Aurora Labs in negotiations for sale of rapid metal 3D printer

West Australian metal 3D printing manufacturer, Aurora Labs, says it is in negotiations with global industrial businesses from a variety of sectors that are interested in investing in its RMP-1 3D rapid metal printer, subject to successful testing.

The companies that have expressed an interest include a leading European automotive manufacturer, a large Japanese industrial corporation, a US-based industry products manufacturer, an Eastern European-based steel manufacturer and a US-based print for service company.

The 3D metal printing of sample parts by Aurora Labs’ RMP-1 is now underway and will be produced by Aurora Labs under commercial terms.

The interest was largely generated by Aurora Labs attendance at the Formnext exhibition, the world’s leading additive manufacturing conference and exhibition.

Aurora Labs managing director and founder David Budge said the company’s marketing efforts at Formnext had exceeded expectations.

“The pathway to revenue from RMP1 sales is becoming clearer and more realistic,” Budge said in a statement released to the Australian Securities Exchange.

“In my view there is genuine excitement at the performance of the RMP-1, which is leading the world in speed, output size and product quality.

“We expect to conclude commercial arrangements to undertake the sample test production program soon and look forward to keeping the market informed of developments.”

Budge also pointed out that while Aurora is optimistic about its negotiations with these manufacturers, it has not entered into any binding contract with any of the manufacturers at this stage. There is no assurance that it will do so or what the form of such contract will be. Accordingly, investors are cautioned about making an investment decision based on these negotiations.

Formnext was held in Frankfurt, Germany from November 19 to 22, 2019.

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