement”) pursuant to which the Toggle3D platform and associated assets will be spun out into a new Subco, but will be subject to final tax and legal structuring considerations.

The Arrangement, if completed, is anticipated to result in, among other things, (i) Nextech retaining approximately 65% of the issued and outstanding shares of Subco (“Subco Shares”) upon completion of the transaction, (ii) approximately 20% of the Subco Shares being distributed directly to Nextech shareholders on a pro rata basis; and (iii) approximately 15% of the Subco Shares being distributed to certain service providers of Nextech in consideration of past services, as calculated prior to completion of the Private Placement following which the above percentages will be adjusted on a pro rata basis. In connection with the Arrangement, Nextech intends to seek a direct listing of the Subco Shares on the Canadian Securities Exchange (“CSE”).

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