On 15 February 2019, Aurora Labs Limited (ASX: A3D), a company from the industrial sector and into the business of developing and supplying 3D metal printers, associated software and consumable materials, announced that it has completed the current phase of testing with its unique 3D printing Rapid Manufacturing Technology (RMT) on 13 February 2019.
The 3D printing Rapid Manufacturing Technology testing helped in demonstrating the scalable nature of the technology and achieving remarkable print speeds of 113kg/day. The speed of the technology is approximately 55 times the market speed, and it demonstrates the potential of the technology to transform the spare parts industry worldwide.
In traditional 3D printing, the 3D model is run through software which slices digital part into a series of very thin layers. The next step is that a layer of powder is laid on the print bed. Then these digital slices are fed digitally to the printer one by one. Once the first digital slice gets fed digitally by the printer, an energy beam scans the surface of the powder bed which melts and fuses these slices in the exact shape and dimensions of the slice. This process repeats until all slices get printed.
On the other hand, in case of Aurora’s unique MCP process, multiple layers of powder are laid at the same time. During the powder laying process, there is an area behind where printing can take place, known as the operative surface. The printing occurs simultaneously on these multiple operative surfaces. By using a number of gates, MCP printing becomes significantly faster than the traditional 3D printing process.
On 29 January 2019, in the corporate update presentation, CEO David Budge highlighted the company’s vision of challenging and displacing the traditional metal manufacturing with alternative cost-effective 3D printing. It was also highlighted about the ongoing development of material parameters that contains complex parts such as turbines, valves etc.
Today, the company also announced that it has issued 13,157,895 fully paid ordinary shares at $0.38 each pursuant to the placement raising of $5,000,000 (before cost) as announced on 11 February 2019. The raised funds will be used for accelerating the growth of the business over the year ahead. For this, the company received massive support from the new institutional and sophisticated investors in capital raising.
David Budge, who is the Managing Director of Aurora stated that the support from these new institutional and sophisticated investors in capital raising itself is a solid endorsement of the company and it also positioned the company for delivering exciting development through Rapid Manufacturing Technology.
Since its inception, the stock has generated a negative return of 20%. In the last six months, the stock has generated a negative return of 3.61%. At present, the stock is trading at A$0.470 which is up by 17.5% (as at 3:30 PM AEST, 15 February 2019) as compared to the previous trading day’s closing price. The stock has a market capitalization of A$30.19 million and approximately 75.48 million outstanding shares.
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