In the wake of the Covid-19 pandemic, 3D printing emerged as a powerful tool for hospitals to ramp up the production of personal protective equipment (PPE), revealing the vast potential of this technology and foreshadowing its widespread adoption in the future.
Advancing in this arena, Aussie industrial tech and innovation company Aurora Labs (ASX:A3D) has been making moves to get ahead in the industry, announcing a non-binding Memorandum of Understanding (MoU) with Saudi Arabian Oil Company, Aramco, signaling its global expansion ambitions.
Senior executives of Aramco signed the MoU during their visit to Aurora Labs’ Perth facility. The MoU outlines different areas where Aramco and Aurora Labs can potentially work together. This includes sharing information about Aurora’s upcoming AL250 metal 3D printer, its powerful printing capabilities, and its patented MCP (multi-layer concurrent printing) technology.
Its MCP technology, which has already been granted a patent in the United States, revolutionises 3D printing by enabling the creation of intricate metal objects in a single sweep, utilizing metal dust. This innovative approach significantly reduces production time compared to traditional single-layer direct metal laser printing, which requires time-consuming sweeping motions. By leveraging MCP technology, Aurora Labs aims to make 3D printing faster and more cost-effective.
Furthermore, the MoU outlines the exchange of information regarding the Saudi Arabia and GCC (Gulf Cooperation Council) markets, as well as the potential joint development of opportunities in the 3D printing business. This collaboration holds the promise of advancing both companies’ capabilities and unlocking new avenues for growth.
Aurora CEO Peter Snowsill commented, “We thank Aramco for their time and interest to visit our facility and we look forward to learning more about the opportunities we can explore together, leveraging Aurora Labs’ technology with Aramco’s vast energy industry experience.
Snowsill added,“We are encouraged to see Aramco recognising the supply chain benefits metal 3D printing can deliver through localised production.”
Metal 3D printing helps create fully functional prototypes and end-use parts quickly, which is often not possible through conventional manufacturing methods. Leveraging this technology, late last month, the Company announced the commencement of a joint research project with Curtin University to further develop selective laser melting processes used in 3D printing. This collaboration falls under the Innovation Connections service provided by the AusIndustry Entrepreneurs’ Programme.
Besides catering to existing customers such as Alcoa through industrial print services, Aurora Labs aims to expand its material development activities. The Company’s current research aims to incorporate MCP™ applications into large-scale custom production and improve the performance of its initial commercial products.
With approximately $1.7 million in cash reserves as of Q3 FY23, Aurora Labs is actively pursuing opportunities in the automotive manufacturing sector. It has sent proposals to larhe automotive manufacturers to explore the seamless integration of Aurora’s MCP technology into their production processes. Additionally, the Company is in discussions with a US-based tech manufacturing firm for a potential joint venture.
As Aurora Labs continues to push the boundaries of 3D printing technology, its partnership with Aramco represents a significant milestone in its global expansion strategy.
Alinda is a Business Reporter for The Sentiment
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