Finalisation of a joint venture to provide additive manufacturing services to oil, gas & mining

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AdditiveNow aims to provide a complete additive manufacturing service, primarily for oil & gas, mining and major infrastructure clients by bringing together Aurora’s products and technology with an existing substantial network of industry contacts. — Photo courtesy AdditiveNow

Aurora Labs Limited (“Aurora” or “the Company”) (ASX:A3D) is pleased to announce that it has entered into an agreement with WorleyParsons Services Pty Ltd (“WorleyParsons”) (through WorleyParsons’ data science, software and technology business, Advisian Digital) to form a 50/50 incorporated joint venture, to be named AdditiveNow.

It is proposed that AdditiveNow will focus on developing a service offering that is envisaged to include:

Consultation: Assisting clients with additive manufacturing plans and conducting optimisation studies to improve efficiency, operability and manufacturability.
Engineering: Providing clients with additive manufacturing related engineering services, such as parts design, bespoke metal 3D printing, parts optimisation and parts certification services.
Agile Manufacturing: Short Run Productions: Providing clients with parts design/analysis services through to final production and deployment of those parts, allowing for optimal part design to reduce costs and improve overall performance.

These service offerings and the timetable for their deployment will be, in part, dependent upon the continued development of Aurora’s products, systems and technology.

David Budge, Managing Director of Aurora Labs, commented: “The finalisation of this joint venture is a significant step forward for Aurora and for 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 & gas and major infrastructure sectors. 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. 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.”

For further information please visit the website: https://additivenow.com/

Aurora Labs Limited (“the Company”) (ASX:A3D), an industrial technology and innovation company that specialises in the development of 3D metal printers, powders, digital parts and their associated intellectual property.

Aurora Labs is listed on the Australian Securities Exchange (ASX:A3D). To learn more about Aurora Labs please visit: www.auroralabs3d.com