Industrial technology and 3D printing company Aurora Labs (ASX: A3D) has received a significant purchase order from the Australian Government’s Department of Defence, valued at $49,400.
This order involves the supply of experimental metal alloy 3D-printed parts, marking Aurora Labs’ strategic entry into a larger market segment that it has been targeting for the past 18 months.
CEO Rebekah Letheby commented: “I am thrilled to receive a purchase order direct from Australian Defence to Aurora Labs for 3D printed parts. Our focus to move to providing products, parts and services which are designed and tailored for specific applications that are tailored to custom requirements, particularly printed components that need to fit with standards of aerospace or Defence, are now becoming fertile areas where the Company can expand.”
Aurora Labs is renowned for its expertise in developing 3D metal printers, metal powders, digital parts, and related intellectual property. The components for this order will be produced at the Company’s specialised industrial print services facility in Canning Vale, WA. This initiative leverages Aurora Labs’ deep expertise in materials and the metal printing process using laser powder bed fusion (LPBF).
In Q3 FY24, Aurora Labs received a $234,000 drawdown loan against its R&D tax incentive refund. As of March 31, 2024, the Company reported approximately $320,000 in cash reserves. Additionally, on April 22, 2024, Aurora Labs announced a share placement at $0.03 per share, aiming to raise $2,040,000 before costs from new and existing investors. The Company’s year-to-date cash burn at the end of March 2024 was $1.8 million.
During the same period, Aurora Labs completed the comprehensive design phase of its AL250 printer, progressing to the build phase. This milestone was highly anticipated for the Company as it allows select customers to witness the assembly of the AL250, a laser powder bed fusion machine, ahead of potential sales. The Company has selected the superalloy Inconel 625 for the initial machine start-up, with parts such as micro turbine combustion chambers slated for production.
Aurora Labs is also preparing for the ISO 9100D certification, which focuses on quality and manufacturing standards for the aerospace and defence industries. The 9100D certification will position the Company strongly for future 3D metal printing work, which requires precision quality requirements particularly tailored for the production of parts that enter this highly exacting supply chain with a need for quality and safety as its cornerstones.
Looking ahead, Aurora Labs will showcase its capabilities at the Indian Ocean Defence and Security Conference, scheduled for July 24-26, 2024, at the Perth Convention Centre. The Company anticipates engaging with international defence visitors and receiving 3D printing inquiries from conference delegates.
Alinda is a Business Reporter for The Sentiment
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1 Comment
Shraddha13
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Replyhttps://www.360iresearch.com/library/intelligence/3d-printing-software-services