Fast Money

3-D printing CEO: We’ll be ready for HP

HP's 3D impact
HP's 3D impact

Hewlett-Packard's foray into the 3-D printing market could present a serious challenge to competitors in the space, but 3-D printing company Stratasys is prepared to put up a fight according to CEO David Reis.

On Wednesday, Hewlett-Packard unveiled its Multi Jet Fusion technology, which it says "resolves 3-D printing barriers with higher productivity and quality at a lower cost."

In a statement about its new printers posted online, Hewlett-Packard says that its technology "has the potential to enable systems that are 10 times faster" than current 3-D printing options.

Trading Stratasys
Trading Stratasys

Competitors like Stratasys, 3D Systems, Voxeljet and ExOne initially sold off after HP's announcement.

In an interview with CNBC on Thursday, Reis said that his company is already preparing itself to meet the challenges that HP could present.

"Stratasys has a very large team of R&D people, and we're working day in and day out to develop new products," he said. "Our products which are going to come in the next few years I think are going to give a good fight to HP and any other competitors which are going to join the market."

While HP says it plans to start testing the printers with customers starting in late 2014, the company doesn't expect full availability until 2016.

According to Reis, "By the time HP are going to come to the market with their product, I think we're going to be ready."