Western Australian 3D print technology leader Aurora Labs has announced it has signed a 50/50 joint venture agreement with WorleyParsons Services.
The new entity, AdditiveNow, aims to provide a complete additive manufacturing-based engineering service primarily to the oil and gas, mining and major infrastructure sectors.
The incorporated joint venture brings together Aurora’s role as a leader in 3D metal printing with the data science, software and technology capability of Advisian Digital, a division of WorleyParsons.
Aurora Labs managing director David Budge says the announcement, which was released to the Australian Securities Exchange on December 20, marks a significant step for Aurora and the 3D printing industry as a whole.
“We look forward to helping our new broader network of customers to find business advantage through 3D printing solutions, especially across the mining, oil and gas and major infrastructure sectors,” Budge said in a statement to the ASX.
“As our technology comes to market, Aurora is optimistic that interest in 3D printing technology across these industries increase, and Aurora will follow any growth opportunities.”
AdditiveNow will focus on developing a service offering that is expected to include consultation to improve efficiency, operability and manufacturability for clients with additive manufacturing plans.
It will also provide clients with engineering services such as parts design, bespoke metal 3D printing, parts optimisation and parts certification services.
The services and the timetable for their deployment will depend, in part, on the continued development of Aurora’s products, systems and technology, the statement says.
3D printing technology has the ability to potentially replace aspects of traditional supply chain and the potential to reduce inventory holding costs, Budge said.
“We have already identified and initiated discussions with specific customers for efficiency opportunities to reduce their capital committed to spare parts and inventory, potentially replacing aspects of traditional supply chain with 3D metal printing technology. This has the potential to result in reducing inventory holding costs, freight and manufacturing lead times.”
“We are looking forward to finding more commercial applications of the technology through this joint venture.”
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