Defence MOU for propulsion systems pushes Aurora Lab shares higher

Aurora Labs Ltd (ASX:A3D) has seen its share price spike more than 5% on news that it has signed a Memorandum of Understanding (MOU) with an Australian defence company which will see the two collaborate on 3D printed propulsion systems.

The defence company in question is a subsidiary of Orion Sovereign Group (OSG Australia), which focuses on integrated facilities management, and is majority veteran owned.

The MOU – which is set to last 2 years – is developed around the companies’ collaborative work on small propulsion engine systems and critical components for next generation UAVs,and will see them share information regarding printing and aerospace technologies.

The information sharing is set to contribute to assessment and improvements in performance, reliability and productivity of parts printed for micro gas turbines – and the companies will also work together on Aurora’s Micro Gas Turbine propulsion system.

Aurora’s expertise in metal 3D printing will be a key contributing factor in the arrangement, which itself marks an important step in progressing the capabilities of sovereign manufacturing technologies within the propulsion sector.

Aurora’s share price – at 11:39 AEDT – was 8.1 cents, a rise of 5.19% since the market opened.

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