- Additive manufacturing company 3D Metalforge (3MF) signs a commercial agreement with Par Pacific
- Under the agreement, 3MF will supply a range of additively manufactured parts such as impellers, sleeves and similar parts to Par Pacific’s three US-based refineries
- The agreement adds onto the trial in which the companies worked together to identify a range of parts suitable for production using 3MF’s additive manufacturing technology
- It has a potential value of up to $400,000 per annum and there is no minimum order value, with the exact value dependent on the operational requirements of Par Pacific
- 3MF ends the day 8.89 per cent in the green with shares trading at 9.8 cents each
Additive manufacturing company 3D Metalforge (3MF) has signed a commercial agreement with Par Pacific.
Under the agreement, 3MF will supply a range of additively manufactured parts such as impellers, sleeves and similar parts to Par Pacific’s three US-based refineries.
The agreement adds onto the successful 2021 trial in which the companies worked together to identify a range of parts suitable for production using 3MF’s proprietary additive manufacturing technology.
It has a potential value of up to $400,000 per annum and there is no minimum order value, with the exact value dependent on the operational requirements of Par Pacific.
“We are thrilled to have concluded a successful field trial and to be moving toward increased production with Par Pacific,” 3D Metalforge CEO Matthew Waterhouse said.
“Once this phase of the work is complete, we will discuss the possibility of placing a production centre at their refineries to further reduce the delivery time of parts and improve supply chain sustainability.”
The agreement is binding and for an initial period until December 8, 2024, and on a month to month basis thereafter. It is subject to 30 days notice of termination by either company.
3MF has ended the day 8.89 per cent in the green with shares trading at 9.8 cents for a $17.11 million market cap.