Join our daily newsletter At The Bell to receive exclusive market insights
- 3D metal printers Aurora Labs executed a memorandum of understanding today with Swedish industrial company, Granges AB
- Granges will supply Aurora with its proprietary aluminium, which Aurora will conduct research and development on
- The two companies will collaborate on developing marketing strengths for the aluminium, along with Granges purchasing a 3D printer from Aurora
- The deal was carried out through Aurora’s wholly owned subsidiary, A3D Operations
3D metal printer Aurora Labs has completed a deal with Swedish industrial company, Granges AB.
The deal provides framework for future business between the two companies, noting particular transaction and research agreements.
Granges will supply Aurora with its proprietary aluminium powder, which will be used by Aurora to conduct research on. The two companies will then conduct market research on utilising the aluminum in a collaborative manner.
The memorandum of understanding was carried out through Aurora’s wholly owned subsidiary, A3D Operations.
Founded in 1896, Granges is a global leader in innovation, engineering and manufacturing for products using aluminium.
Aurora Managing Director David Budge highlighted the worth of the deal in an ASX media release this morning.
“The proposed transactions, if consummated, could potentially be worth up to approximately US$7.75 million in revenue to Aurora,” said David.
Today’s deal also outlined Granges to pre-order one of Aurora’s 3D printers – the ‘RMP-1’.
“Further, if Granges purchases one of our RMP-1s, it will lead to some exciting and innovative developments in both the internal combustion engine and electric vehicle markets,” he said.
David continued on the company interest in Granges’ strengths for the automotive industry.
“Aurora is expecting to see enormous growth in additive manufacturing through the automotive sector in the coming years,” he said.
Share prices in A3D are up 8.57 per cent this morning. Shares are trading for 38 cents. The company’s market cap is currently valued at $31.02 million.
